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Butter and margarine recorded 3% current value growth in Singapore in 2017. Growth was stable compared to the review period value CAGR as butter, the main driver in butter and margarine, remained a popular spread to accompany sliced bread or toast, a common local breakfast among Singaporeans.
Auric Pacific Group Ltd led butter and margarine in 2017. This is due to its well-established SCS brand among consumers. It offers salted and unsalted, as well as spreadable variants of butter in different pack sizes to meet the needs of different consumers. For example, a 250g block for baking, multipacks of 10g to go with toast or pancake, or spreadable to accompany bread.
Butter and margarine is expected to record a value CAGR of 3% at constant 2017 prices over the forecast period. This will be in line with the review period’s performance, signalling stable demand for butter and margarine. Butter as a spread is expected to remain in favour to have with bread and toast. In addition, demand for butter is also expected to be driven by younger families cooking Western cuisine, such as steak and mashed potato, more frequently.
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