The word "margarine" is derived from the Latin phrase oleum, which means "olive". The earliest margarines were derived from animal fats, such as cow and pork tallow, but today, most margarines are made from vegetable oils. These oils are typically rich in monounsaturated and polyunsaturated fatty acids. This provides a healthier alternative to butter, but not all margarines are created equal. Although margarine is considered a healthy, high-fat alternative to butter, it is not considered a dietary staple. It is often used in baking and can be found in recipes that call for butter. While some margarines are made entirely of plant-based oils, other products use mixtures of soy, corn, palm, canola, and olive oils.
Market Statistics:
The global Margarine Market is estimated to account for US$ 22,871.9 Mn in terms of value by the end of 2023.
Global Margarine Market: Drivers
Rising consumer awareness and a shift towards healthier lifestyles are driving demand for margarine across the globe. Additionally, millennial are increasingly recognizing the health benefits of a healthy diet. Hence, manufacturers are investing in new products with lower calories and allergen-free margarine. Also, a growing population of lactose-intolerant consumers is driving the industry growth. According to the Cleveland Clinic, around 36% of Americans and 68% of the world population have some degree of lactose intolerance
Global Margarine Market: Opportunities
Due to rise in consumption, the margarine market has seen growth in recent years. Industrial margarine is a vegetable oil-based product, containing color, flavoring, and preservatives. Increasing demand from food processing industries, confectionery, bakery, and other end use sectors are expected to provide significant growth opportunities. Hence, increasing demand from food manufacturing and confectionery industries and a shift to a healthier diet by the millennial are among the major factors that will boost the demand for margarine over the coming few years
Global Margarine Market: Restraints
The presence of trans-fats in the margarine is a restraining factor for the growth of the market.
Global Margarine Market - Impact of Coronavirus (Covid-19) Pandemic:
The massive spread of coronavirus across the world hampered many industries, including the food & beverage industry. Owing to imposed of lockdowns and restrictions, food & beverage ingredient manufacturing companies in many countries were operating with limited numbers of employees, which affected the demand-supply of products and also resulted in the reduced production of margarine.
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https://www.coherentmarketinsights.com/market-insight/margarine-market-5521
Key Takeaways:
The global margarine market was valued at US$ 21,936.8 Mn in 2022 and is forecast to reach a value of US$ 27,520.5 Mn by 2030 at a CAGR of 2.34% between 2023 and 2030.
Soft segment held dominant position in the global margarine market in 2022, accounting for 58.35% share in terms of value, increasing approval and launch of new products is expected to propel growth of the segment during the forecast period.
Global Margarine Market Trends:
Expansion of ecommerce sector due to growing digitalization is projected to favour the market growth. According to the reviewlution.ca, worldwide online sales were US$3.9 trillion at the end of 2020. 22% of global sales will be conducted online by 2023. Moreover, rising disposable income and an increase in packaged foods will further favour the market growth.
Growing trend of plant-based food products is expected to uplift the market growth. For instance, in 2022, Flower Farm launched a palm oil-free margarine in the United Kingdom for the first time. This margarine replaces palm oil with shea butter and is purely plant-based and gluten- and lactose-free.
Global Margarine Market: Competitive Landscape
Royale Lacroix, Bunge Limited, Conagra Brands Inc., Wilmar International, Puratos NV, Associated British Foods, Land O'Lakes Inc., Upfield Holdings BV, NMGK Group, Vandemoortele, Remia CV, Richardson International Limited, BRF SA, and Fuji Oil Holdings Inc.
Global Margarine Market: Recent Developments
- In October 2017, Vandemoortele Company invested about EUR 30 million to expand the production capacity of the company by opening a new production facility in Kunto.
- In September 2018, Bunge Loders Croklaan, a global producer of sustainable premium quality vegetable oils and fats, has launched its new, next-generation, liquid margarine: Delica Pro Gold. Delica Pro Gold is a liquid, non-hydrogenated margarine without E-numbers and contains no artificial colors or flavors. Delica Pro Gold is low in saturated fatty acids and high in functionality.
