Europe is the largest consumer base of household margarine owing to the high demand and consumption of processed food. Following Europe, North America and Asia-Pacific are the largest consumers of Household Margarine. Latin America is expected to have the highest growth rate in the forecasted period. China and India are the largest producers of Margarine, and these are also expected to have a steady growth rate for consumption.
The global household margarine market is growing and gaining market penetration as manufacturer partners with online retailers and distributors. Partnering with online suppliers reduces the cost of the product and also optimizes the supply value chain.
Changing Consumer Preferences to Boost the Market Growth
As Household margarine is considered a healthy alternative than butter, the consumer base globally is expected to rise in the forecast period. Household margarine is a low-cost alternative to the butter and other fat-soluble emulsifiers. Owing to this, many households are opting for margarine as an alternate of butter.
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With increasing awareness among the global consumer base of the ingredients and process of manufacture, consumers are demanding household margarine made with organic, non-GMO ingredients that are also allergen-free.
With increasing household baking as the trend of home baking grows, it is expected to witness high demand growth, owing to its high nutrient value and cost-effectiveness. Margarine has a mild taste that does not overpower or mask the taste of bakery products, and margarine also provides the desired texture and fluffiness to the bakery items.
2019 is considered as the vegan year, as in this year there were maximum vegan product launches as nearly one in every four product launches in the UK were vegan products and largest jump of 1.2% in the vegan population. With such hype in demand for vegan products, household margarine is experiencing the cascading effect by an increase in its demand globally. Apart from the functionality and nutritional value, the fact that Margarine is a non-dairy alternative to butter enhances its global market demand considerably.
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Household Margarine: Market Segmentation
Based on Product Type, Household Margarine Market can be segmented as:
- Very Low-fat
Based on Distribution Channel, Household Margarine Market can be segmented as:
- Online Sales
- Offline Sales
- Specialty Stores
- Retail Stores
Based on Product Form, Household Margarine Market can be segmented as:
Based on Lipid Source, Household Margarine Market can be segmented as:
- Palm Oil
- Castor Oil
- Vegetable fat
Key Players of Global Household Margarine Household
Some of the key players of Household Margarine are Palsgaard, Unilever, Bunge, NMGK Group, ConAgra, Zydus Wellness, Wilmar-International, Fuji Oil, BRF, Yildiz Holding, Grupo Lala, NamChow, Cargill, COFCO, Uni-President, Mengniu Group, Yili Group, Brightdairy, and Saputo Dairy UK.
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