Industry

Industrial Margarine Market 2024 | Size, Share, Trends, Growth Drivers, Forecast to 2033

Overview and Scope

Industrial margarine is a mixture of vegetable oil products with water and is free of artificial pigment and flavor, rancidity, mineral oil, and animal fats. They are used as an alternative to butter in numerous dishes to enhance their taste.

Sizing and Forecast

The industrial margarine market size has grown strongly in recent years. It will grow from $2.66 billion in 2023 to $2.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to post-world war ii economic recovery, food rationing and shortages, changing dietary preferences, globalization of food markets, cost competitiveness in food processing.

The industrial margarine market size is expected to see steady growth in the next few years. It will grow to $3.36 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to sustainable sourcing and production, health and wellness trends, plant-based and vegan trends, clean label and natural ingredients, e-commerce and direct-to-consumer models. Major trends in the forecast period include retail expansion and packaging innovations, technological advancements in production, smart manufacturing and industry 4.0 adoption, collaborations and partnerships in the value chain, packaging innovations for sustainability.

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Segmentation & Regional Insights

The industrial margarine market covered in this report is segmented –

1) By Product: Spreadable, All-Purpose, Butter Blend, Liquid, Other Products
2) By Source: Animal Source, Plant Source
3) By Form: Hard, Soft
4) By Application: Bakery, Confectionery, Toppings, Sauces, and Spreads, Convenience Food, Other Applications

North America was the largest region in the industrial margarine market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial margarine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The high growth of the food industry is expected to propel the growth of the industrial margarine market going forward. The food industry includes the manufacturing and distribution of food products. Industrial margarine is an emulsifier that provides organoleptic qualities to food items, such as a rich flavor and smooth texture. For instance, in 2023, according to the Food and Drink Federation, a UK-based organization representing and advising UK food and drink manufacturers, Scotland registered 1,185 companies that manufacture food and beverages. Further, Scottish exports of food and beverages rose by 31% in 2022 to $10.18 billion (£8.1 billion). Additionally, the same year, food and beverages turnover accounts for $12.5 billion (£10.3 billion), 33% of total Scottish manufacturing. Therefore, the high growth of the food industry drives the industrial margarine market.

Key Industry Players

Major companies operating in the industrial margarine market report are Cargill Incorporated, The Archer-Daniels-Midland Company, Wilmar International Ltd., Bunge Limited, Unilever, Royal FrieslandCampina N.V., Conagra Brands Inc., Kerry Group, Barry Callebaut, Orkla ASA, AAK AB, Fuji Oil Co. Ltd., Puratos, Vandemoortele, Richardson International Limited, Remia C.V, Currimjee Group, MUEZ-HEST INDIA PVT.LTD., S.A. Aigremont N.V, NMGK Group, LASENOR EMUL S.L., EFKO Group, Silverson, Royale Lacroix SA, PT. BONANZA MEGAH .LTD.

The industrial margarine market report table of contents includes:

1. Executive Summary

2. Industrial Margarine Market Characteristics

3. Industrial Margarine Market Trends And Strategies

4. Industrial Margarine Market – Macro Economic Scenario

5. Global Industrial Margarine Market Size and Growth

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32. Global Industrial Margarine Market Competitive Benchmarking

33. Global Industrial Margarine Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Industrial Margarine Market

35. Industrial Margarine Market Future Outlook and Potential Analysis

36. Appendix