Butter and spread products are considered staples but are not consumed in large quantities, and Slovenians have continued to purchase these products during the pandemic as they are usually inexpensive. Moreover, increased home-cooking, particularly baking, has helped boost demand.
As well as offering lower-fat options that appeal to Slovenia’s health-conscious consumers, margarine and spreads will benefit from the lower price point of these products (compared to butter), as Slovenians face ongoing constraints on their household budgets in the wake of COVID-19. The economic situation in Slovenia was already complex before the pandemic, and an estimated 15,000 jobs were lost early in the year, taking the unemployment rate up to 10% (from 8%).
The competitive landscape in butter and spreads is set to remain largely unchanged in 2021, with Atlantic Trade doo retaining a strong lead ahead of its closest rival, Pomurske Mlekarne dd, thanks to the popularity and widespread availability of its Rama brand.
As Slovenian consumers become increasingly discerning in the coming years, ‘exotic’ tastes and health and wellness trends will become more visible in butter and spreads. For example, players are expected to add ingredients such as chia and flax seeds to margarine and to highlight the added fibre, protein and cholesterol-lowering properties of their products.
Over the forecast period, the growing health and wellness trend will continue to deepen in the wake of the pandemic. Slovenians will increasingly pay more attention to the relationship between diet and overall health, and this will lead to a decline in demand for unhealthy, fatty foods as consumers prioritise products with added health benefits.
Private label is expected to see its value share grow over the forecast period as a result of the COVID-19 pandemic. This will be due to more Slovenians having to economise at the beginning of the forecast period as purchasing power is restricted.
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Understand the latest market trends and future growth opportunities for the Butter and Spreads industry in Slovenia 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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