Butter and spreads recorded an improved performance in retail volume growth terms in 2020, when most Peruvians began cooking, baking and eating at home more often due to remote working and lockdown measures imposed to curb the spread of COVID-19. However, in 2021 it is expected overall retail volume sales will decline marginally as consumers start spending more time outside the home or ordering in more frequently in line with the easing of the pandemic and a nascent economic recovery.
Despite the fact that butter and spreads are staples in Peruvian homes, there were no private label products present in this category as of early 2021. Cencosud added margarine products to its Wong and Metro private label lines in 2013, but they were withdrawn only two years later.
Independent small grocers is the most important distribution channel for butter and spreads in Peru, followed by other grocery retailers, supermarkets and hypermarkets. In 2020, independent small grocers and supermarkets gained ground in this category as concerns about community transmission of COVID-19 saw consumers favour retail outlets closer to home that were less likely to attract large crowds.
Margarine and spreads is expected to remain the largest category within butter and spreads in retail volume sales terms over the forecast period. This is partly due to relatively low unit prices and its offer of an extensive assortment of brands, product types and pack sizes.
Grupo Gloria plans to launch more than 20 new dairy products in Peru in 2021, including some in butter and spreads. In particular, it is likely to add new reduced fat variants to its offer in this category to keep pace with rising health-consciousness among consumers, and may also introduce a premium butter product.
A number of butter brands in Peru have introduced premium products since 2019, including P&D Andina’s Danlac and Plusa from Plantas Lecheras Unidas. However, as of mid-2021 these products were still only available via a handful of supermarkets.
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Understand the latest market trends and future growth opportunities for the Butter and Spreads industry in Peru 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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