Dairy spreads market in Spain

Earlier Report Observations

The Spanish dairy spreads market expanded from 3 887 t in 2018 to 4 855 t in 2020. This growth was initially supported by the September 2018 launch of a new clean-label, plant-based liquid margarine by Bunge Loders Croklaan, which catered to rising consumer demand for healthy, non-dairy alternatives amid concerns over obesity and diabetes.

After a modest contraction in 2021, market volume jumped to 5 433 t in 2022. An inflationary spiral driven by the conflict in Ukraine and record-high raw milk prices increased production costs. Consumers responded by shifting towards private-label products, which helped sustain volume growth while market value surged by 24% to 23.8 million USD due to elevated retail prices.

Market volume peaked at 5 894 t in 2023, with value growth continuing as the dairy industry absorbed part of the cost inflation to stabilize consumer prices. By 2024, volume receded to 5 527 t, but market value rose further to 29.1 million USD, sustained by persistent high costs for energy and raw materials and the strengthened role of private-label brands as a refuge for cost-conscious buyers.

Production dairy spreads in Spain

In value, 2017-2020, K $ US

After two years of growth, Spain's dairy spreads production volume declined. In 2020, the output of dairy spreads was valued at 7 099 K $ US in Spain, showing a gradual reduction of 6.2% compared to the previous year. Over the period from 2017 to 2020, production increased by 31.7%, with a compound annual growth rate of 9.6%. The maximum value was recorded in 2019 at 7 567 K $ US, while the largest increase occurred in 2018 with a 27.5% rise.

Annual dynamics of production in Spain in value, 2017-2020, K $ US

In kind, 2017-2020, t

Following a two-year increase, Spain's dairy spreads production declined. In 2020, 2 174 tonnes of dairy spreads were produced in Spain, showing a moderate decrease of 7.9% compared to 2019. From 2017 to 2020, production increased by 14.7%, with a compound annual growth rate of 4.7%. The maximum value was recorded in 2019 at 2 360 tonnes, and the largest increase was also in 2019 with a 16.8% rise.

Annual dynamics of production in Spain in kind, 2017-2020, t

Exports dairy spreads from Spain

Exports in kind, t

The market exhibited an unstable trend throughout the timeframe. Export volumes fell to a trough in 2019 and peaked in 2020, with a 1.8-fold difference between these years. In 2020, Spain's volume of dairy spreads exports totalled 16 tonnes, up by 82.3% compared with 2019. The minimum value was recorded in 2019 at 9 tonnes, while the largest decline occurred in 2018 with a 29.5% drop.

Annual dynamics of product's exports from Spain in kind, 2017-2020, t

From 2017 to 2020, Germany, Equatorial Guinea, and Portugal continued to lead as the top buyers of dairy spreads from Spain. Germany accounted for 24.5% of exports in kind, Equatorial Guinea for 21.3%, and Portugal for 20.3%, jointly taking 66.1% of total exports in kind.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Spain in kind, 2017-2020

Exports in value, K $ US

In 2020, dairy spreads shipments from Spain to abroad amounted to 128 K $ US, up by 52.0% from a year earlier. Between 2017 and 2020, exports increased by 62.9%, equating to an annualized rate of 17.7%. The largest decline was recorded in 2019 with a 2.0% decrease.

Annual dynamics of product's exports from Spain in value, 2017-2020, K $ US

Throughout 2017 to 2020, Germany, Portugal, and Equatorial Guinea played the leading roles in the value terms of dairy spreads exports from Spain. Germany accounted for 28.4% of exports in value terms, Portugal for 18.8%, and Equatorial Guinea for 18.2%, jointly taking 65.4% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Spain in value, 2017-2020

Imports dairy spreads to Spain

Imports in kind, t

Spain's dairy spreads imports increased for the third consecutive year. In 2020, the import volume came to 2 697 tonnes, equivalent to an increase of 25.4% versus the previous year. Between 2017 and 2020, imports increased by 81.4%, equating to an annualized rate of 22.0%.

Annual dynamics of product's imports to Spain in kind, 2017-2020, t

From 2017 to 2020, Belgium, Germany, and Ireland were the main markets for imports in kind. Belgium accounted for 40.6% of imports in kind, Germany for 25.3%, and Ireland for 16.5%, together accounting for 82.3% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Spain in kind, 2017-2020

Imports in value, K $ US

The volume of dairy spreads imports in Spain increased for the third consecutive year. In 2020, imports stood at 13 166 K $ US, which is 28.7% more versus the previous year. Over the period from 2017 to 2020, imports increased by 85.1%, with a compound annual growth rate of 22.8%.

Annual dynamics of product's imports to Spain in value, 2017-2020, K $ US

Over 2017 to 2020, Belgium, Germany, and Ireland were the main suppliers of dairy spreads to Spain in value terms. Belgium accounted for 43.0% of imports in value terms, Germany for 20.1%, and Ireland for 17.7%, together comprising 80.8% of total imports in value terms.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Spain in value, 2017-2020