Margarine is being used as a functional and less expensive butter replacement that provides both richness and stability to finished baked goods without jeopardizing flavor.
Due the impact of health benefits of Margarine over Butter, the dairy Industry is investing more in Margarine products and its variants. More than 50% of the U.S population prefer Margarine over Butter says DataM research.
Market Dynamics:-
The lifestyle and dietary habits of consumers are changing. Consumers are becoming more aware of the intake of fats and calories. A shift is being observed in the consumers’ diet to-wards dairy-free and more natural products. So, consumers prefer margarine over butter because of its low-fat and calories.
The cost of dairy products, especially butter is high and is forecasted to increase further. The high price of butter will boost the market for margarine, which is a cheaper alternative to butter. The low price of margarine has resulted in its increased applications in the food processing industry that uses only butter. The use of margarine has significantly brought down the production costs in these industries, thus reducing the overall cost of end products.
Availability of other alternatives for margarine and health-related concerns of fat consumption may restrain the growth in the industry.
Market Segmentation:-
The Global Margarine Market report segments the market by type, by Form type, by product type, by application and by geography. By form type, the market has been segmented as Hard Margarines, Soft Margarines, and Roll-In Margarines. By Form type- Tubs, Sprays, Sticks, Liquid Margarines and others. Margarine tubs/cups are the most popular margarine products in this segment.
By Product type- Original, Light or Trans-fat free, Buttery, Dairy-free/Vegan, and others.
Confectionary, Spreads, Sauces & Dressings, and Others.
The Bakery & Confectionary segment accounts for the most extensive section in the application type segment. Bakery products such as cakes and pastries call for substitutes for butter and oil among consumers who demand low-fat and low-calorie food products. Manufacturers of bakery products are targeting consumers with low-calorie products to boost sales in a stagnant and matured market.
This is currently one of the key trends in the global bakery market, subsequently driving the growth of the Margarine Market.
Geographical Trends:-
Geographically, the market is divided into North America, Europe, South America, Asia-Pacific and theMiddle East & Africa.
North America dominates the global industrial margarine market geographically. The market is characterized by the presence of large-scale industrial margarine manufacturers such as Conagra (US) and Bunge Limited (US). The significant share of this market is mainly attributed to growing consumer inclination towards healthy food and convenience products and increasing health and obesity disorders.
Increased consumption of bread and butter for breakfast in Western Countries also supported the growth of the market in recent years. With the availability of margarine as a low-cost alternative raising the demand for low-fat products due to the growing health concerns, the need for margarine will increase in this region.
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