Industrial Margarine Market - Forecast 2021 - 2026
Industrial Margarine Market Overview:
Industrial Margarine is used for industrial baking, flavoring, and other cooking purposes. The industrial margarine market size is estimated to be 2.34 billion in 2018. It is expected to grow at a CAGR of 3.7% during the forecast period from 2019 to 2025. This growth can be attributed to the lower price compared to butter and growing usage of margarine in industrial applications. The changing health perceptions of consumers is also contributing the switch from butter to margarine.
Key Takeaways:
Rising health awareness and health conscious food consumption is driving the industrial margarine marketHealth awareness is high among consumers and they are consuming food that is healthy. This health conscious food consumption is also contributing to the growth of industrial margarine market.
Industrial margarine is finding main application in bakery products as consumers want low fat and low calorie alternatives to butter.
Margarine is commonly used as a substitute commonly used is for butter. But As the use of butter is slowly declining, and margarine is only being increasingly used especially for industrial applications.
Application - Segment Analysis
The Industrial Margarine industry is classified according to applications as Bakery, Confectionery, Convenience foods, and others. Bakery application is the having highest growth with CAGR of 3.4%. This is owing to the wide usage of margarine in bakery products. They are preferred for their low cost, and lower saturated fat.
Source - Segment Analysis
Industrial margarine maybe derived from animal and plant sources. Common animal source margarine is oleomargarine which is derived from beef fat. Plant sources include margarine derived from vegetable oils.
Geography - Segment Analysis
North America is the largest market occupying 36.5% of the industrial margarine market share during the period under study. Presence of large scale industrial margarine companies here is responsible for this market share. Also, increased consumption of processed food is also rising demand of margarine here.
Drivers – Industrial Margarine Market:
• Increasing Demand for Butter Alternative
An increase in the use of margarine as a substitute for butter in baking and cooking has been observed lately. Margarine being cholesterol free helps to control cholesterol. Liquid margarine is more affordable and is free from trans-fat free and has substituted butter in baking.
Industrial Margarine Industry Outlook:
Rise in product innovations and growing food service industry is contributing to the growth of Industrial Margarine market. The industrial Margarine top 10 companies are Congara, Associated British Foods, Fuij Oil, Richardson International, Royale Lacroix, Aigremont, Vandemoortele, NMGK Group, EFCO Group, and Wilmar International.
Industrial Margarine Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Industrial Margarine market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types, sources, forms and applications of products.
Industrial Margarine is used for industrial baking, flavoring, and other cooking purposes. The industrial margarine market size is estimated to be 2.34 billion in 2018. It is expected to grow at a CAGR of 3.7% during the forecast period from 2019 to 2025. This growth can be attributed to the lower price compared to butter and growing usage of margarine in industrial applications. The changing health perceptions of consumers is also contributing the switch from butter to margarine.
Key Takeaways:
Rising health awareness and health conscious food consumption is driving the industrial margarine marketHealth awareness is high among consumers and they are consuming food that is healthy. This health conscious food consumption is also contributing to the growth of industrial margarine market.
Industrial margarine is finding main application in bakery products as consumers want low fat and low calorie alternatives to butter.
Margarine is commonly used as a substitute commonly used is for butter. But As the use of butter is slowly declining, and margarine is only being increasingly used especially for industrial applications.
Application - Segment Analysis
The Industrial Margarine industry is classified according to applications as Bakery, Confectionery, Convenience foods, and others. Bakery application is the having highest growth with CAGR of 3.4%. This is owing to the wide usage of margarine in bakery products. They are preferred for their low cost, and lower saturated fat.
Source - Segment Analysis
Industrial margarine maybe derived from animal and plant sources. Common animal source margarine is oleomargarine which is derived from beef fat. Plant sources include margarine derived from vegetable oils.
Geography - Segment Analysis
North America is the largest market occupying 36.5% of the industrial margarine market share during the period under study. Presence of large scale industrial margarine companies here is responsible for this market share. Also, increased consumption of processed food is also rising demand of margarine here.
Drivers – Industrial Margarine Market:
• Increasing Demand for Butter Alternative
An increase in the use of margarine as a substitute for butter in baking and cooking has been observed lately. Margarine being cholesterol free helps to control cholesterol. Liquid margarine is more affordable and is free from trans-fat free and has substituted butter in baking.
• Changing eating habits
A rise in the number of health disorders is also contributing to the growth in demand for industrial margarine. Change in living standards and eating habits are increasing demand for ready to eat food and snacks. A major ingredient in these products is margarine which again contributes to its demand.
• Lower price of margarine
The lower price and fat content in margarine has increased its demand compared to butter and other spreads. Industrial application requires large amounts of butter. Hence margarine is a less expensive substitute for butter.
Challenges – Industrial Margarine Market:
• Rising health concerns and substitutes replacing margarine
Margarine was previously considered as a healthy alternative for butter. However many people are allergic to margarine made from sources like soya and canola oil. They also contain trans-fats which tend to increase the risk of heart diseases. Thus alternative products like lard, cream cheese, olive oil and others are substituting use of margarine.
• Government regulations
Government regulations on the manufacture and marketing of such products is a major restraining factor for margarine market. Presence of trans-fats in margarine are prompting governments to impose restrictions that reduce its manufacture and hence consumption.
A rise in the number of health disorders is also contributing to the growth in demand for industrial margarine. Change in living standards and eating habits are increasing demand for ready to eat food and snacks. A major ingredient in these products is margarine which again contributes to its demand.
• Lower price of margarine
The lower price and fat content in margarine has increased its demand compared to butter and other spreads. Industrial application requires large amounts of butter. Hence margarine is a less expensive substitute for butter.
Challenges – Industrial Margarine Market:
• Rising health concerns and substitutes replacing margarine
Margarine was previously considered as a healthy alternative for butter. However many people are allergic to margarine made from sources like soya and canola oil. They also contain trans-fats which tend to increase the risk of heart diseases. Thus alternative products like lard, cream cheese, olive oil and others are substituting use of margarine.
• Government regulations
Government regulations on the manufacture and marketing of such products is a major restraining factor for margarine market. Presence of trans-fats in margarine are prompting governments to impose restrictions that reduce its manufacture and hence consumption.
Industrial Margarine Industry Outlook:
Rise in product innovations and growing food service industry is contributing to the growth of Industrial Margarine market. The industrial Margarine top 10 companies are Congara, Associated British Foods, Fuij Oil, Richardson International, Royale Lacroix, Aigremont, Vandemoortele, NMGK Group, EFCO Group, and Wilmar International.
Industrial Margarine Market Research Scope:
The base year of the study is 2018, with forecast done up to 2025. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. These provide the key market participants with the necessary business intelligence and help them understand the future of the Industrial Margarine market. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types, sources, forms and applications of products.
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