Margarine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Margarine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

The global margarine market size reached US$ 3.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2028, exhibiting a growth rate (CAGR) of 3.6% during 2022-2028.

Margarine is a non-dairy alternative for butter having a similar appearance, consistency, taste, and nutritional value. It is produced by the amalgamation of various refined vegetable oils, including corn, palm, canola, soybean, etc. Margarine acts as a good source of essential fat-soluble nutrients that aid in maintaining lower blood cholesterol levels and reducing the risk of cardiovascular diseases. It is widely available in different forms such as sticks, cubes, tubs, liquid, spray, blocks, etc. Margarine is extensively used across bakeries, confectioneries, and household cooking.

Margarine Market Trends:

The rising consumer health concerns towards the negative impact of saturated fats have led to an increasing shift from butter towards margarine. Additionally, the high prevalence of lactose-intolerance disorders coupled with the growing awareness towards the dairy-free content of margarine is further propelling the product demand. In line with this, the increasing adoption of vegan trends and changing consumer dietary habits are also driving the market for margarine. Moreover, the expanding bakery sector is further augmenting the utilization of margarine in preparing pastries, doughnuts, cookies, etc. Several small-scale and artisanal bakeries are shifting from butter towards margarine as an essential ingredient for adding volume, texture, and maintaining its neutral taste to enhance flavors in the baked goods. Apart from this, the growing consumer consciousness towards clean-label and sustainable products has led to the emergence of non-GMO, allergen-free, and naturally-sourced margarine. Several manufactures are introducing organic and low-calorie variants of margarine that are made up of healthier vegetable oils, such as olive oil, palm oil, corn oil, etc. This is further expected to drive the global market for margarine over the forecasted period.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global margarine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on source, form, distribution channel and application.

Breakup by Source:

Plant

Animal



Breakup by Form:

Sticks

Cubes

Tubs

Liquid

Others



Breakup by Distribution Channel:

Hypermarkets and Supermarkets

Convenience Stores

Specialty Stores

Online Stores

Others



Breakup by Application:

Household

Bakery

Confectionery

Spreads, Sauces and Toppings

Others



Breakup by Region:

North America

United States

Canada

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Turkey

Saudi Arabia

United Arab Emirates

Others



Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being Bunge Limited, Conagra Brands, Inc., EFKO Group, NMGK Group, PURATOS, Richardson International Limited, Vandemoortele and Wilmar International Ltd.

Key Questions Answered in This Report

1. What was the size of the global margarine market in 2022?

2. What is the expected growth rate of the global margarine market during 2023-2028?

3. What are the key factors driving the global margarine market?

4. What has been the impact of COVID-19 on the global margarine market?

5. What is the breakup of the global margarine market based on the source?

6. What is the breakup of the global margarine market based on the form?

7. What is the breakup of the global margarine market based on distribution channel?

8. What is the breakup of the global margarine market based on the application?

9. What are the key regions in the global margarine market?

10. Who are the key players/companies in the global margarine market?