After several years of decline, butter and spreads saw a negligible retail volume increase in 2019. Butter continued to see by far the best performance, with butter containing less fat and no salt becoming increasingly popular, as consumers are looking for ways to improve their health.
Home baking was a flourishing trend in Greece in the review period, which helped to slow the volume decline from the middle of the review period, and contributed to growth in 2019. Manufacturers recognised this trend, and therefore invested in advertising various recipes, or sponsored television cookery programmes.
More and more products are being added to the margarine and spreads category. These are mainly spreads made from a mixture of butter and margarine, such Minerva’s launch of Fast Light with Butter, although there are also more radical innovations.
Elais Unilever Hellas remained the clear leader in butter and spreads in value terms in 2019, with Vitam remaining the company’s best-selling brand. However, the company saw a value share decline in 2019, with Vitam in particular seeing a falling share after a temporary boost in 2018, when the company invested in the brand’s portfolio.
The domestic company Minerva ranked second in butter and spreads in value terms in 2019, with Fast and Horio being its best-selling brands. However, the company saw a strong decline in its sales in this year.
Smaller players are challenging the leaders with innovative products. For instance, the Chorio brand launched a new type of spread made with Corfu butter, Kerkyra.
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