Sales of butter are expected to rise in 2021 in a continuation of a trend seen in 2020 stimulated by various lockdowns and considerably more time spent at home as consumers endeavoured to avoid virus transmission. More consumers are engaging in home cooking and baking with many such recipes featuring butter as an ingredient.
Consumers are expected to continue demanding higher quality butter and spreads products in 2021. Despite reduced disposable incomes since the COVID-19 outbreak, Greek consumers are likely to continue to be willing to purchase more expensive, higher quality butter products, believing that low prices indicate a lower quality.
Functional and fortified butter and spreads are also expected to see an increase in popularity in 2021, with new product launches. For example, the popular Elais margarine continues to be heavily marketed as high in vitamins and omega-3 and free-from artificial preservatives.
Butter is expected to continue to see the best performance into the forecast period, with butter containing less fat and no salt becoming increasingly popular, as consumers will look for ways to improve their health. This trend will also be stimulated by organisations such as WHO, which will encourage a 30% reduction in average human salt intake by 2025.
More products are expected to be added to margarine and spreads into the forecast period. These are likely to be spreads made from a mixture of butter and margarine, such as Minerva’s launch of Fast Light with Butter, although there are also more radical innovations.
Butter packaging is set to play an important role in the market. The weight of the product or the packaging format will increasingly influence consumer choice of brand.
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Understand the latest market trends and future growth opportunities for the Butter and Spreads industry in Greece 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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