USD 2.54 billion
Report ID:
SQMIG30H2037 |
Region:
Global |
Published Date: July, 2001
Pages:
157
|Tables:
118
|Figures:
77
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
Largest Segment
Plant
Fastest Growth
Plant
Growth Rate
3.5% CAGR
To get more reports on the above market click here to Buy The Report
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 2023. 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
Based on source, the global industrial margarine market is segmented into plant and animal-based margarine. In 2023, the plant-based segment is expected to account for the largest share of the global industrial margarine market. The large market share of this segment is attributed to the growing vegan population, growing lactose intolerance population, and people moving towards plant-based foods. Plant-based industrial margarine is designed to provide similar functionality and characteristics as traditional industrial margarine while being free from animal-derived fats or other animal-based ingredients. Manufacturers of plant-based industrial margarine may offer custom formulations tailored to specific bakery requirements. These formulations can be designed to meet certain dietary preferences, allergen considerations, or desired characteristics for particular bakery products.
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.
To get detailed analysis on other segments, Request For Free Sample Report
North America held the largest Global Industrial Margarine Market share in 2023. 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.
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Industrial Margarine Market Driver
Rising Need for Low Fat Butter Alternatives is Driving Demand for Industrial Margarine
Industrial Margarine Market Restraint
Stringent Regulations for Consumption of Trans-Fat to Hinder Market Growth
Request Free Customization of this report to help us to meet your business objectives.
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
Associated British Foods PLC (US)
Bunge Ltd. (US)
EFKO Group (Russia)
Fuji Oil Co., Ltd. (Japan)
NMGK Group (Russia)
Puratos Group NV (Belgium)
Richardson International Ltd. (Italy)
Royale Lacroix SA. (Belgium)
Vandemoortele NV (Belgium)
Wilmar International Ltd. (Singapore)
Grupo Lala (Mexico)
Aigremont n.v. (Belgium)
Unilever (UK)
China Mengniu Dairy Company Limited (China)
PT. Bonanza Megah Ltd (Indonesia)
Conagra Brands Inc. (US)
BRF SA (Brazil)
Upfield BV (Netherlands)
Currimjee Group (Mauritius)
MUEZ-HEST India Pvt. Ltd. (India)
Industrial Margarine Market Recent Developments
In February 2023, Bunge announced increased monitoring of soybeans from its indirect supply chain in Brazil.
In September 2022, Nigerians were advised by the Federal Ministry of Health to cease using margarine because of its high trans-fat content. Dr. Salma Anas Ibrahim, director of family health at the Federal Ministry of Health, attributed the rise in heart disease to the nation's consumption of unhealthy fats.
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.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 2.67 Billion |
Market size value in 2031 | USD 4.18 Billion |
Growth Rate | 5.1% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
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) |
Companies covered | 's Company Profiles
|
Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the 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 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Industrial Margarine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Industrial Margarine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONIndustrial Margarine Market size was valued at USD 2.54 billion in 2019 and is poised to grow from USD 2.64 billion in 2023 to USD 3.93 billion by 2031, growing at a CAGR of 3.5% in the forecast period (2024-2031).
Industrial Margarine Market is slightly fragmented with major 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. 'Bunge Ltd.', 'Richardson International Ltd.', 'Cargill Inc.', 'Wilmar International Ltd.', 'Conagra Brands Inc.', 'Fuji Oil Holdings Inc.', 'NMGK Group', 'Puratos Group', 'Vandemoortele NV', 'Associated British Foods plc', 'Archer Daniels Midland Company', 'Kerry Group plc', 'AAK AB', 'IFFCO Group', 'BRF S.A.', 'Zydus Wellness Ltd.', 'Felda IFFCO LLC', 'Aigremont SAS', 'EFKO Group', 'Fiorini International S.p.A.'
industrial margarine market is expanding as a result of key elements including reduced margarine pricing and a lower fat content than butter. The demand for the sector is also anticipated to be driven by the fast expansion of the bakery and confectionery markets in developing nations like China and India. Due to its organoleptic qualities, margarine has seen an increase in demand as a result of the shift in emphasis toward quickly and conveniently prepared food, busy lives, and increasing westernisation of culinary dishes. Because of the increasing demand for confectionery and bakery goods, the product is widely employed in the food and beverage sector.
Industries are developing different butter substitutes to cater to consumer needs. One of these includes shea-based margarine. The shea-based margarine is made utilising a crystallisation technique that yields outstanding plasticity and workability on manufacturing lines, improving the height and flakiness of the dough. It is free of preservatives and artificial colours. While customers want non-hydrogenated, sustainable alternatives to palm and GMO oils as well as healthier goods, bakeries and baking enterprises are looking for plant-based margarine substitutes with superior functionality and flavour. Shea is an excellent choice for margarine manufacture since its fat content allows it to keep constant firmness at room temperature without forming undesirable trans fats. In comparison to butter, the new shea margarine has less saturated fat and is entirely devoid of trans fat. Better mouthfeel and a speedier flavour release result from these enhanced sensory qualities, while awarding a more durable crispiness.
North America held the largest 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.
Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.
Report ID: SQMIG30H2037