Key regions: Canada, Japan, United Kingdom, South Korea, United States
The Butter Market within the Oils & Fats sector in Lebanon is experiencing subdued growth, influenced by factors like fluctuating dairy prices, changing consumer preferences, and economic challenges that affect purchasing power and overall demand.
Customer preferences: Consumers in Lebanon are increasingly prioritizing health and wellness, leading to a notable shift towards butter alternatives and plant-based spreads as they seek lower cholesterol options. Additionally, younger demographics are gravitating towards organic and locally sourced products, reflecting a desire for transparency and sustainability in food sourcing. This trend is further compounded by the rise of social media influencers promoting healthier lifestyles, prompting a reevaluation of traditional dairy consumption and encouraging exploration of innovative culinary uses for butter and its substitutes.
Trends in the market: In Lebanon, the Butter Market within the Oils & Fats sector is experiencing a significant shift towards healthier options, with consumers increasingly opting for plant-based spreads as a response to health concerns. This trend is particularly pronounced among younger consumers who prioritize organic and locally sourced products, driven by a demand for transparency and sustainability. Social media influencers are playing a crucial role in reshaping perceptions around traditional dairy, encouraging innovative uses for butter and its alternatives. This evolution presents both opportunities and challenges for industry stakeholders, necessitating adaptations in product offerings and marketing strategies to align with consumer preferences.
Local special circumstances: In Lebanon, the Butter Market within the Oils & Fats sector is shaped by a rich culinary heritage that emphasizes traditional dairy products, yet is increasingly influenced by modern health trends. The country's diverse geography, with its agricultural regions, supports the production of both dairy and plant-based alternatives. Cultural preferences for local foods drive demand for artisanal butter, while regulatory shifts towards food labeling promote transparency. These factors create a dynamic landscape where traditional practices coexist with a growing appetite for healthy, sustainable options, compelling producers to innovate.
Underlying macroeconomic factors: The Butter Market within the Oils & Fats sector in Lebanon is influenced by macroeconomic factors such as fluctuating global dairy prices, national economic stability, and consumer purchasing power. As Lebanon grapples with economic challenges, including inflation and currency depreciation, consumers are becoming more price-sensitive, impacting demand for premium butter products. Additionally, shifts in fiscal policies aimed at supporting local agriculture promote domestic dairy production, enhancing the availability of artisanal butter. Furthermore, global health trends emphasizing natural foods and sustainability are pushing producers to adapt, driving innovation while maintaining traditional practices.
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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