Margarine Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Description

The margarine market is witnessing steady expansion, driven by evolving consumer preferences and increasing demand across various industries, particularly in the bakery and confectionery sectors. Valued at $20.25 billion in 2024, the market is projected to reach $25.6 billion by 2031, growing at a CAGR of 3.40%. As margarine remains a staple in food production, its expanding market reflects changing dietary habits and lifestyles. With growing consumption, the market is poised for significant advancements in the years ahead.

Bakery and Confectionery Industries Fuel Margarine Sales Surge

Margarine has long been a crucial component in the food sector, especially within the bakery and confectionery domains. Its adaptability, easy spreadability, and functional benefits make it a favored choice for bakers worldwide. Margarine's light texture and smoothness make it an ideal ingredient for products like buttercream, cakes, and pastries. Furthermore, its role in improving the flavor and texture of baked goods continues to drive its increasing demand.

Margarine is increasingly used as a butter alternative in large-scale baking, with specific applications such as cake margarine, croissant margarine, and puff pastry margarine gaining prominence. These variants ensure consistency and excellent sensory qualities in baked goods, essential for industrial baking operations, further boosting global demand for margarine.

Impact of Veganism on Market Dynamics

The rise in plant-based diets is profoundly influencing the margarine market. As a vegan-friendly substitute for traditional butter, margarine is becoming popular among health-conscious consumers and those following vegan lifestyles. With the growing popularity of veganism, particularly in regions like North America and Europe, producers are increasingly offering margarine options that cater to this segment.

Vegan margarine, derived from vegetable oils and water, is gaining traction as a vital ingredient in a broad spectrum of food products, from everyday spreads to high-end baked goods. The increased interest in vegan products, combined with concerns about sustainability and animal welfare, is expected to further accelerate margarine sales.

Surge in Demand for Non-GMO Margarine

In response to rising consumer concerns over genetically modified organisms (GMOs), the demand for non-GMO margarine is on the rise. Non-GMO margarine is becoming increasingly popular among those seeking healthier, clean-label products free from artificial additives and chemicals.

To cater to the health-conscious demographic, producers are focusing on developing non-GMO margarine varieties. By meeting the demand for natural, minimally processed foods, non-GMO margarine is becoming a preferred choice across various industries, including bakery, confectionery, and foodservice.

Key Market Drivers Supporting Growth

The global margarine market is driven primarily by the expanding food processing and manufacturing sectors. As these industries grow, the demand for essential ingredients like margarine is set to increase. The bakery and patisserie sectors, in particular, are becoming key drivers of margarine consumption, relying on it for the production of layered dough items like croissants and puff pastries.

Margarine's ease of use, including its ability to temper at moderate temperatures and produce high-quality baked goods, has solidified its position as a preferred fat source for food manufacturers. With rising demand for bakery items requiring premium fats and oils, margarine sales are expected to continue their upward trend.

Competition and Innovation in the Margarine Industry

Leading margarine producers are increasingly focusing on innovation to meet evolving consumer needs and industry demands. Companies are prioritizing the development of trans-fat-free products to comply with global health regulations and standards.

In addition, mergers and acquisitions are playing a pivotal role in shaping the competitive Analysis. Producers are expanding production capabilities and regional reach through strategic acquisitions, particularly in fast-growing margarine markets such as Asia-Pacific and South Asia.

These expansions have enabled companies to strengthen their presence and broaden their product offerings, further boosting the global reach of margarine products and meeting the rising demand from diverse consumer groups.

Challenges Facing the Margarine Market

Despite positive growth, the margarine market faces several challenges. One of the main issues is the availability of alternatives like butter, olive oil spreads, and other plant-based options. Health-conscious consumers are increasingly turning to healthier fat alternatives due to concerns over trans fats, which poses a challenge for margarine manufacturers. Continuous innovation is required to ensure margarine remains competitive.

Competitive Analysis

Wilmar International Ltd
Bunge Loders Croklaan
Conagra Foodservice, Inc.
PURATOS
Richardson Food & Ingredients
NMGK Group
EFKO Group
Vandemoortele
FUJI OIL ASIA PTE. LTD.
Royale Lacroix sa.
Aigremont
Upfield
ADEKA CORPORATION
KANEKA CORPORATION
Gagar Foods Pvt.Ltd.
Marinfood Co., Ltd.
Sime Darby Oils.
Cardowan Creameries.
SIDDHI MARGARINE SPECIALITES LTD.
Usha Edible Oil

Margarine Industry Research by Category

Margarine Market by Source:

Soybean Oil
Palm Oil
Corn Oil
Sunflower Oil
Canola Oil
Others

Margarine Market by Nature:

GMO Margarine
Non-GMO Margarine

Margarine Market by Type:

Salted Margarine
Unsalted Margarine

Margarine Market by End Use:

Bakery Products
- Patisserie
- Biscuits & Cookies
- Breads & Baked Rolls
- Others
Confectionery
Creams & Toppings
Table Top Margarine

Margarine Market by Distribution Channel:

Traditional Trade
Modern Trade
Industrial
Food Service

Margarine Market by Region:

North America Margarine Market
Latin America Margarine Market
Europe Margarine Market
South Asia & Pacific Margarine Market
East Asia Margarine Market
Middle East & Africa Margarine Market

1. Executive Summary

1.1. Global Margarine Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2024
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. Porter's Five Forces Analysis
2.5. COVID-19 Impact Analysis
- 2.5.1. Supply
- 2.5.2. Demand
2.6. Impact of Ukraine-Russia Conflict
2.7. Economic Overview
- 2.7.1. World Economic Projections
2.8. PESTLE Analysis

3. Global Margarine Market Outlook, 2019 - 2031

3.1. Global Margarine Market Outlook, by Source, Value (US$ Bn), 2019 - 2031
- 3.1.1. Key Highlights
  - 3.1.1.1. Soybean Oil
  - 3.1.1.2. Palm Oil
  - 3.1.1.3. Corn Oil
  - 3.1.1.4. Sunflower Oil
  - 3.1.1.5. Canola Oil
  - 3.1.1.6. Others
3.2. Global Margarine Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 3.2.1. Key Highlights
  - 3.2.1.1. GMO Margarine
  - 3.2.1.2. Non-GMO Margarine
3.3. Global Margarine Market Outlook, by Type, Value (US$ Bn), 2019 - 2031
- 3.3.1. Key Highlights
  - 3.3.1.1. Salted Margarine
  - 3.3.1.2. Unsalted Margarine
3.4. Global Margarine Market Outlook, by Region, Value (US$ Bn), 2019 - 2031
- 3.4.1. Key Highlights
  - 3.4.1.1. North America
  - 3.4.1.2. Europe
  - 3.4.1.3. Asia Pacific
  - 3.4.1.4. Latin America
  - 3.4.1.5. Middle East & Africa

4. North America Margarine Market Outlook, 2019 - 2031

4.1. North America Margarine Market Outlook, by Source, Value (US$ Bn), 2019 - 2031
- 4.1.1. Key Highlights
  - 4.1.1.1. Soybean Oil
  - 4.1.1.2. Palm Oil
  - 4.1.1.3. Corn Oil
  - 4.1.1.4. Sunflower Oil
  - 4.1.1.5. Canola Oil
  - 4.1.1.6. Others
4.2. North America Margarine Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 4.2.1. Key Highlights
  - 4.2.1.1. GMO Margarine
  - 4.2.1.2. Non-GMO Margarine
4.3. North America Margarine Market Outlook, by Type, Value (US$ Bn), 2019 - 2031
- 4.3.1. Key Highlights
  - 4.3.1.1. Salted Margarine
  - 4.3.1.2. Unsalted Margarine
- 4.3.2. BPS Analysis/Market Attractiveness Analysis
4.4. North America Margarine Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 4.4.1. Key Highlights
  - 4.4.1.1. U.S. Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 4.4.1.2. U.S. Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 4.4.1.3. U.S. Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 4.4.1.4. Canada Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 4.4.1.5. Canada Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 4.4.1.6. Canada Margarine Market by Type, Value (US$ Bn), 2019 - 2031
- 4.4.2. BPS Analysis/Market Attractiveness Analysis

5. Europe Margarine Market Outlook, 2019 - 2031

5.1. Europe Margarine Market Outlook, by Source, Value (US$ Bn), 2019 - 2031
- 5.1.1. Key Highlights
  - 5.1.1.1. Soybean Oil
  - 5.1.1.2. Palm Oil
  - 5.1.1.3. Corn Oil
  - 5.1.1.4. Sunflower Oil
  - 5.1.1.5. Canola Oil
  - 5.1.1.6. Others
5.2. Europe Margarine Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 5.2.1. Key Highlights
  - 5.2.1.1. GMO Margarine
  - 5.2.1.2. Non-GMO Margarine
5.3. Europe Margarine Market Outlook, by Type, Value (US$ Bn), 2019 - 2031
- 5.3.1. Key Highlights
  - 5.3.1.1. Salted Margarine
  - 5.3.1.2. Unsalted Margarine
- 5.3.2. BPS Analysis/Market Attractiveness Analysis
5.4. Europe Margarine Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 5.4.1. Key Highlights
  - 5.4.1.1. Germany Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 5.4.1.2. Germany Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.3. Germany Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.4. U.K. Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 5.4.1.5. U.K. Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.6. U.K. Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.7. France Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 5.4.1.8. France Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.9. France Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.10. Italy Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 5.4.1.11. Italy Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.12. Italy Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.13. Turkey Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 5.4.1.14. Turkey Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.15. Turkey Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.16. Russia Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 5.4.1.17. Russia Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.18. Russia Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 5.4.1.19. Rest of Europe Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 5.4.1.20. Rest of Europe Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 5.4.1.21. Rest of Europe Margarine Market by Type, Value (US$ Bn), 2019 - 2031
- 5.4.2. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Cassava Starch Market Outlook, 2019 - 2031

6.1. Asia Pacific Cassava Starch Market Outlook, by Source, Value (US$ Bn), 2019 - 2031
- 6.1.1. Key Highlights
  - 6.1.1.1. Soybean Oil
  - 6.1.1.2. Palm Oil
  - 6.1.1.3. Corn Oil
  - 6.1.1.4. Sunflower Oil
  - 6.1.1.5. Canola Oil
  - 6.1.1.6. Others
6.2. Asia Pacific Margarine Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 6.2.1. Key Highlights
  - 6.2.1.1. GMO Margarine
  - 6.2.1.2. Non-GMO Margarine
6.3. Asia Pacific Margarine Market Outlook, by Type, Value (US$ Bn), 2019 - 2031
- 6.3.1. Key Highlights
  - 6.3.1.1. Salted Margarine
  - 6.3.1.2. Unsalted Margarine
- 6.3.2. BPS Analysis/Market Attractiveness Analysis
6.4. Asia Pacific Margarine Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 6.4.1. Key Highlights
  - 6.4.1.1. China Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 6.4.1.2. China Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.3. China Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.4. Japan Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 6.4.1.5. Japan Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.6. Japan Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.7. South Korea Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 6.4.1.8. South Korea Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.9. South Korea Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.10. India Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 6.4.1.11. India Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.12. India Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.13. Southeast Asia Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 6.4.1.14. Southeast Asia Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.15. Southeast Asia Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 6.4.1.16. Rest of Asia Pacific Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 6.4.1.17. Rest of Asia Pacific Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 6.4.1.18. Rest of Asia Pacific Margarine Market by Type, Value (US$ Bn), 2019 - 2031
- 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Latin America Margarine Market Outlook, 2019 - 2031

7.1. Latin America Margarine Market Outlook, by Source, Value (US$ Bn), 2019 - 2031
- 7.1.1. Key Highlights
  - 7.1.1.1. Soybean Oil
  - 7.1.1.2. Palm Oil
  - 7.1.1.3. Corn Oil
  - 7.1.1.4. Sunflower Oil
  - 7.1.1.5. Canola Oil
  - 7.1.1.6. Others
7.2. Latin America Margarine Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
7.3. Latin America Margarine Market Outlook, by Type, Value (US$ Bn), 2019 - 2031
- 7.3.1. Key Highlights
  - 7.3.1.1. Salted Margarine
  - 7.3.1.2. Unsalted Margarine
- 7.3.2. BPS Analysis/Market Attractiveness Analysis
7.4. Latin America Margarine Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 7.4.1. Key Highlights
  - 7.4.1.1. Brazil Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 7.4.1.2. Brazil Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 7.4.1.3. Brazil Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 7.4.1.4. Mexico Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 7.4.1.5. Mexico Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 7.4.1.6. Mexico Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 7.4.1.7. Argentina Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 7.4.1.8. Argentina Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 7.4.1.9. Argentina Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 7.4.1.10. Rest of Latin America Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 7.4.1.11. Rest of Latin America Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 7.4.1.12. Rest of Latin America Margarine Market by Type, Value (US$ Bn), 2019 - 2031
- 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Margarine Market Outlook, 2019 - 2031

8.1. Middle East & Africa Margarine Market Outlook, by Source, Value (US$ Bn), 2019 - 2031
- 8.1.1. Key Highlights
  - 8.1.1.1. Soybean Oil
  - 8.1.1.2. Palm Oil
  - 8.1.1.3. Corn Oil
  - 8.1.1.4. Sunflower Oil
  - 8.1.1.5. Canola Oil
  - 8.1.1.6. Others
8.2. Middle East & Africa Margarine Market Outlook, by Nature, Value (US$ Bn), 2019 - 2031
- 8.2.1. Key Highlights
  - 8.2.1.1. GMO Margarine
  - 8.2.1.2. Non-GMO Margarine
8.3. Middle East & Africa Margarine Market Outlook, by Type, Value (US$ Bn), 2019 - 2031
- 8.3.2. BPS Analysis/Market Attractiveness Analysis
8.4. Middle East & Africa Margarine Market Outlook, by Country, Value (US$ Bn), 2019 - 2031
- 8.4.1. Key Highlights
  - 8.4.1.1. GCC Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 8.4.1.2. GCC Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 8.4.1.3. GCC Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 8.4.1.4. South Africa Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 8.4.1.5. South Africa Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 8.4.1.6. South Africa Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 8.4.1.7. Egypt Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 8.4.1.8. Egypt Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 8.4.1.9. Egypt Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 8.4.1.10. Nigeria Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 8.4.1.11. Nigeria Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 8.4.1.12. Nigeria Margarine Market by Type, Value (US$ Bn), 2019 - 2031
  - 8.4.1.13. Rest of Middle East & Africa Margarine Market by Source, Value (US$ Bn), 2019 - 2031
  - 8.4.1.14. Rest of Middle East & Africa Margarine Market by Nature, Value (US$ Bn), 2019 - 2031
  - 8.4.1.15. Rest of Middle East & Africa Margarine Market by Type, Value (US$ Bn), 2019 - 2031
- 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. By Type vs by Nature Heat map
9.2. Manufacturer vs by Nature Heatmap
9.3. Company Market Share Analysis, 2024
9.4. Competitive Dashboard
9.5. Company Profiles
- 9.5.1. Wilmar International Ltd
  - 9.5.1.1. Company Overview
  - 9.5.1.2. Product Portfolio
  - 9.5.1.3. Financial Overview
  - 9.5.1.4. Business Strategies and Development
- 9.5.2. Bunge Loders Croklaan
  - 9.5.2.1. Company Overview
  - 9.5.2.2. Product Portfolio
  - 9.5.2.3. Financial Overview
  - 9.5.2.4. Business Strategies and Development
- 9.5.3. Conagra Foodservice, Inc.
  - 9.5.3.1. Company Overview
  - 9.5.3.2. Product Portfolio
  - 9.5.3.3. Financial Overview
  - 9.5.3.4. Business Strategies and Development
- 9.5.4. PURATOS
  - 9.5.4.1. Company Overview
  - 9.5.4.2. Product Portfolio
  - 9.5.4.3. Financial Overview
  - 9.5.4.4. Business Strategies and Development
- 9.5.5. Richardson Food & Ingredients
  - 9.5.5.1. Company Overview
  - 9.5.5.2. Product Portfolio
  - 9.5.5.3. Financial Overview
  - 9.5.5.4. Business Strategies and Development
- 9.5.6. NMGK Group
  - 9.5.6.1. Company Overview
  - 9.5.6.2. Product Portfolio
  - 9.5.6.3. Financial Overview
  - 9.5.6.4. Business Strategies and Development
- 9.5.7. EFKO Group
  - 9.5.7.1. Company Overview
  - 9.5.7.2. Product Portfolio
  - 9.5.7.3. Financial Overview
  - 9.5.7.4. Business Strategies and Development
- 9.5.8. Vandemoortele
  - 9.5.8.1. Company Overview
  - 9.5.8.2. Product Portfolio
  - 9.5.8.3. Financial Overview
  - 9.5.8.4. Business Strategies and Development
- 9.5.9. FUJI OIL ASIA PTE. LTD.
  - 9.5.9.1. Company Overview
  - 9.5.9.2. Product Portfolio
  - 9.5.9.3. Financial Overview
  - 9.5.9.4. Business Strategies and Development
- 9.5.10. Royale Lacroix sa.
  - 9.5.10.1. Company Overview
  - 9.5.10.2. Product Portfolio
  - 9.5.10.3. Financial Overview
  - 9.5.10.4. Business Strategies and Development
- 9.5.11. Aigremont
  - 9.5.11.1. Company Overview
  - 9.5.11.2. Product Portfolio
  - 9.5.11.3. Financial Overview
  - 9.5.11.4. Business Strategies and Development
- 9.5.12. Upfield
  - 9.5.12.1. Company Overview
  - 9.5.12.2. Product Portfolio
  - 9.5.12.3. Financial Overview
  - 9.5.12.4. Business Strategies and Development
- 9.5.13. ADEKA CORPORATION
  - 9.5.13.1. Company Overview
  - 9.5.13.2. Product Portfolio
  - 9.5.13.3. Financial Overview
  - 9.5.13.4. Business Strategies and Development

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations