Sales of butter and spreads declined in 2021 after a spike in sales in 2020 due to the closure of CFS and consumers eating at home due to COVID-19. There was also panic buying in March 2020 at the start of the pandemic, boosting sales.
In 2020, an increase in sales of butter and spreads sold in traditional trade versus modern trade was evident as the former is more convenient and less crowded. Also, as butter and spreads are frequently used products, it is easier for them to be bought from traditional trade outlets, the number of which far exceeds that of modern outlets as they are present in every neighbourhood in Egypt.
Afia International Co remained the leading player in butter and spreads by value share in 2021. This reflects its strength in cooking fats, with many products available in all trade channels with different pricing points.
Butter and spreads is expected to witness good growth in the forecast period to 2026 due to the stability of its prices. The year-on-year growth of the economic conditions that Egypt is witnessing is encouraging consumers to buy, especially food, and the increase of variety, price points and competition between packaged and unpackaged items appeals and benefits consumers.
In a reversal of the average declines seen in the review period, butter and spreads is expected to record both volume and retail value growth over the forecast period as consumers continue to focus on staple products. Cooking fats, as the largest category in butter and spreads, is expected to record much stronger value and volume growth over the forecast period.
While many consumers prefer cheaper big bulk packs, premiumisation is set to remain an ongoing trend for the country’s large number of wealthy individuals. Demand for premium products among this consumer base is likely to encourage manufacturers to include premium products in their portfolios.
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This report originates from Passport, our Butter and Spreads research and analysis database.
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