The margarine market share is expected to witness growth at a CAGR of 4.9% and reach a valuation of USD 53.7 Billion by 2032. Vegan margarine is sourced from vegetable oils like palm, soybean and is available in variants like low-fat, low calorie and low cholesterol as a result demand for this product is expected to rise shortly.
As consumers adopted healthy lifestyle and decide to cut down extra calories from their daily food they are increasingly preferring low-fat spread that is way healthy than traditional butter. Such trends have boosted the plat-based products and margarine market trends as well.
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Margarine market key players are also emphasizing packaging and labelling as consumers analyze ingredients before purchasing products. Brands that are transparent about the components in the product are expected to gain consumer preference and strengthen the margarine market key trends and opportunities in the coming days.
Due to availability of raw material sales of margarine is getting profitable for the producers. This price benefit is passed down to consumers, as a result, a surge in demand for margarine products due to its affordability is predicted for during the forecast years.
Asia Pacific market is expected to be a promising market for margarine market players due to rising awareness about inclusion of nutritious food products and investments in research and developmental activities by the regional players.
Key Takeaways from Market Study
- The margarine market is expected to increase at CAGRs of 4.7% and 5% in North America and the Europe, respectively, through 2032.
- Market share of Latin America and Oceania is 5.1% and 4.9%, respectively, in 2022.
- The European margarine market is expected to reach US$ 4.2 Billion by the year 2032.
- Growing customer preference for healthy and plant-based nourishing food products to drive the sales of margarine across global markets.
- By form, plant-based margarine is expected to hold 60% of the global margarine market share and is expected to increase at a CAGR of 4.9%.
“Manufacturers of margarine are expected to gain significant market share as consumer behaviour shifts towards plant-based, sugar-free products that are beneficial for health, key brands are focusing on developing new flavours and product variants to stand out in the competition” says a Future Market Insights analyst.
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Competitive Landscape
Name of some of the margarine market major players profiled in the margarine market survey report includes Land O’ Lakes, Earth Balance, Imperial, Bluebonnet, Country Crock, I Can’t Believe It’s Not Butter, and Smart Balance Parkay among others
Key manufacturers of margarine are majorly focusing on research & development to offer different flavours of products ranging customization is expected to contribute maximum revenue generation through sale of margarine.
Change Foods revealed two strategic contracts: one with Upfield, the plant-based butter company that owns Violife, and the other with Sigma, the international yoghurt and Cheese Company. These collaborations are expected to help speed up product development and expand animal-free cheese manufacturing and distribution capabilities.
Explore More Valuable Insights
Future Market Insights, in its new report, offers an impartial analysis of the global margarine market, presenting historical data (2017-2021) and estimation statistics for the forecast period of 2022-2032.
Margarine Market by Category
By Source, Margarine Market is Segmented as:
- Animal -Based
- Plant-Based
By Form, Margarine Market is Segmented as:
- Sticks
- Liquid
- Tubs
- Cubes
By Sales Channel, Margarine Market is Segmented as:
- Offline Sales Channel
- Supermarkets/Hypermarkets
- Departmental Stores
- Convenience Store
- Other Sales Channel
- Online Sales Channel
- Company Website
- E-commerce Platform
By Region, Margarine Market is Segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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