Butter and spreads responded well to the COVID-19 pandemic in 2020, with current value and volume sales rising notably. Due to the ongoing lockdowns and restrictions, consumers were spending more time at home.
Although butter performed well in response to the COVID-19 pandemic in 2020, the product area will witness slowed growth in 2021. The main reason for this will be due to the economic repercussions of the pandemic that will result in many consumers having to cut their budgets.
Local competitors will maintain their leading positions within butter and spreads in 2021. Savushkin Produkt, the leading local player within dairy manufacturing, will retain its top position in butter, thanks to its strong distribution network all over Belarus.
Butter and spreads will continue to witness ongoing slowed growth in 2022 and beyond. The main reason for this will be due to the financial repercussions of the pandemic that will lead more and more consumers to economise as consumer price sensitivity will remain.
It is expected that local consumers will continue to pay greater attention to their health and what they consume, which will hamper the retail volume growth of butter and spreads in the forecast period. A growing number of health-aware consumers are expected to decrease their consumption of such products by using alternative methods of cooking, and others will switch to alternative products.
Belarusians are likely to continue decreasing the amount of time they spend on meal preparation into the forecast period, with a lack of free time increasing on-the-go consumption. More local consumers are giving up cooking at home and purchasing ready-to-eat products instead.
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Butter and Spreads
This is the aggregation of butter, cooking fats and margarine and spreads.See All of Our Definitions
This report originates from Passport, our Butter and Spreads research and analysis database.
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