Margarine Market Growth & Trends
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.
Request a free sample copy or view report summary: Margarine Market Report
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.
Margarine Market Segmentation
Grand View Research has segmented the global margarine market on the basis of product, application, and region:
Margarine Product Outlook (Revenue, USD Million, 2016 - 2027)
- Hard
- Soft
- Liquid
Margarine Application Outlook (Revenue, USD Million, 2016 - 2027)
- Commercial
- Household
Margarine Regional Outlook (Revenue, USD Million, 2016 - 2027)
- North America
- US.
- Europe
- Germany
- UK.
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
- UAE
About Grand View Research
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, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare
No comments:
Post a Comment