Future Trends, Drivers & Opportunity: Rising Demand Towards Low-Calorie Food Items, Wide Application Of Industrial Margarine In Bakery, Food Service And Food Processing Industries, Introduction of New Flavours & Products And Product Promotion Through E-Commerce
The global industrial margarine market accounted for US$ 2480.0 Mn in 2018 and is expected to grow at a CAGR of 3.4% during the forecast period 2019 – 2027, to account for US$ 3330.4 Mn by 2027. In modern times industrial margarine has played a crucial role in human nutrition. According to the World Health Organization recommendations, adults should derive 20% to 35% of their daily energy (calories) intake from fats. Industrial margarine is a great source of fats. Unlike butter, it is rich in good cholesterols such as HDL and has less amount of bad cholesterols such as LDL. It is also a great source of minerals such as calcium, potassium, and sodium. It is fortified with essential Vitamins such as Vitamin A, and Vitamin D. Industrial margarine is also a chief source of the vital polyunsaturated fatty acids of the omega-6 and omega-3 families. Omega-3 fatty acid plays an important role in promoting bone health, low cancer risks, reduce inflammation, and improve immunity. The health benefits associated with industrial margarine is expected to propel the industrial margarine market during the forecast period.
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Based on the source, the industrial margarine market has been segmented into plant source and animal source. The plant source industrial margarine segment dominated the industrial margarine market in 2018. Industrial margarine is a butter substitute made typically by combining water and vegetable oils, such as corn, soybean, canola, palm, or olive oils. Ingredients like colorings, salt, and natural or artificial flavorings are sometimes added. The growing awareness about the benefits of vegetarian and vegan diets has led to an upsurge in demand for industrial margarine derived from plant sources. The shifting preference for plant-based diets in the recent years has been a contributing factor for the expansion of the industrial margarine market all over the globe.
North America holds the largest share of the global industrial margarine market and is forecast to maintain its dominance over the forecast period. The growth of the industrial margarine market in this region is primarily attributed to the presence of a large consumer base and high awareness about the health benefits of the industrial margarine products in the United States and Canada. In the North America region, the US is a major consumer of industrial margarine. Industrial margarine is used as a functional and less expensive butter replacement that provides both richness and stability to finished baked goods without jeopardizing flavor.
The rise in the number of margarine products launched by margarine manufacturers such as low-fat or fat-free spreads and fortified margarine with milk containing vitamin D to cater to the taste of local markets is anticipated to act as catalysts for the growth in demand of the industrial margarine in North America region. Major market players present in the North America industrial margarine market, includes Associated British Foods, Bunge Limited, and Conagra Foodservice, Inc., among others. These players are constantly working towards the innovations in new product developments of industrial margarine with improved characteristics and high qualities.
Some of the players present in the global industrial margarine market are Bunge Limited, Associated British Foods Plc, Conagra Brands, Inc., EFKO Group, Fuji Oil Europe, NMGK Group, Puratos, Richardson International Limited, Vandemoortele, and Wilmar International Ltd., among others.
The overall global industrial margarine market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the industrial margarine market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the industrial margarine market.
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This post was originally published on Food and Beverage Herald