The latest report by IMARC Group, titled “Margarine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global margarine market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2028, exhibiting a growth rate (CAGR) of 2.6% during 2023-2028.
Margarine refers to a non-dairy substitute for butter with a similar taste, appearance, consistency, and nutritional value. It is manufactured by blending various refined vegetable oils, including canola, corn, soybean, palm, etc. Margarine acts as an excellent source of essential fat-soluble nutrients that help in minimizing the risk of cardiovascular diseases and maintaining lower blood cholesterol levels. It is widely available in several forms, such as sticks, liquid, blocks, cubes, tubs, sprays, etc. Consequently, margarine is extensively used across bakeries, confectioneries, and household cooking.
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Margarine Market Trends and Drivers:
The increasing prevalence of lactose-intolerance disorders and the rising consumer health concerns towards the harmful impact of saturated fats have led to a notable shift from butter towards margarine. Additionally, the changing consumer dietary patterns, rising awareness about the dairy-free content of margarine, and the growing vegan population are also propelling the global margarine market. Besides this, the expanding bakery sector is further increasing the usage of margarine as an essential ingredient for adding texture and volume to baked items. Furthermore, the growing consumer consciousness towards clean-label and sustainable products has led to the emergence of allergen-free, non-GMO, and naturally sourced margarine. Several manufacturers are producing organic and low-calorie variants of margarine made up of healthier vegetable oils, such as palm oil, olive oil, corn oil, etc., which is expected to further drive the market growth in the coming years.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Bunge Limited
- Conagra Foodservice Inc.
- EFKO Group
- NMGK Group
- PURATOS
- Richardson International Limited
- Vandemoortele
- Wilmar International Ltd.
The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Source:
- Plant
- Animal
Breakup by Form:
- Sticks
- Cubes
- Tubs
- Liquid
- Others
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
- Others
Breakup by Application:
- Household
- Bakery
- Confectionary
- Spreads, Sauces and Toppings
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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