After the dynamic growth for butter and spreads in 2020, retail volume and current value declines are expected to fall in 2021. As COVID-19 restrictions end and the country opens up, consumers are expected to venture outside of the home more.
The consumption of butter and spreads is expected to be sustained in 2021 thanks to the changing perception of dairy fats as good fats, as well as the growing number of new varieties and the support from retailers. Whether traditional dairy butters, plant-based alternatives or nut/seed spreads, ingenious new offerings in the product area have fuelled the popularity of butter and spreads, along with dietary preferences and a collective change of heart about the fat content of food.
Unilever divested its spreads operations – which included the Becel, Imperial and I Can’t Believe It’s Not Butter! brands – in mid-2018. This business is now run by Upfield Canada, which remains the leader in butter and spreads in Canada in 2021.
After the decline for butter and spreads in 2021, retail volume and current value declines are expected to see positive growth in 2022. As COVID-19 restrictions end and social conditions return to normal, consumers are expected to spend more time outside of the home, baking less.
The coming into force of the Canada-US-Mexico Agreement (CUSMA) in 2020 will lead to a greater availability of butter and spreads from the US and Mexico. In turn, domestic players will need to up their game with the launch of new varieties and tastes in order to successfully compete.
The issue of palm oil used as animal feed made headlines across Canada in early 2021, causing consumers to reconsider their consumption of butter. While it is still debated if the claims are true, the public debate on the matter has shown that in an era of digital savviness and social media, transparency on product origin and production methods is of vital importance.
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Understand the latest market trends and future growth opportunities for the Butter and Spreads industry in Canada with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Butter and Spreads research and analysis database.
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