According to the latest report by IMARC Group “Margarine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, The global margarine market size reached a value of US$ 3.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 4.1 Billion by 2027, exhibiting a CAGR of 2.8% during 2022-2027.
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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We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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.
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
- Richardson International Limited
- Wilmar International Ltd.
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The report has segmented the market on the basis of Product Type, End-User and Region.
Breakup by Source:
Breakup by Form:
Breakup by Distribution Channel:
- Hypermarkets and Supermarkets
- Convenience Stores
- Specialty Stores
- Online Stores
Breakup by Application:
- Spreads, Sauces and Toppings
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
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