Key regions: Canada, Japan, United Kingdom, South Korea, United States
The Butter Market within the Oils & Fats sector in The Food market in Ireland is witnessing negligible growth. This stagnation is influenced by factors like changing consumer preferences, health concerns regarding saturated fats, and the rising popularity of plant-based alternatives.
Customer preferences: Consumers in Ireland are increasingly gravitating towards health-conscious choices, leading to a notable decline in butter consumption. This shift is fueled by a growing awareness of dietary health and the negative perception of saturated fats, prompting many to explore plant-based alternatives. Additionally, younger demographics are embracing vegan and flexitarian diets, influencing their purchasing decisions. Cultural trends emphasizing sustainability and ethical sourcing further drive the demand for non-dairy spreads, reshaping the traditional butter market landscape.
Trends in the market: In Ireland, the Butter Market within the Oils & Fats sector is experiencing a significant shift as consumers increasingly opt for health-conscious alternatives. This trend is driven by rising awareness of dietary health, leading to a decline in traditional butter consumption. The younger population, particularly those adopting vegan and flexitarian lifestyles, is actively seeking plant-based spreads, reflecting a broader cultural emphasis on sustainability and ethical sourcing. As these trends continue to gain momentum, industry stakeholders must adapt their product offerings and marketing strategies to align with evolving consumer preferences, potentially reshaping the competitive landscape.
Local special circumstances: In Ireland, the Butter Market within the Oils & Fats sector is shaped by unique local factors, including a rich dairy farming tradition and a strong emphasis on quality and heritage. The geographical landscape is conducive to high-quality milk production, which underpins the premium positioning of Irish butter. Culturally, there is a deep appreciation for traditional foods, yet a growing concern for health and sustainability is prompting shifts toward plant-based alternatives. Regulatory support for organic and sustainable farming practices further influences consumer choices, creating a distinct market dynamic that prioritizes ethical sourcing and innovation.
Underlying macroeconomic factors: The Butter Market within Ireland's Oils & Fats sector is significantly influenced by macroeconomic factors such as global dairy prices, trade agreements, and national economic stability. Fluctuations in global milk supply and demand can impact local producers' profitability and pricing strategies. Moreover, Ireland's strong agricultural policies and support for sustainable farming enhance the competitiveness of Irish butter in international markets. Economic growth and rising disposable incomes within Ireland further drive consumer spending on premium products. Concurrently, inflationary pressures can affect production costs, influencing pricing dynamics and consumer purchasing behaviors in the butter segment.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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