Butter and spreads responded well to the COVID-19 pandemic in 2020, with current value sales rising notably. As the product area is an essential item, demand increased as consumers spent more time at home and therefore cooked more.
In 2021, cooking fats will continue to see declining current values sales. Cooking fats has been declining for some time as a result of the growing health and wellness trend.
There will not be any changes in the competitive landscape in 2021, given the strong position of domestic manufacturers. Eurasian Foods Corp will remain a strong leader in the product area, followed by Maslo-Del and Wimm-Bill-Dann Produkty Pitania, with domestic and Russian brands, such as 3 Zhelaniya, Shedroe Leto, Irtish and Domik v Derevne to the fore as they are perceived as offering good-quality products at affordable prices.
Over the forecast period, similar trends present in 2021 will continue. For example, margarine and spreads will continue to witness the most dynamic current value growth.
Since the outbreak of COVID-19, e-commerce has strengthened its position, with internet retailers able to offer remote orders and contactless delivery. Over the forecast period, the development of e-commerce is expected to increase as many e-commerce stores have proved to offer quality and convenience to consumers.
Cooking fats are not anticipated to revive at any point over the forecast period. The product area is perceived as outdated with questionable nutritional value.
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