Meticulous Research®, a leading global market research company, published a research report titled, ‘Industrial Margarine Market by Type (All Purpose Margarine, Spreadable, Butter Blend, Spray), Form (Hard and Soft), Source (Plants and Animals), Application (Bakery, Confectionery, Toppings, Sauces, and Spreads) - Global Forecast to 2030.'
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According to the latest analysis from Meticulous Research®, the global industrial margarine market is set to grow at a CAGR of 4.3% from 2023 to 2030, reaching a projected value of $3.54 billion by the end of the decade. This market growth is primarily attributed to the booming bakery industry, a rise in the number of people adopting vegan diets, and the availability of economical butter alternatives. However, the market may encounter challenges due to the increasing number of health-conscious consumers.
The industrial margarine market is segmented into various categories, including type (all-purpose, spreadable, butter blend, and spray margarine), form (hard and soft), source (plant-based and animal-based), application (bakery, confectionery, toppings, sauces, spreads, convenience foods, and more), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The report also analyzes market competitors and provides insights into regional and national market dynamics.
The all-purpose margarine segment is expected to take the lead in 2023, driven by its strong demand in the food service sector, the growing bakery industry, and its adoption among vegans due to lower saturated fat content compared to butter. The soft margarine segment is forecasted to witness the fastest growth, fueled by product innovations and increased consumer spending on healthier alternatives.
In the application category, the toppings, sauces, and spreads segment is projected to experience the quickest growth, driven by a shift in consumer preferences toward fast food products that incorporate these items. The Asia-Pacific region is anticipated to show the highest growth rate during the forecast period, spurred by rising demand for ready-to-eat foods, increased disposable incomes, and urbanization.
Prominent players in the industrial margarine market include Wilmar International Limited (Singapore), Bunge Limited (U.S.), Remia C.V. (Netherlands), Currimjee Group (Mauritius), Fuji Oil Holdings Inc. (Japan), and Richardson International Limited (copyright), among others.
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