Butter and spreads sales are anticipated to see a slightly lower growth rate in retail volume and current value terms in 2021 compared to the previous year. As consumers found more time, opportunity, and inclination in the initial stages of the pandemic and ensuing lockdown to prepare meals at home, the result was a spike in sales of butter and spreads in 2020.
Butter remains the leading product area in 2021. As an increasingly popular cooking ingredient, butter is heavily promoted in the mass media and trade press and also benefits from an improved offering and cooking trends dictating more frequent usage of butter.
Dijamant remains the clear leading player in butter and spreads in retail value terms in 2021. The producer continues to post positive retail value sales growth, thanks to the high popularity of its Dobro Jutro (“Good Morning”) brand.
Butter and spreads are anticipated to portray positive growth in both retail volume and current value terms over the forecast period. Many consumers are expected to remain price sensitive in the short term and are likely to rather buy margarine and spreads that are more affordable products than butter, thus the former is likely to see the most retail value growth in constant 2021 prices while cooking fats is expected to see a small upturn because of the nascent notion among consumers that using cooking fats when frying and cooking food is actually tastier, better and healthier than using “traditional” sunflower oil.
Independent small grocers continue to hold a significant value share in butter and spreads in 2021. Nevertheless, it continues to lose percentage points of its value share and is expected to continue to see a decline over the forecast period as well.
Over the forecast period we anticipate butters and spreads companies to launch new, innovative products that will draw consumer interest, such as flavoured butter and margarine and spreads, as well as a growing offer of healthier variants such as reduced fat or plant-based butter and spreads that are in line with the health and wellness trend that is increasingly gaining traction in Serbia.
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Understand the latest market trends and future growth opportunities for the Butter and Spreads industry in Serbia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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This report originates from Passport, our Butter and Spreads research and analysis database.
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