According to the latest report by IMARC Group, the global margarine market grew at a CAGR of 4% during 2015-2020. Looking forward, the market expects to continue its moderate growth during the next five years.
Margarine is a non-dairy substitute for butter, having a similar appearance, taste, consistency and nutritional value. It is produced by blending various refined vegetable oils, including corn, canola, palm, soybean, etc. Margarine is a good source of essential fat-soluble nutrients that helps in maintaining lower blood cholesterol levels and minimizing the risk of cardiovascular diseases. It is widely available in various forms such as cubes, sticks, tubs, liquid, spray, blocks, etc. As a result, margarine is extensively used across bakeries, confectioneries, and household cooking.
The increasing prevalence of lactose-intolerance disorders, along with the rising consumer health concerns towards the harmful impact of saturated fats, have led to a prominent shift from butter towards margarine. Furthermore, the escalating awareness towards the dairy-free content of margarine, growing vegan population, and changing consumer dietary patterns are also propelling the global margarine market. Moreover, the expanding bakery sector is further bolstering the utilization of margarine as an essential ingredient for adding volume and texture to baked goods. Besides this, 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 that are 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.
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Note: 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.
Global Margarine Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Bunge Limited, Conagra Foodservice Inc., EFKO Group, NMGK Group, PURATOS, Richardson International Limited, Vandemoortele and Wilmar International Ltd.
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The report has segmented the market on the basis of Source, Form, Distribution Channel, Application and Region.
Market Breakup by Source:
Market Breakup by Form:
Market Breakup by Distribution Channel:
Hypermarkets and Supermarkets
Market Breakup by Application:
Spreads, Sauces and Toppings
Market Breakup by Region:
Middle East and Africa
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