As a result of the economic crisis, demand for butter and margarine declined slightly at the end of the review period. Nevertheless, broadened distribution and increased availability of margarine for competitive prices facilitated the shift from expensive butter to cheaper margarine, thus preventing any drastic drop in sales.
Zhirovoy Kombinat continued to lead sales in 2017, posting a value share of 12%. The company benefits from the popularity of its Schedroe Leto margarine, which is distributed even to remote areas of the country. Another advantage of Schedroe Leto is its competitive price, which makes it attractive for low-income consumers as well.
Butter and margarine is expected to post a value CAGR of 4% at constant 2017 prices over the forecast period – a decline from the review period CAGR of 6% which can be attributed to strengthening competition and consequently lower unit price growth.
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This report originates from Passport, our Butter and Margarine research and analysis database.
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