During the latter part of the review period prior to the onset of the pandemic, retail volume sales of butter and spreads were in decline. This was mainly due to a significant increase in the unit price of butter and a growing perception of margarine and spreads as unhealthy.
Even during 2020, retail volume sales of margarine and spreads continued to decline, due in large part to increased demand for butter. While retail volume sales of margarine and spreads will continue to fall in 2021, they will do so at a more moderate rate, as demand for butter recedes from its lockdown peak.
Health and wellness remains underdeveloped in butter and spreads, with free-from lactose and reduced fat and salt offerings still hard to find. The main reason for this is a conservative attitude to butter among local consumers: It is perceived as a traditional product that must contain animal fats and proteins and nothing else.
Retail volume sales of butter and spreads will continue to decline throughout the forecast period. However, retail current value sales will increase due to ongoing unit price growth, although this will be weaker than in the review period.
Retail volume sales of margarine and spreads will decline at an accelerated rate during the forecast period. Deepening consumer interest in health and wellness be the main driver of this.
Despite benefitting from increased consumer interest in home cooking during 2020 due to the pandemic, cooking fats remain a niche category in Russia, with no more than marginal growth in retail volume sales anticipated during the forecast period. Heightened consumer interest in health and wellness and international cuisine, particularly Asian food, will be the main drivers of this.
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This report originates from Passport, our Butter and Margarine research and analysis database.
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