The forecast retail volume consumption of butter and spreads in the UK has a pessimistic trajectory, due to the significant COVID-19-motivated increase in consumption in 2020, which is projected to lead to a gradual decline, with a negative retail volume CAGR between 2022 and 2027. In turn, current value sales are set to see growth, as substantial price increases are projected to be seen in butter and spreads.
A fundamental story in butter and spreads is the rapid development of plant-based alternatives. Positioning products in the butter and spreads space as vegan allows brands to work around the negative perception amongst consumers towards the highly processed margarine and spreads category.
The recovery of the foodservice industry appears to be slowing down, as inflation and the cost of living as a whole are expected to remain high throughout the remainder of 2022 and 2023. As a result, sales of butter and spreads in retail are likely to hold up fairly well in volume terms, displaying a good performance relative to 2019 for several more years, despite the declining trajectory.
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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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