Global margarine market is projected to grow at a CAGR of 2.14% during the forecast period.
- Global margarine market is driven by the increasing consumption of margarine, growing bakery and confectionery industry, and low price of margarine. In addition, the increasing contribution of modern margarine in the dietary fat intake further provides significant opportunities for the various stakeholders in this market.
- The demand for margarine is also driven by the fact that margarine is a cheaper alternative to butter. Availability of other alternatives for margarine and health-related concerns of fat consumption may restrain the growth of the otherwise consistently growing industry.
Scope of the Report
The global margarine market can be broadly segmented into four major segments that include the product type, usage, distrubution channel, and geography. By the product type, margarine can be classified into butter margarine, liquid margarine, and others. The butter margarine segment has the highest demand, followed by liquid margarine. By usage, the market is segmented into spreadable and non-spreadable margarine. By distribution channel, the market is segmented into retail, food sector, and industrial. Moreover, the study provides an analysis of the margarine market in the emerging and established markets across the world, including North America, Europe, Asia-Pacific, South America, Middle East & Africa.
Key Market Trends
Increasing Demand for Butter Alternative
The global margarine industry is largely driven by the changing lifestyles and dietary habits, due to a shift in the consumer preference towards natural products.The demand is also driven by the fact that margarine is a cheaper alternative to butter. The growth in the consumption of margarine has been accelerated by improvements in the methods of refining oils and compounding margarine, which have resulted in the production of products of superior quality, closely approximate butter in flavor, consistency and nutrients values. The various factors such as growing concerns about cholesterol and saturated fats intake, changing lifestyles, and increased aging population have resulted in the decline in the use of butter and increase in the demand for vegetable fats such as margarine.
North America Holds the Major Share in Margarine Market
The global margarine market is dominated by North America, which holds largest market share. It is followed by Europe, Asia-Pacific, South America, and Africa. North America is the largest consumer of margarine, especially due to the high consumption in food processing. The United States and Canada are the largest consumers in North America. Europe is the second largest consumer of margarine. Developing regions, such as Asia-Pacific and South America, are constantly growing at a high rate of consumption. China and India are the largest producers and consumers of margarine, in the Asia-Pacific region.
Immense competition exists in the global margarine market due to two reasons – firstly, butter, natural fat, and other alternatives eating into the market share of margarine and secondly, high market concentration. The major players in global margarine market includes Bunge, China Agri-Industries Holdings, ConAgra, Dairy Crest, Unilever and Yidiz Holding amongst others.
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