Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Margarine market.
Trusted Business Insights presents an updated and Latest Study on Margarine Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Margarine market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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Report Overview: Margarine Market
The global margarine market size was valued at USD 2.53 billion in 2020 and is expected to witness significant growth in the forthcoming years. Increasing adoption of bakery and confectionery as a dessert among all the age groups is expected to positively influence the market growth in the upcoming years.
Furthermore, health benefits associated with margarine, including a reduction in low-density lipoprotein (LDL), are expected to play a substantial role in driving the product demand among the health-conscious consumers. Suitability of margarine for the lactose intolerant population as it is a plant-based dairy-free option is also expected to increase the market growth in the years to come.
The scope of the product has widened over the world due to the growing aging population. According to the United Nations Department of Economic and Social Affairs, the population aged 65 or above is anticipated to double by 2050. Growth of this population group will shift the consumption pattern towards healthier alternatives in the upcoming years. Therefore, demand for heart-friendly products, such as margarine, is expected to increase in the near future.
Moreover, health-conscious consumers increasingly prefer the product owing to its low fat, low calorie, and low cholesterol properties. In addition, demand for margarine will remain high in the nations, including China and India, owing to the price consciousness of the consumers. Along with households, a large number of food producers are adopting margarine as a sustainable, affordable, and healthier raw material.
Stringent regulations and increasing need to meet international quality standards have been posing a challenge for the market. In addition, increasing occurrence of obesity-related health issues and disorders are encouraging consumers to avoid the consumption of fat. This trend is expected to hamper industry growth in the upcoming years.
Application Insights: Margarine Market
The commercial application segment lead the margarine market in 2019 with over 80% share of the total revenue. Bulk requirement of margarine in the food manufacturing sector, hotels, restaurants, and cafes has fueled the commercial use of the product. Bakery products have gained significant popularity as processed or ready-to-eat food owing to their increasing acceptability and affordability. Furthermore, the rising number of cafes and restaurants in countries, such as India and China, has boosted the growth of the segment.
The household application segment is expected to witness the fastest growth over the forecast period 2021-2027. Over the past few years, there has been a shift in consumer preferences for low-fat spreads. As a result, margarine is gaining popularity as a table spread owing to its health benefits and affordability. Furthermore, margarine functions as a multipurpose fat in the household sector for preparing numerous foods, including sauces, pan-fried foods, and baked items.
Product Insights: Margarine Market
Hard margarine lead the market with more than 50% share of the total revenue in 2019. These products contain more trans-unsaturated fatty acids or trans fats as compared to soft and liquid forms. They are used in both homemade and factory manufactured bakery items, such as cookies, crackers, pies, rusks, croissants, doughnuts, and cakes. Demand for hard margarine has increased among the bakery manufacturers due to rising consumption of packaged biscuits and cookies. Widespread application of the product in the food industry is a key factor boosting the segment growth.
The liquid segment is expected to witness the fastest growth over the forecast period. Over the past few years, liquid margarine has been gaining significant popularity among the consumers for cooking and baking. It contains less trans-fat and calories as compared to hard margarine and butter and it is cholesterol-free. These properties have been compelling the consumers to use it in several dishes, such as pasta, vegetables, and soup or puree. In addition, liquid margarine has excellent ingredient distribution and whipping properties, which is required for cake production. Therefore, margarine is expected to witness high demand in both the household and commercial sectors in the near future.
Regional Insights: Margarine Market
North America lead the market in 2019 with more than a 35% share of the global revenue due to presence of a large consumer base. U.S. is a key market in this region. Over the past few years, consumers of this nation are opting for alternatives to butter owing to its health risks. Therefore, margarine has become a healthy substitute for butter in the region. The prominent brands in the region include Country Crock, I Cant Believe Its Not Butter!, Bluebonnet, Imperial, Smart Balance, Earth Balance, Parkay, and Land O Lakes.
Asia Pacific is expected to witness the fastest growth over the forecast period. Rapidly growing food processing industry in the region is projected to positively impact the demand for margarine in the upcoming years. Furthermore, increasing health concerns among the consumers are fueling the regional market growth.
Margarine Market Share Insights: Margarine Market
Key market players include
- Bunge Limited
- NMGK Group
- Conagra Brands, Inc.
- Wilmar International Ltd.
- Yildiz Holding
- China Mengniu Dairy Company Limited
Companies are expanding their business through strategies, such as merger & acquisition and product launch.
For instance, in September 2018, Bunge Limited introduced Delica Pro Gold, a liquid margarine, under its Bunge Loders Croklaan brand. Delica Pro Gold is a non-hydrogenated product that contains no artificial flavors or colors and is made with plant-based oils. As per the company, this liquid margarine increases the volume of a food item and offers a uniform structure, therefore it is an ideal ingredient for both industrial and artisanal bakeries.
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the global margarine market report based on product, application, and region:
Product Outlook (Revenue, USD Million, 2016 – 2027)
Application Outlook (Revenue, USD Million, 2016 – 2027)
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