USD 2.54 billion
Report ID: SQMIG30H2037 | Region: Global | Published Date: December, 2022 | Pages: 157 | Tables: 118 | Figures: 77
Industrial Margarine Market size was valued at USD 2.54 billion in 2021 and is poised to grow from USD 2.64 billion in 2022 to USD 3.93 billion by 2030, growing at a CAGR of 3.5% in the forecast period (2023-2030).
Industrial margarine is a dairy product used to replace butter in recipes. Butter and commercial margarine are both used to enhance the flavour of a range of foods, yet they both have unique qualities. Butter is made of water, proteins, and butterfat, whereas commercial margarine is made of animal fat or refined vegetable oil. In the food processing sector, margarine serves as an emulsifier and provides organoleptic qualities to food items, such as a rich flavour and smooth texture.
Customers who choose low-calorie and low-fat food products are in need of alternatives to oil and butter for bakery items like pastries and cakes. In an established and stagnating industry, manufacturers of bakery and confectionery items are addressing customers by incorporating low-calorie products into their product portfolios. The aforementioned element is one of the main trends in the bread industry, and as a result, it helps the market for industrial margarine expand.
One of the key elements fueling the expansion of the global industrial margarine market is the rise in margarine consumption. Improvements in oil refining techniques and margarine compounding techniques have led to the manufacture of goods of exceptional quality that nearly resemble butter in flavour, consistency, and nutritional qualities, which has hastened the increase in the use of margarine.
US Industrial Margarine Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 2.54 billion
All-Purpose Industrial Margarine
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Global Industrial Margarine Market is segmented based on the type, application, form, source and region. Based on Type, the market is segmented into Spreadable Margarine, All-Purpose Industrial Margarine and Butter Blend. On the basis of application, Industrial Margarine Market is categorized into Bakery, Spreads Sauces and Toppings, Confectionery, Convenience Food and others. Based on the form, the Industrial Margarine Market is bifurcated into soft and hard. According to source, it is divided into plant source and animal source. Based on Region Industrial Margarine Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Industrial Margarine Market Analysis by Type
The All-Purpose segment held the highest global Industrial Margarine market share in 2021. This can be attributed to a number of advantages, including maintaining baked goods' form stability, strong resistance to oxidising, and preserving high organoleptic properties of the end product throughout the shelf life (low acid and peroxide values). Additionally, all-purpose margarine has excellent frying properties, a pleasing scent, high spreadability, releases flavours well, and gives cakes and creams more volume. The demand for all-purpose industrial margarine has increased as a result of these properties in several nations.
The Spreadable margarine segment is anticipated to grow at a high CAGR during the forecast period. The demand for industrial margarine is being driven by the fact that it spreads more easily than butter at room temperature. Due to its smoothness and creamy texture, it is occasionally used as an alternative to more expensive butter. Spreads made from margarine are a preferable substitute since they contain less cholesterol and trans fats.
Industrial Margarine Market Analysis by Source
Due to the rising popularity of vegetarianism, the plant category had the greatest revenue share in 2021. Organic and plant-based goods with a less environmental effect than meat-based items are becoming more and more popular with consumers. Additionally, this product is low in calories and fat, which might accelerate this market's revenue development due to rising health consciousness.
Over the course of the projected period, the animal segment is anticipated to experience significant revenue growth. The bread and confectionary sectors are increasingly using animal fat. These goods can be found readily, are inexpensive to produce, can be kept at room temperature, and have a long shelf life. Due to its heat resistance and ease of shaping, the food industry's growing need for frying and baking is anticipated to propel this segment's sales development.
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North America held the largest Global Industrial Margarine Market share in 2021. Due to the increased prevalence of ailments including high blood pressure, constipation, and diabetes that have been driving the market for industrial margarine, the market is primarily driven by health-conscious consumers. Margarine is a common ingredient used in the creation of many food items in this region by the food processing industry. The worldwide industrial market in North America is anticipated to be driven by the increase in margarine products being introduced by margarine makers, such as additive-free, fat-free, low-fat, and fortified margarine. As a result of the excessive use of dairy-based fats, diseases associated with busy lifestyles such as obesity, diabetes, cancer, hypertension, and others are on the rise. This has caused consumers to turn to healthier alternatives. Therefore, the food manufacturers in the aforementioned location are concentrating on creating margarine products without any trans-fat.
Asia Pacific is expected to register the highest growth rate during the forecast period. The expansion of industry and changes in the global food market have given the market in this region new opportunities. To appeal to consumers who are price conscious and spur market revenue development, some businesses in the Asia Pacific region provide small-packaged items. In order to reduce supply costs and improve efficiency, which might increase product demand, several international candy manufacturers have moved their operations to the area. Additionally, the region in question has significant consumption due to the existence of several end-user businesses for both industrial and retail margarine.
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Industrial Margarine Market Driver
Rising Need for Low Fat Butter Alternatives is Driving Demand for Industrial Margarine
Margarine also serves as an emulsifier in food applications and gives the finished product organoleptic qualities in addition to lengthening its shelf life. The bakery and confectionery industries now have a greater need for industrial margarine. Essentially, it is a mixture of around 80% vegetable oil, 20% brine solution, colour, taste, and preservatives.
Industrial Margarine Market Restraint
Stringent Regulations for Consumption of Trans-Fat to Hinder Market Growth
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Global Industrial Margarine Market is slightly fragmented with major global players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies such as innovations, mergers, and acquisitions, collaborations and partnerships. Key players in the market include BRF, ConAgra, Dairy Crest, Fu Ji Oil and Goodman Fielder. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Industrial Margarine Market Top Player's Company Profiles
Industrial Margarine Market Recent Developments
Rise of Shea Butter Substitute to Shape Market’s Future
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Industrial Margarine Market analysis, the growth of the bread and confectionery industries, rising margarine consumption, and reduced margarine prices are positively impacting industrial margarine worldwide. Additionally, the various market participants have a lot of chances due to the contemporary margarine's growing role in dietary fat consumption. The usage of butter has decreased, while the demand for vegetable fats like margarine has grown as a result of numerous causes including rising concerns about cholesterol and saturated fat intake, changing lifestyles, and an ageing population.
|Market size value in 2021||USD 2.54 billion|
|Market size value in 2030||USD 3.93 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Industrial Margarine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Industrial Margarine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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