Margarine Market Analysis Europe, North America, APAC, South America, Middle East and Africa - US, China, UK, Germany, France - Size and Forecast 2024-2028

Margarine Market 2024-2028

The Margarine Market size is projected to increase by USD 8.50 billion and the market size is estimated to grow at a CAGR of 5.03% between 2023 and 2028.

The report includes a comprehensive outlook on the margarine market, offering forecasts for the industry segmented by Distribution Channel, which comprises offline and online. Additionally, it categorizes Product into regular and low-fat, and covers Geography regions, including Europe, North America, APAC, South America, and Middle East and Africa. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.

Increasing health consciousness among people is the key factor driving market growth. Consumers are becoming more conscious of the health risks associated with unhealthy eating habits. As a result, they are looking for healthier food options. Since margarine is a popular alternative to butter, it has seen a significant change in consumer preferences. In addition, with the increasing prevalence of chronic diseases like obesity, diabetes, and heart conditions, people are looking for ways to control their food intake to improve their overall health and well-being. As a result, due to this rising health consciousness, many market players are launching plant-based organic dairy products. Thus, such factors will drive the growth of the global margarine market during the forecast period.

Margarine Market: Overview

The Margarine Market shows an Accelerated CAGR during the forecast period.

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Trends

 Increasing demand for sustainable foods is the primary trend shaping market growth. The global margarine market is experiencing a surge in demand as consumers become increasingly conscious of the environmental and social implications of food production practices. As a result, they are increasingly looking for products that are traceable and transparent in the sources of the ingredients used in the production of margarine.

Moreover, such products include palm oil derived from certified plantations, as well as alternative oils such as shea butter and sunflower oil. Hence, such factors will thereby boost the growth of the global margarine market during the forecast period.

Challenge 

Shifting consumer preferences from dairy products is a challenge that affects market growth. Margarine has long been used as a substitute for butter due to its low cost and its perceived health benefits. However, the global margarine market has been affected by the shift of consumers towards natural, organic, and plant-based products. As a result, margarine sales have decreased significantly worldwide. In addition, the global margarine market has been affected by a number of factors, with one of the most significant being the rise in the demand for vegan and dairy-free products.

As a result, margarine, which typically contains dairy ingredients, has seen a decrease in demand as more people adopt a vegan or plant-based lifestyle or opt to avoid dairy products due to health or ethical reasons. This has led to an increase in the number of consumers seeking alternative spreads made from nut, seed, or oil sources, including almond butter, olive oil, and avocado spread. Thus, such factors may impede the growth of the global margarine market during the forecast period.

Margarine Market Segmentation by Product

Regular margarine is broadly spread and often used as a replacement for butter. Regular margarine is usually made from vegetable oils. Regular margarine is a popular choice among consumers due to its cost-effectiveness. It is typically less expensive than butter and offers a comparable taste and texture. This makes regular margarine an ideal substitute for a variety of culinary applications, such as spread on bread, in cooking, and in baking. This makes various market players of margarine increase the sale of new regular margarine to meet the high demand. Thus, such factors under the regular margarine segment are expected to increase the demand for regular margarine and thereby expand the growth of the global margarine market during the forecast period.

Margarine Market Segmentation by Distribution Channel

The market share growth by the offline segment will be significant during the forecast period. Margarine products are typically sold and distributed through offline distribution channels. Offline channel contains supermarkets, hypermarkets, and convenience stores, as well as local grocery stores. These offline channels have been widely used and accepted by consumers for many years, allowing for convenient access to a broad selection of products, such as margarine.

The offline segment was valued at USD 18.96 billion in 2018.

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Supermarket and hypermarket chains have a significant presence around the globe and are the go-to choice for consumers seeking a vast shopping experience. Retail giants provide a wide selection of margarine products, allowing customers to compare price points, read labels, and make informed decisions. Consumers often view supermarkets as a dependable platform for margarine purchases due to the abundance of products and competitive prices. Thus, such factors will drive the growth of the global margarine market through the offline segment during the forecast period.

Key Regions for the Margarine Market 

Europe is estimated to contribute 32% to the growth of the global market during the forecast period

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Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe holds a leading position in the global margarine market due to its significant consumption as a substitute for butter across various applications such as baking, roasting, and toasting. One of the driving factors in the regional margarine market is the new changes in culinary and health consumption habits. Margarine holds a cherished place in European cuisine, being used in a wide array of dishes, from baked goods to savory recipes.

Moreover, margarine rich flavor and creamy texture contribute to the distinctive taste of many traditional and modern recipes. In addition, the margarine market in Europe is characterized by a dynamic landscape influenced by a combination of consumer preferences, health consciousness, culinary traditions, and industry dynamics. Thus, such factors are expected to drive the growth of the margarine market in Europe during the forecast period.

Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

• Key Offering-  ADEKA Corp.: The company offers margarine such as ADEKA spread margarine through its subsidiary Adeka Foods.
• Key Offering- Bunge Ltd.: The company offers margarine such as Bunge NGMO margarine and Bunge Palm margarine.
• Key Offering- Conagra Brands Inc.: The company offers margarine namely Fleischmann Margarine unsalted stick.

The margarine market report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:

• Fuji Oil Holdings Inc.
• Kaneka Corp.
• Land O Lakes Inc.
• Marinfood Co. Ltd.
• NMGK Group
• Richardson International Ltd.
• s.a. Aigremont n.v.
• Sime Darby Plantation Berhad
• Upfield BV
• Vandemoortele NV
• Wilmar International Ltd.
• Gagar Foods Pvt. Ltd.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Segment Overview

The margarine market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• Distribution Channel Outlook
  • Offline
  • Online

• Product Outlook
  • Regular
  • Low-fat

• Region Outlook
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Brazil 
    • Argentina
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

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What are the Key Data Covered in this Margarine Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the market between 2024 and 2028
• Precise estimation of the margarine market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of margarine market companies

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