Dive Brief:
- Jif is launching a signature peanut butter and chocolate flavored spread, which parent J.M. Smucker said is the brand’s biggest flavor innovation in nearly a decade. The new product merges the salty of peanut butter and the sweet of chocolate.
- With 50% less sugar than the leading hazelnut spread with cocoa, according to the packaged food manufacturer, Smucker said its smooth texture makes it ideal for spreading on desserts, snacks and meals.
- Jif is the top peanut butter brand with a 39% market share, according to Circana data provided by the packaged food company.
Dive Insight:
As a leader in peanut butter, Jif and Smucker are looking for ways to expand the reach of the popular brand. Consumers may not always want peanut butter and as the popularity of Nutella shows, a nut-chocolate blend can be a versatile addition to everything from bread and apples to graham crackers and ice cream.
“Jif Peanut Butter & Chocolate Flavored Spread combines the irresistible deliciousness of Jif Peanut Butter that our fans love with the sweet flavor of chocolate, striking the perfect balance of salty and sweet,” Nicole Massey, vice president of marketing at J.M. Smucker, said in a statement.
Smucker notes that the lower sugar content positions Jif Peanut Butter & Chocolate as a permissible indulgence. Less sugar, and the connection to the well-known peanut butter brand, could be enough to convince consumers to try the product. Taste, as is often the case, will play a big part in determining whether they return. Jif Peanut Butter & Chocolate Flavored Spread goes up against a formidable list of other nut-chocolate combos on the market from companies such as Hershey, Mondelēz’s International’s Milka brand, Hormel Foods’ Justin’s and, of course, Ferrero’s Nutella.