Industrial Margarine Market: Current Analysis and Forecast (2021-2027)

Industrial Margarine Market: Current Analysis and Forecast (2021-2027)

The Global Industrial Margarine is Expected to Display an Elevated CAGR of around 5% over the forecast period (2021-2027)

Industrial margarine is a cost-effective, low-risk intervention that may lower body mass index, blood pressure, HbA1C, and cholesterol levels. Margarine is made from vegetable oils, so it contains unsaturated good fats — polyunsaturated and monounsaturated fats. These types of fats help reduce low-density lipoprotein (LDL), or bad, cholesterol when substituted for saturated fat. They also help in reducing the number of medications needed to treat chronic diseases and lower ischemic heart disease mortality rates. Currently, 60% of Americans have at least one chronic condition, and 40% have multiple chronic conditions. As per WHO, one person dies every 36 seconds in the United States from cardiovascular disease. About 659,000 people in the United States die from heart disease each year, that’s 1 in every 4 deaths.

Moreover, the growing traction towards veganism is also leading to the growth of industrial margarine. As per Veganbits, 7.53 billion vegan people are living worldwide, out of which, 1.2 billion people are living in Africa. People are drawn to vegetarianism for a multitude of reasons, some of which include religion, ethical motivation, health, environmental conservation, economic factors, dislike of meat, and culture. Consuming plant-based foods is just a trend for Millennials and younger generations. Millennials and Gen Z make up 30-32% of the population, respectively, creating the enormous market potential for plant-based foods. As per Nielsen, 85% of Canadians and 83% of United States people are preferring plant-based food over animal-based food.

Wilmar International, Congara, Bunge, Puratos, Associated British Foods, Fuji Oil, Richardson International, Royale Lacroix , Aigremont, EFCO Group, etc., are some of the prominent players operating in the Industrial Margarine market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.

Insights Presented in the Report

“Amongst type, All-Purpose segment grabbed major market share”

Based on the type, the market is fragmented into Spreadable, All-Purpose, and Butter Blend. The all-purpose segment grabbed XX% market share and dominated the market. The market of this segment would reach USD XX Mn by 2027. The growing application of all-purpose in baking and cooking is leading to the growth of this segment. However, the butter blend segment is expected to witness a robust CAGR in the forthcoming years.

“Amongst application, confectionery segment to grab considerable market share”

Based on the application, the market is fragmented into Bakery, Confectionery, Convenience Food, Spreads- Sauces & Toppings, and Others (Dessert & Snacks). The bakery segment grabbed XX% market share and dominated the market. The market of this segment would reach USD XX Mn by 2027. Growing demand for the bakery products such as cakes, pastries, etc., is contributing to the growth of the segment.

“Amongst form, hard segment to grab considerable market share”

Based on the form, the market is fragmented into hard and soft. The hard segment grabbed XX% market share and captured USD XX Mn market in 2020. Harder margarine is used in the bakery industry. The growing bakery industry across the globe is contributing to the growth of this segment.

“Amongst Source, plant segment to grab considerable market share”

Based on the source, the market is fragmented into plants and animals. The plant segment grabbed the major market share and dominated the market. However, the animal segment would witness a considerable CAGR in the forthcoming years.

“North America represents one of the largest markets of Industrial Margarine market”

For a better understanding of the market adoption of the Industrial Margarine Market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America region grabbed XX% market for the Industrial Margarine Market industry and generated revenue of USD XX Million in 2020. However, the Europe region would witness the highest CAGR during the forthcoming years

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