According to Future Market Insights, the global spreadable fats market size is expected to reach US$ 28,730.12 Mn in 2033. Furthermore, with rising consumption of high nutritional products like butter and cheese, overall sales of spreadable fats are projected to rise at 7.0% CAGR between 2023 and 2033.
In recent years, spreadable fats have gained wider popularity across the world due to their high various health benefits. Spreadable fats are fats that are solid but spreadable at room temperature. These fats include butter, margarine, dairy spreads, etc. They are being increasingly used across households and food processing companies.
Rising world population, increasing income levels, changing lifestyles, and growing preference for high nutritional food products are some of the key factors expected to drive the global spreadable fats market forwards during the forecast period.
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Similarly, growing popularity of plant-based products, increasing consumption of spreadable fats across quick service restaurants, and continuous new product launches by companies will boost the market over the next ten years.
Leading companies have well-established supply chains and strong relationships with customers. They are also vertically integrated, meaning they control all aspects of production from raw materials to packaging. They are using various tactics including advertisements. celebrity endorsements, and use of sustainable packaging to increase their sales.
Key Takeaways from the Spreadable Fats Market Study:
- By product type, demand is expected to remain high for butter during the forecast period.
- Based on source, the plant segment will grow at a higher CAGR owing to the rising trend of veganism globally.
- In terms of sales channel, online segment is likely to generate the highest revenues over the next ten years.
- North American spreadable fats market is expected to hold more than 38% share of the global spreadable fats market by the end of 2033.
- Asia pacific region is predicted to emerge as the most lucrative spreadable fats market during the forthcoming decade.
- Demand for spreadable products across China is set to increase at a robust pace between 2023 and 2033.
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Who is Winning?
Key players in the global spreadable fats market include Cargill Inc., Hindustan Unilever, Wilmar International Limited, Associated British foods plc, ADM (Archer Daniels Midland Company, Bunge Limited, and Amul (India).
Majority of the spreadable fat manufacturers are introducing new products with eco-friendly packaging to expand their customer base. Further, they are adopting strategies such as partnerships, mergers, acquisitions, facility expansions, and strengthening distribution channels to stay ahead of the competition.
Get Valuable Insights into Spreadable Fats Market
FMI, in its new offering, provides an unbiased analysis of the spreadable fats market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for spreadable fats based on product (butter, cheese, cream, plant derived spreads, and others), source (plant (soya milk, peanut, hazelnut), animal (cow milk, camel milk, goat milk, buffalo milk, and others), distribution channel (supermarkets & hypermarkets, convenience stores, online stores, and others), and End user (commercial, domestic purpose), across seven regions.
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About the Food & Beverage Division at Future Market Insights
Expert analysis, actionable insights, and strategic recommendations – the Food & Beverage team at Future Market Insights helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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