Butter and spreads is expected to register a stagnant sales performance over the forecast period, with maturity of demand and negative demographic trends expected to put pressure on demand. As butter and, in particular, margarine are already considered essential products that are consumed on a daily basis in the majority of Macedonian households, there is limited potential for future growth in per capita consumption, while North Macedonia’s shrinking population means a smaller consumer base for the category as well.
Butter is expected to continue outperforming margarine and spreads during the forecast period, with butter slated for positive volume growth, while volume sales of margarine and spreads are expected to continue declining, albeit at a marginal pace. Recent years have seen butter’s image improve and it is now seen as a healthy alternative to margarine and spreads .
The margins of the leading players in margarine and spreads are expected to come under pressure during the forecast period due to high inflation and the interruptions that have been caused to the supply of vegetable oil, a key input into the margarine manufacturing process, due to the Ukraine conflict. This is expected to see them focus more on spreads, a much more dynamic and promising product type in comparison with margarine, not least as it is easy to add value to such products and mitigate the impact of reduced margins.
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Understand the latest market trends and future growth opportunities for the Butter and Spreads industry in North Macedonia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Butter and Spreads
This is the aggregation of butter, cooking fats and margarine and spreads.
See All of Our DefinitionsThis report originates from Passport, our Butter and Spreads research and analysis database.
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