Plain Ol' Butter Gets Exciting
Retail dollar sales of oil and fats products will drop 5% from 2011 to 2016 in the U.S., according to a recent forecast by market researcher Euromonitor International. But butter seems to be gaining. Grocery-unit sales of butter grew 2.19% in the year ending May 13, compared with a 0.21% uptick in olive oil and a 6.24% decline in margarine, spreads and butter blends, according to SymphonyIRI dater. Marketers also adding flavors and spices to butter to fend off private labels and appeal to Millennials, per Phil Lempert, a food-industry analyst who runs the website SupermarketGuru. Butter giant Land O'Lakes is adding olive oil to some of its sticks, marking what it says is a category first. Meanwhile, a canola-oil-blended butter spread continues to gain attention, and some versions also include olive oil. Sea salt, cinnamon and sugar are also in the mix.