Industrial Margarine market annual growth rate is 3.5%
Industrial Margarine Market Size and Growth Rate:
According to the recent reports published by Research Cosmos, Industrial Margarine Market was valued at USD 2.25 billion in 2017 and projected to reach USD 2.66 billion by 2022 growing at a CAGR of 3.5% during the forecast period 2017 to 2022.
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Industrial Margarine Market Growth Drivers and Restraints:
The demand for margarine products as a substitute to natural butter is growing, more so due to the increasing use in the food industry. Margarine products are accepted fast in developing and developed countries all over the world. Presently, the growing margarine market is larger than the butter market, with 18 major margarine producers holding the largest share of the global market. Margarine is a tasty spread that is used as a replacement for butter and is a much cheaper alternative. The main ingredients of margarine include of vegetable oil and water.
The market has been divided into spreadable, all-purpose, and butter-blend with the all-purpose type dominating its counterparts. The soft form of margarine has been growing especially because of its growing applications across bakery products industry. The bakery industry dominates the application segment with cost efficiency being a major driver for this growth. The global industry margarine market is mainly driven by the changing lifestyles and dietary habits, due to a radical shift in the consumer preference towards natural products. Availability of other alternatives for margarine and health-related concerns of fat consumption may confine the growth of the otherwise consistently growing industry.
A growing use of margarine in the food industry and the outline of innovative margarine varieties into the market are anticipated to provide future growth opportunities. Huge competition exists in the global market due to two reasons – firstly, butter, natural fat, and other alternatives eating into the market share of margarine and secondly, high market attention.
Only 18 major companies hold most of the market share and therefore the market entry for new players is difficult because of barriers created by global leaders and the presence of alternatives in the same food category in the market. New product launches, innovative flavours, and mergers and acquisitions with local players have been robust business strategies for market growth. In contrast, however, increasing stringent regulation and international quality are some of the factors majorly hampering growth of the world industrial margarine market.
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Industrial Margarine Market – Geographical Overview:
Geographically, the market is divided into North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa. North America shaped the largest market for industrial margarine in 2017, with the Asia Pacific accounting for one of the fastest growing regions. Rising health conscious population along with a shift to improved food alternatives remain two major drivers that have boosted demand for overall industrial margarine market.
Some of the promising companies leading the Industrial Margarine Market are:
1. Conagra
2. Bunge
3. Puratos
4. Wilmar International
5. Associated British Foods
6. Fuji Oil
7. Vandemoortele
8. NMGK Group
9. EFKO Group
10. Royale Lacroix
11. Richardson International
12. Aigremont
Industrial Margarine Market Segmentation
By Type:
• Spreadable Margarine
• All-Purpose Industrial Margarine
• Butter Blend
By Application:
• Bakery
• Spreads, Sauces, and Toppings
• Confectionery
• Convenience Food
By Source:
• Animal Source
• Plant Source
By Form:
• Hard Industrial Margarine
• Soft Industrial Margarine
By Geographical Segmentation:
• North America
• Europe
• Latin America
• Middle-East & Africa
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