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Industrial Margarine Market: Segmented: By Type (Spreadable, All Purpose, Butter Blend Margarine and Others), By Application (Confectionery, Sauces, Spreads & Toppings, Bakery, Convenience), And Region - Global Analysis Of Market Size, Share & Trends For 2019-2020 And Forecasts To 2031
[ 170 + Pages Research Report ] Industrial Margarine Market to surpass USD 3.5 billion by 2031 from USD 2.7 billion in 2021 at a CAGR of 3.68% in the coming years, i.e., 2021-31
Margarine is a non-dairy product produced from animal fat and vegetable. Industrial margarine is used as a substitute for butter used for toppings, baking, spreads, and other cooking purposes. Developing economies such as India and China, in the upcoming years, are predictable to experience strong growing demand for industrial margarine.
Global Industrial Margarine market is expected to project a notable CAGR of 3.68% in 2031.
Global Industrial Margarine to surpass USD 3.5 billion by 2031 from USD 2.7 billion in 2021 at a CAGR of 3.68% in the coming years, i.e., 2021-31. Components such as less prices of margarine along with lower fat content as compared to butter are driving the industrial margarine industry. Additionally, the rapid growth of the bakery and confectionery industries in rapidly developing economies is anticipated to boost the demand for industrial margarine.
All Purpose segment to grow with the highest CAGR during 2021-31
Based on Type, the global Industrial Margarine Market is segmented into Spreadable, All-Purpose, And Butter Blend Margarine. Among the type segments, the All-Purpose segment is predicted to hold the majority revenue share in the market and is expected to continue during the forecast years. All-Purpose segment accounted for the largest market share as it can be used for baking, frying, and spreading. It is extensively used in the bakery products industry.
Bakery segment to grow with the highest CAGR during 2021-31
Based on application, the global Industrial Margarine Market fragmented into Bakery, Spreads, sauces, and toppings, Confectionery, Convenience food, and Others (desserts & snacks). The bakery segment is expected to measure the highest share during the forecast year, followed by the confectionery industry. The growth in the bakery, confectionery, and convenience food sectors is boosting the demand for margarine as it is a cost-effective substitute for butter.
Rising preference of consumers
Demand for Industrial margarine is growing owing to the increasing preference of customers for natural products such as Industrial margarine. Decreasing the price difference between butter and Industrial margarine and the growing home-baking trend drive the demand for the market. There is an increasing trend of natural food consumption due to the change in consumer preference for processed foods.
Development of new applications
With the increasing focus on sustainability and favorable government rules for green procurement policies, biodegradable plastic manufacturers have important opportunities in the new end-use industries such as electronics, medical, and automotive. The manufacturers are investing heavily in R&D activities for the application of biodegradable plastics in various applications in the medical industry, such as stitching materials, screws, and implants. Biodegradable plastics such as PLA and bio-PBS are used for manufacturing medical devices & equipment.
Strict regulations
The agreement with international quality standards and strict regulations are expected to act as a restraint towards the development of industrial margarine market, whereas the growth in the health awareness and obesity concerns can hamper the growth of the industrial margarine market.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Industrial Margarine market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The maximum share in the market will be dominated by North America. This market is driven by health-conscious customers owing to the growing numbers of diseases such as diabetes, high blood pressure, and constipation that have been driving the market for margarine.
Global Industrial Margarine is further segmented by region into:
Industrial Margarine Segments:
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Report Attribute |
Details |
| Market size value in 2021 | USD 2.5 billion |
| Revenue forecast in 2031 | USD 3.7 billion |
| Growth Rate | CAGR of 3.68% from 2021 to 2031 |
| Base year for estimation | 2020 |
| Quantitative units | Revenue in USD million and CAGR from 2021 to 2030 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Application and Region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Key companies profiled | Bunge, Puratos, Wilmar International, Associated British Foods, Fuji Oil, Vandemoortele, NMGK Group, EFKO Group, Royale Lacroix, Richardson International and Other Prominent Players |
The Industrial Margarine Market size was estimated at USD 2.7 billion in 2020 and is expected to reach 3.5 billion by 2030.
Key players Bunge, Puratos, Wilmar International, Associated British Foods, Fuji Oil, Vandemoortele, NMGK Group, EFKO Group, Royale Lacroix, Richardson International and Other Prominent Players
All Purpose segment are anticipated to hold the largest Industrial Margarine Market
Drivers: Rising preference of consumers and Development of new applications
Margarine is a non-dairy product produced from animal fat and vegetable. Industrial margarine is used as a substitute for butter used for toppings, baking, spreads, and other cooking purposes. Developing economies such as India and China, in the upcoming years, are predictable to experience strong growing demand for industrial margarine.
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