Sweet spreads witnessed a downturn in performance over the review period with contracting volume and stagnating value sales; however, they slowly reached a healthy growth rate in 2018. This was clearly the result of increasing consumer confidence and disposable incomes that influence the propensity to purchased products that are deemed non-essential and more of a treat.
While honey remains the most dominant within sweet spreads, it also witnessed one of the highest growth rates in 2018. Honey is traditionally a well-established product in Slovenia that extends beyond retail sales to domestic honey beekeepers that sell their homemade product directly to customers.
While 2018 witnessed limited product development and only several entrants, excluding honey, the average unit price only increased marginally. The increased disposable incomes and consumer confidence on the one hand encouraged sales of higher priced products although not to a large enough extent to counter the growing popularity of private label.
The largest retailer in Slovenia, Poslovni Sistem Mercator dd ranked first place in 2018, holding marginally higher value share than its nearest competitor Medex in a relatively fragmented landscape. Its widespread distribution network in partnership with local honey producers allowed the company to win consumer trust with a perceived good price/quality ratio.
Podravka ranked third and managed to gain marginal value share in 2018 due to its wide portfolio in chocolate spreads. The company improved its distribution network, and refreshed the image and positioning of its Podravka and Lino Lada brands.
In terms of marketing activity, the larger international players including Podravka and Ferrero notably invested in television commercials and press advertisements for their respective brands to sustain and gain share. The frequency of marketing activity is expected to increase during the forecast period as competition intensifies and other competitors need to catch up.
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This industry report originates from Passport, our Packaged Food market research database.