Over the forecast period (2023 to 2033), the spreadable fats market is anticipated to expand at a compound annual growth rate (CAGR) of 7%. It is anticipated that by 2033, sales in the industry will have grown from US$ 17,637.80 million in 2023 to US$ 28,730.12 million. Spreadable fats are solid fats that, at 20 °C, hold onto 10% to 80% of their original thickness.
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.
Spreadable fats have grown in popularity in recent years thanks to their numerous health advantages. Spreadable fats are solid at room temperature but can be spread. Butter, margarine, dairy spreads, and other fats are examples of them. They are being utilised more frequently in both homes and food processing businesses.
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Some of the major reasons anticipated to propel the global spreadable fats market forward throughout the forecast period include rising global population, rising income levels, changing lifestyles, and growing inclination for high-nutrient food products.
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.
Spreadable Fats Market by Category
By Product:
- Butter
- Cheese
- Cream
- Plant Derived Spreads
- Others
By Source:
- Plant
- Soya Milk
- Peanut
- Hazelnut
- Animal
- Cow Milk
- Camel Milk
- Goat Milk
- Buffalo Milk
By End User:
- Commercial
- Domestic purpose
By Distribution:
- Hypermart /Super Mart
- Convenience Stores
- Online Stores
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- Middle East and Africa(MEA)
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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.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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