Rising demand towards low-calorie food items is projected to escalate the industrial margarine market at a CAGR of 3.4%
Latest market study on "Global Industrial Margarine Market to 2027 - Analysis and Forecasts by Application (Bakery, Spreads Sauces and Toppings, Confectionery, Convenience Food, Others); Type (Spreadable Margarine, All-Purpose Industrial Margarine, Butter Blend); Source (Animal Source, Plant Source); Form (Hard Industrial Margarine, Soft Industrial Margarine), and Geography", The global industrial margarine market is accounted to US$ 2,480.0 Mn in 2018 and is expected to grow at a CAGR of 3.4% during the forecast period 2019 - 2027, to account to US$ 3,330.4 Mn by 2027. The report include key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments.
On the basis of application, the industrial margarine market is categorized into the bakery, spreads sauces and toppings, confectionery, convenience food, and others. In 2018, the bakery segment leads the global industrial margarine market. In recent times, margarine has been recognized by health professionals as a healthy table spread and a cheap alternative to butter used in cooking and baking food. Industrial margarine is also used in the bakery industry to produce a wide range of confectioneries such as puff pastries, cakes, croissants, Danish pastries, etc. It is also used in the preparation of confectionaries as they improve the rheological properties of dough, such as extensibility and elasticity. It is favored over other vegetable oils and fats in baking confectioneries as it provides stable emulsion and plastic dough mass.
The consumers in most of the developed and developing countries in North America, Europe, and Asia-Pacific such as the United States, Canada, Germany, France, China and India, among others are quite concern regarding maintenance of healthy life style and healthy diet or food habits. There is a growing demand for low fat food & beverages owing to changing lifestyles and rising health consciousness, which in turn is driving the industrial margarine market growth. The rising demand for bakery and confectionary products among the consumers globally is expected to fuel the market growth for industrial margarine market. Products like cakes and pastries are all the time popular confectionaries for most of the consumers, but people try to avoid these items due to its high fat and calorie content. To fulfil the consumer’s demand of with low fat, low cholesterol and less calorie bakery and confectionary, manufacturers are using industrial margarine instead of butter as an alternative. Some of the industry players including Vandemoortele, Unilever Plc, Richardson International Limited, and Conagra Brands, Inc. are offering low calorie industrial margarine. Manufacturers of bakery products are targeting consumers with the inclusion of low-calorie ingredients in their product portfolios to boost sales in a stagnant and matured market , which in turn influencing the market for industrial margarine.
The market for global industrial margarine is concentrated with some very well-established players. Some of the key players in the global industrial margarine market are Associated British Foods, Bunge Limited, Conagra Foodservice, Inc., EFKO Group, Fuji Oil Europe, NMGK Group, Puratos, Richardson International Limited, Vandemoortele, and Wilmar International Limited among others.
Global Industrial Margarine Market - By Region Breakdown, 2018
