Margarine Market Analysis, Trends and Forecast, 2027
The global Margarine Market size is expected to reach USD
4.32 billion by 2027, expanding at a CAGR of 2.2% over the forecast period,
according to a new report by Grand View Research, Inc. Increasing number of
health conscious consumers is expected to drive the demand for the product as
it contains low fat, low calorie, and low cholesterol. Furthermore,the
consumption pattern will shift towards healthier and heart-friendly
alternatives in the near future due to growing aging population.
Increasing application of the product in the bakery and
confectionary industry is a key factor fueling the market growth. Margarine has
gained significant popularity as an affordable, healthier, and sustainable
ingredient among numerous food manufacturers. As a result, in terms of
application, the commercial segment dominated the market in 2019.
In terms of product, hard margarine led the market with over
50% share of the total revenue in 2019. It is the most used form of the product
in the food industry. Rising acceptance of packaged cookies and biscuits has
widened the opportunity for hard margarine over the world. Liquid margarine is
expected to witness the fastest growth over the forecast period owing to its
lower fat content.
Key competitors in the industry include Unilever; Bunge
Limited; NMGK Group; Conagra Brands, Inc.; Wilmar International Ltd.; BRF;
Yildiz Holding; Cargill, Incorporated; Uni-President; Upfield; China Mengniu
Dairy Company Limited; and Namchow. Merger & acquisition and new product launch
are the key strategies adopted by the margarine manufacturers. For instance, in
July 2018, Kohlberg Kravis Roberts & Co. L.P. (KKR) completed its
acquisition of Unilever’s Spreads business. KKR acquired the business for USD
8.04 billion and it includes Unilever’s Country Crock, Becel, Flora, and Blue
Band brands. This acquisition helped to reshape and enhance the product
portfolio of the Spreads business.
Browse Details of Report @https://www.grandviewresearch.com/industry-analysis/margarine-market
Margarine Market Report Highlights
- In terms of
product, the hard segment dominated the market in 2019 with over 50% share
of the global revenue owing to extensive application scope of the product
in the bakery and confectionary industry
- The
household application segment is expected to expand at the fastest CAGR of
2.8% from 2020 to 2027. This growth is attributed to increasing importance
of healthy spreads during breakfast and dinner among the millennials
- Asia Pacific
is expected to exhibit the fastest CAGR of 3.2% from 2020 to 2027 owing to
growing demand for the product in countries, such as China and India
- Major
players in the margarine market include Unilever; Bunge Limited; NMGK
Group; Conagra Brands, Inc.; Wilmar International Ltd.; BRF; Yildiz
Holding; Cargill, Incorporated; Uni-President; and Upfield.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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Grand View Research, Inc
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