Global Margarine Market By Product (Hard, Soft and Liquid) By Application (Commercial and Household) The report also covers geographical segmentation of Margarine market) By Region, Industry Analysis and Forecast, 2020 - 2026
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Market Report Description
The Global Margarine Market size is expected to reach $4.3 billion by 2026, rising at a market growth of 4.5% CAGR during the forecast period. Margarine is an important ingredient for confectionery products. Over the years, it has been an integral component of the household and everyday diet. Margarine, a non-dairy food, is sometimes substituted for butter as a cheaper option if the expense is to be retained. Butter, on the other hand, is a dairy food that is used to make that bake a variety of foods.
Global Margarine Market Size
Scaling up end-user awareness of chronic disorders along with a thriving food baking industry will boost market growth over the forecast period. In addition, the booming market for low-fat diet as a result of changing consumption patterns and lifestyles will stimulate the expansion of the industrial margarine business over the forecast period. Evidently, an increase in health awareness that leads to more demand for food with fewer calories is likely to graph a profitable road map for the industrial margarine market in the coming years.
In addition, manufacturers are trying to expand their product portfolio by investing heavily in research and development activities, thereby providing products with new features at reduced costs. It, in effect, would fuel demand development in the forecast period. Hectic lives and a rise in the working population have resulted in a humorous demand for processed goods, which has contributed to an expansion of the industry over time.
Margarine Market Share
Margarine has evolved significantly since it was first made as a butter replacement. This is now a high-tech commodity with several variants and combinations. There are 10 different types of margarine produced today. There are standard, whipped, and polyunsaturated kinds of margarine in both stick and soft forms. There are vegan margarines, edible margarines, and fresh 60% vegetable oil spreads. These margarines are produced from a number of oils, including soy, cottonseed, palm, corn, safflower, and sunflower oils. These custom-made products address the needs of several specific groups of the population.
Based on Product, the market is segmented into Hard, Soft and Liquid. Based on Application, the market is segmented into Commercial and Household. Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Free Valuable Insights: Global Margarine Market to reach a market size of $4.3 billion by 2026
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Bunge Limited, Wilmar International Limited, BRF S.A., Land O'Lakes, Inc., Conagra Brands, Inc.,Associated British Foods PLC (Wittington Investments Limited), Upfield Holdings B.V. (KKR & Co., Inc.), NMGK Group, Richardson International Limited (James Richardson & Sons, Limited), and Yildiz Holding A.S.
Recent Strategies Deployed in Margarine Market
- Mar-2020: Wilmar International announced that it is opening a new crude vegetable oil refining facility in South Africa. The facility would be used to produce cooking oil, mayonnaise and margarine..
- Dec-2019: Upfield Ghana introduced 10Kg Catering Margarine, the newest addition to the Blue Band Portfolio. This Margarine has been specially formulated with a rich buttery flavor and great taste that provides the required texture and flavor to baked foods.
- Dec-2019: Bunge Loders Croklaan (BLC) launched the new 100% sustainable, non-hydrogenated, shea-based margarine. The margarine has no added coloring or preservatives, and provides high functionality and baking performance and also allowed for better total nutritional value.
- Aug-2019: Upfield came into partnership with DKSH Business Unit Consumer Goods, Asia’s leading Services provider for Fast Moving Consumer Goods companies. Following the partnership, the latter company aimed to support Upfield in increasing sales for iconic margarine and spreads brands in several Asian markets.
- Jun-2019: Associated British Foods signed an agreement with Yihai Kerry Arawana Holdings Co., Ltd, a subsidiary of Wilmar International Limited. Following the agreement, the companies were aimed to establish a 50-50 joint venture in China for manufacturing, selling, and distributing yeast and bakery ingredients.
- Oct-2018: Bunge Loders Croklaan (BLC) introduced Delica Pro Gold, a next-generation plant-based and clean-label liquid margarine for the artisanal and industrial bakery industries. Delica Pro Gold is a liquid, non-hydrogenated margarine that contains no E-numbers or artificial colors and flavors.
- Jan-2018: Bunge Limited acquired 70% ownership interest in IOI Loders Croklaan from IOI Corporation Berhad. The acquisition enabled Bunge to become a global leader in business-to-business oil solutions with expanded value-added capabilities, reach, and scale across core geographies.
- Mar-2017: Bunge signed a definitive agreement to acquire Westfälische Lebensmittelwerke Lindemann GmbH & Co. KG, a German supplier of oils and fats. The acquisition would broaden the company's balanced B2B oil and fat business by expanding its portfolio and capabilities to the bakery segment.
- Nov-2016: BRF announced that it is launching a multigrain margarine product under its Qualy brand. Qualy Multigrain Margarine has benefits of six whole grains namely flax, oat, chia, quinoa, sunflower, and sesame – and is available in 250g tubs with an RRP of 4.70 BRL ($1.37).
Scope of the Margarine Market Analysis
- Commercial and
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
- Bunge Limited
- Wilmar International Limited
- BRF S.A.
- Land O'Lakes, Inc.
- Conagra Brands, Inc.
- Associated British Foods PLC (Wittington Investments Limited)
- Upfield Holdings B.V. (KKR & Co., Inc.)
- NMGK Group
- Richardson International Limited (James Richardson & Sons, Limited)
- Yildiz Holding A.S.
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Margarine Market Related Reports:
What would be the value of the global margarine market by 2026?
The margarine market size is projected to reach USD 4.3 billion by 2026.
Who are the leading players in the margarine market?
Bunge Limited, Wilmar International Limited, BRF S.A., Land O'Lakes, Inc., Conagra Brands, Inc.,Associated British Foods PLC (Wittington Investments Limited), Upfield Holdings B.V. (KKR & Co., Inc.), NMGK Group, Richardson International Limited (James Richardson & Sons, Limited), and Yildiz Holding A.S.
At what CAGR is the margarine market estimate to grow in the forecast period?
The expected CAGR of the margarine market is 4.5% from 2020 to 2026.
Which segment dominated the margarine market in 2019?
The commercial application segment dominated the margarine market.
Which region dominated the margarine market in 2019?
The North America dominated the industry due to the existence of a broad customer base.