The global industrial margarine market is expected to record a CAGR of 5.1% between 2023 and 2033. In 2023, the market valuation is expected to be at US$ 2.69 billion. By 2033, the figures are expected to surge beyond US$ 4.42 billion.
Cases of lactose intolerance have been on the rise globally. According to specialists, over 68% of people experience some form of lactose intolerance. Given that they are free of milk and a great source of both vitamin D and vitamin A, this offers the market a big opportunity.
The opposition to eating food products containing genetically modified organisms (GMOs) has grown. Many consumers of GMO-based products have reported experiencing discomfort and disease. In addition, the nutritional value of these is significantly less than that of their organic equivalents because they are not naturally processed. As a non-GMO product, industrial margarine is produced. During the projected period, these factors are anticipated to drive up demand for industrial margarine.
Ask for Report Sample@
https://www.futuremarketinsights.com/reports/sample/rep-gb-16695
The countries of the Middle East are quite picky about halal certifications. The halal certification of the industrial margarine and its products has greatly increased consumer confidence.
The growing bakery market represents a world of opportunities in front of the industrial margarine sector. The global bakery products market is expected to cross a valuation of US$ 600 billion by 2030. Margarine is used in bakery products, as these act as an emulsifier and also assist in the spreading process.
There is also increased consumption of plant-based food products owing to surging vegans and a surging health consciousness. Industrial margarine does not contain animal fats, and this is expected to massively surge the adoption rate.
Thus, from the insights provided by FMI researchers, it can be inferred that ‘surging cases of lactose intolerance, rising consumption of non-GMO food, mandatory halal certification, and a lot of other factors are expected to surge the industrial margarine market share during the forecast period.’
Request for Report Customization@
https://www.futuremarketinsights.com/customization-available/rep-gb-16695
Key Takeaways:
- The market is expected to record a CAGR of 5.1% during the forecast period.
- In 2023, the market size is estimated to be US$ 2.69 billion.
- By 2033, the figure is expected to surge beyond US$ 4.42 billion.
- Based on regional analysis, North America is expected to hold the dominant market share. On the basis of CAGR, Asia Pacific is expected to hold the leading position.
- On the basis of type, the spreadable segment is expected to hold the leading market share during the forecast period.
- Based on application, the bakery segment is expected to hold the leading market share during the forecast period.
Competitive Landscape
The key players operating in the market are focusing on looking for leaders, who have been a part of the market for decades. Through their expertise, the manufacturers might expand their capabilities. The idea is also to develop strategies to get into meaningful mergers and acquisitions. This is done to expand the market share, and serve new regions. The manufacturers are also developing strategic partnerships with players from other niches to assess their technology. This may also help in knowledge sharing. With a focus all set on sustainable development, the key players are setting strategies that are in tandem with the United Nations’ sustainability goals. Thus, there is an increasing deployment of green practices, like working intensely to reduce carbon emissions.
Key developments in the market:
- In December 2022, Bunge decided to invest in a new protein concrete facility in the United States.
- In August 2022, Conagra Brands promoted Tracy Schaefer to Chief Information Officer.
Talk to Analyst@
https://www.futuremarketinsights.com/ask-question/rep-gb-16695
Industrial Margarine Market Segmentation
By Type:
- All Purpose
- Spreadable
- Butter Blend
By Form:
- Hard
- Soft
By Source:
- Plant
- Animal
By Application:
- Bakery
- Spreads
- Sauced and Toppings
- Confectionary
- Convenience Foods
- Other Applications
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Nandini Singh Sawlani
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube