Global margarine market is projected to grow at a CAGR of 2.86% during the forecast period.
- The market for margarine is being driven by the product’s cost-effectiveness. It is a low-cost alternative to butter and other fat-soluble spreads. The use of industrial margarine reduces the cost of end products. In the bakery industry, margarine is widely used as an ingredient in products, such as pastries, doughnuts, and cookies, thus, the bakery sector holds a significant role in the application of industrial margarine.
- As the consumers across the world are demanding for clean label and sustainable products, the manufacturers are under the pressure of developing suitable solutions to cater to the market and satisfy the consumer needs. The newly developed margarine products with non-GMO, allergen-free and other beneficial claims are therefore anticipated to drive the market of margarine in the near future
Key Market Trends
Increasing Application in Bakery Industry
Bakery products are an item of mass consumption in view of its low price and high nutrient value. With the rapid growth and changing eating habits of people, bakery products have gained popularity among the masses. This has resulted in an emergence of a large number of small-scale bakeries, and artisanal bakeries across the globe. The industrial margarine is often neutral or mildly flavored so that its regular taste does not overshadow the flavor of the product. Margarine also helps to add volume, texture, and grain to the bakery products and is thus considered by the industries for providing ideal properties to the products. While butter is high in saturated fat, margarine is rich in unsaturated fat and sometimes trans fat. The health effects of saturated fat are highly controversial while those of trans fats are no less. Therefore, many bakers are opting for trans-fat-free margarine brands and select products made with healthy oils, such as olive oil to obtain the best baking results, which is anticipated to promote the market growth in the near future.
Europe holds the Largest Share in Margarine Market
The global margarine market is dominated by Europe, which holds the largest market share. It is followed by North America, Asia-Pacific, South America, and Africa. Europe is the largest consumer of margarine, especially due to the high consumption in food processing. Furthermore, Germany and France are the largest consumers in Europe. North America 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.
Major players in the market have a broad geographical presence and an extensive product portfolio, to cater to numerous foodservice operators, retail, and industrial demands. This factor assists the company to maintain a strong foothold in the market. The major players in the global margarine market include Bunge, BRF SA, Upfield BV, Richardson International Limited, and Fuji Oil Co. Ltd amongst others.
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