Industrial Margarine Market Analysis and Opportunities by 2027

[Research Report] The industrial margarine market was valued at US$ 2,480.0 million in 2018 and is projected to reach US$ 3,330.4 million by 2027; it is expected to grow at a CAGR of 3.4% from 2019 to 2027.

Industrial margarine is a dairy product that is used as a substitute for butter. While both industrial margarine and butter are used to improve the flavor of a variety of dishes, they have distinct characteristics. Water, proteins, and butterfat make up butter, while animal fat and/or processed vegetable oil make up industrial margarine.

The industrial margarine market in North America is expected to grow at the highest CAGR during the forecast period. The growth of the market in this region is mainly attributed to the rising prevalence of diseases such as diabetes, high blood pressure, and constipation, as consumers are becoming more health-conscious. Owing to this, food producers in the United States are focusing on manufacturing trans-fat-free margarine products. The rising demand for industrial margarine is fueled by the number of new modified margarine product launches by margarine manufacturers, such as low-fat or fat-free spreads and fortified margarine with vitamin D-fortified milk. The rising demand for industrial margarine in North America has attracted the manufacturers to establish their presence in the region, which has further fueled the growth of the industrial margarine market in Europe.  

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Industrial Margarine Market: Strategic Insights

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Impact of COVID-19 Pandemic on Industrial Margarine Market

The COVID-19 outbreak adversely affects economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Food and beverages are among the significant industries suffering from severe disruptions such as restrictions on the supply chain and shutdown of production plants. The global effects of the coronavirus disease 2019 (COVID-19) are already being felt, and the Block Margarine demand in 2020 will be significantly affected. COVID-19 has influenced consumer behavior and demand, buying habits, supply chain rerouting, market dynamics, and government interference. Thus, these factors are restraining the growth of the industrial margarine market in the food and beverage industry.

Market Insights

Increasing Demand For Low-Calorie Food Items Is Expected to Fuel Industrial margarine   Market Growth

The industrial margarine market is growing due to the increasing demand for low-fat foods and beverages as a result of evolving lifestyles and rising health consciousness. Young people are becoming more aware of the health benefits of eating a balanced diet, such as avoiding obesity and diabetes. Market growth should be aided by an increase in the number of low-calorie food items stocked by supermarkets, as well as major research and development efforts undertaken by manufacturers to broaden their product range and sell better products at low prices. Vandemoortele, Unilever Plc, Richardson International Limited, and Conagra Brands, Inc. are among the major manufacturers of industrial margarine that sell low-calorie industrial margarine to appeal to the health-conscious younger generation.

Type Insights

Based on type, the industrial margarine market is bifurcated into spreadable margarine, all-purpose industrial margarine, and butter blend. The spreadable industrial margarine segment accounted for a larger market share in 2018. When compared to butter, industrial margarine has better spreadability at room temperature. Because of its superior spreadability to butter, margarine has become a more popular and less costly table spread. Industrial margarine is still a common toast and bread spread. It is commonly used as a substitute for more costly butter due to its smoothness and creamy texture. Margarine spreads are often low in cholesterol and trans fats, making them a balanced alternative. The low LDL cholesterol in industrial margarine is likely to drive the market, as it is increasingly consumed by cholesterol-conscious consumers.

Thus, all are expected to propel the demand for the industrial margarine   during the forecast period.

Application Insights

Based on application, the industrial margarine market is segmented into bakery, spreads, sauces & toppings, confectionery, convenience food, and others. The bakery segment accounted for the largest market share in 2018. Croissant margarine, hard puff margarine, buttercream margarine, cake margarine, and puff pastry margarine are the most popular types of industrial margarine used in the baking industry. Margarine is used to produce wheat dough tender in a variety of baked goods. Bakers prefer margarine because of its soft texture, which makes it easy to whip up buttercream frosting or cream sugar for a sponge cake. Danish Pastries are made with margarine that is rolled in. Stick margarine, also known as a block or rough margarine, has a texture similar to butter and is thus used as a butter substitute in baking and cooking. During the forecast period, rising bakery joint consumption of industrial margarine is expected to fuel demand for the product.

A few players operating in the 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 many others. The key companies implement the mergers and acquisitions, and research and development strategies to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

Industrial Margarine Market Regional Insights

The regional trends and factors influencing the Industrial Margarine Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Industrial Margarine Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Industrial Margarine Market Report Scope

Industrial Margarine Market Players Density: Understanding Its Impact on Business Dynamics

The Industrial Margarine Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Industrial Margarine Market are:

1. Bunge Limited
2. Associated British Foods plc.
3. Conagra Brands, Inc.
4. EFKO Group
5. Fuji Oil Europe

Disclaimer: The companies listed above are not ranked in any particular order.

Report Spotlights 

• Progressive industry trends in the industrial margarine   market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the industrial margarine   market from 2019 to 2027
• Estimation of global demand for industrial margarine 
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Market trends and outlook as well as factors driving and restraining the growth of the industrial margarine   market
• Assistance in decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the industrial margarine market size at various nodes
• Detailed overview and segmentation of the market, as well as the industrial margarine   industry dynamics
• Size of the industrial margarine market in various regions with promising growth opportunities

Industrial margarine   Market- by Application

• Bakery
• Spreads Sauces and Toppings
• Confectionery
• Convenience Food
• Others

Industrial margarine   Market – by Type

• Spreadable Margarine
• All-Purpose Industrial Margarine
• Butter Blend

Industrial margarine   Market – by Source

• Animal Source
• Plant Source

Industrial margarine   Market – by Form  

• Hard Industrial Margarine
• Soft Industrial Margarine

Company Profiles

• Bunge Limited
• Associated British Foods plc.
• Conagra Brands, Inc.
• EFKO Group
• Fuji Oil Europe
• NMGK Group
• Puratos
• Richardson International Limited
• Vandemoortele
• Wilmar International Ltd.