After seeing minimal retail volume increases or declines prior to the COVID-19 pandemic, butter and spreads saw a strong acceleration of growth in 2020. The category saw a dynamic performance as a result of the context produced by the pandemic.
In several years before the pandemic, margarine and spreads saw retail volume declines. These products, which account for the highest retail volume sales in butter and spreads, suffered from a negative consumer perception in recent years, following the introduction of new food labelling laws in Chile in 2016, that required all products that contain high levels of fat, calories, sugar or sodium to clearly display the details on the packaging.
The competitive landscape in butter and spreads has not changed significantly amidst the pandemic. Watt’s is expected to maintain its lead in value terms in 2021, thanks to holding the leading position in both cooking fats and margarine and spreads, and also holding a solid position in butter.
Retail volume and current value sales of butter and spreads are set to continue to increase in the forecast period. It is likely that in 2022 there will be a rebound in the country's economy, so consumption is expected to remain high and even increase compared with 2021.
The expectation of continued growth will present an opportunity for companies to develop strategies to attract potential customers. These are likely to be based on promotions and discounts, but also oriented to achieve customer loyalty.
E-commerce remains a small distribution channel within butter and spreads, with supermarkets and hypermarkets accounting for most sales. However, the channel was already seeing solid growth pre-pandemic, but saw double-digit value growth in 2020.
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Understand the latest market trends and future growth opportunities for the Butter and Spreads industry in Chile with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Butter and Spreads research and analysis database.
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