The Business Research Company’s Industrial Margarine Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Industrial Margarine Global Market Report 2023 evaluates industrial margarine market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global industrial margarine market is expected to grow from $2.52 billion in 2022 to $2.66 billion in 2023 at a compound annual growth rate (CAGR) of 5.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial margarine market is expected to reach $3.19 billion in 2027 at a CAGR of 4.7%.
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 & 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.
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The industrial margarine market segments in the report are:
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
The table of contents in TBRC’s industrial margarine market report includes:
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