The price of butter soared at the end of the review period, apparently due to supply shortages in some European markets. Although there seems to be no such shortage in Bosnia-Herzegovina, prices were affected as most products are imported from other European countries.
Although price volatility negatively affected demand for butter at the end of the review period, the format is clearly receiving more attention from consumers. Butter is recognised as a healthier alternative to traditionally popular margarine and spreads.
The performance of margarine and spreads at the end of the review period was negatively affected by consumers’ growing awareness of the poor quality of these products, as well as the wider availability of healthier alternatives. It seems that wider access to information on the internet helped boost consumer health awareness.
Zvijezda lost share at the end of the review period, although still comfortably leading butter and spreads. The main reason for its loss of share is that the player was negatively impacted by the Agrokor restructuring process – Zvijezda is a subsidiary of Agrokor and its strategic focus was offset by the stressful processes developing within the Agrokor system, in both its retailing and advertising activities.
Following Zvijezda in butter and spreads in Bosnia-Herzegovina is a pack of butter specialists. These are all international manufacturers, as there is no tradition of butter production in Bosnia-Herzegovina and the varieties that are being manufactured domestically are nowhere near the quality of products imported from Germany, Austria and France.
Private label remains negligible in butter and spreads in Bosnia-Herzegovina. There is no interest in the format among retailers or consumers.
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This report originates from Passport, our Butter and Spreads research and analysis database.
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