There are signs that the worst of dairy inflation could be easing, although some recent concerns have arisen with Fonterra, a major producer of milk in New Zealand, raising its farm gate pricing in early 2024. One of the factors causing this increase is that exports of milk to China are yet to recover to their historic highs.
While price is always one of the main drivers of consumer choice, during times of economic uncertainty and high inflation it becomes the only factor for many in New Zealand. This presents a challenging situation for butter producers over the forecast period as quality and brand reputation will not hold the same weight as they once did.
Butter’s positioning is currently lacking in the health and wellness space, especially when other dairy categories such as drinking milk products and yoghurt have made significant enhancements to keep abreast of consumer trends. The main healthy alternative format of butter is unsalted varieties, giving consumers greater control over their salt intake.
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Understand the latest market trends and future growth opportunities for the Butter and Spreads industry in New Zealand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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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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