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The global margarine market grew at a CAGR of 4% during 2015-2020. Looking forward, IMARC Group expects the market to continue its moderate growth during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end-use industries. These insights are included in the report as a major market contributor.
Margarine is a non-dairy alternative for butter having a similar appearance, consistency, taste, and nutritional value. It is produced by the amalgamation of various refined vegetable oils, including corn, palm, canola, soybean, etc. Margarine acts as a good source of essential fat-soluble nutrients that aid in maintaining lower blood cholesterol levels and reducing the risk of cardiovascular diseases. It is widely available in different forms such as sticks, cubes, tubs, liquid, spray, blocks, etc. Margarine is extensively used across bakeries, confectioneries, and household cooking.
The rising consumer health concerns towards the negative impact of saturated fats have led to an increasing shift from butter towards margarine. Additionally, the high prevalence of lactose-intolerance disorders coupled with the growing awareness towards the dairy-free content of margarine is further propelling the product demand. In line with this, the increasing adoption of vegan trends and changing consumer dietary habits are also driving the market for margarine. Moreover, the expanding bakery sector is further augmenting the utilization of margarine in preparing pastries, doughnuts, cookies, etc. Several small-scale and artisanal bakeries are shifting from butter towards margarine as an essential ingredient for adding volume, texture, and maintaining its neutral taste to enhance flavors in the baked goods. Apart from this, the growing consumer consciousness towards clean-label and sustainable products has led to the emergence of non-GMO, allergen-free, and naturally-sourced margarine. Several manufactures are introducing organic and low-calorie variants of margarine that are made up of healthier vegetable oils, such as olive oil, palm oil, corn oil, etc. This is further expected to drive the global market for margarine over the forecasted period.
IMARC Group provides an analysis of the key trends in each sub-segment of the global margarine market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, source, form, distribution channel and application.
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The competitive landscape of the industry has also been examined with some of the key players being Bunge Limited, Conagra Foodservice Inc., EFKO Group, NMGK Group, PURATOS, Richardson International Limited, Vandemoortele and Wilmar International Ltd.
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