According to a recent analysis by Future Market Insights, a market research and competitive intelligence provider, sales of Vegan Margarine are expected to reach US$ 1,307.1 million by 2032, growing at a 3.2% CAGR during the decade.
The increasing demand for vegan products in both developed and developing countries has a significant impact on the global Vegan Margarine market. As people around the world become more health-conscious, there is a growing demand for healthier foods.
Margarine and spreads now use vegetable oils instead of animal fats. Their popularity has fluctuated due to butter shortages, low prices, health concerns about animal and trans fats, and consumer interest in palm oil and vegetarianism.
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Some of the factors that will likely accelerate the growth of the plant-based margarine market include greater usage of confectionaries as a dessert, availability of products for lactose intolerant people, changes in lifestyle combined with rising disposable income, and an increase in the number of small bakeries and artisanal bakeries. This trend is expected to continue and extend throughout developed regions in the coming years. Despite the fact that conventional is the more popular source in terms of units eaten, the organic category is projected to grow at the rapid pace in terms of revenue throughout the forecast period.
Key Takeaways from Market Study
- North America is expected to have 38% vegan margarine market share.
- US holds 65 % vegan margarine market share in North American Market.
- Europe is expected to have 31 % vegan margarine market share.
- Germany holds 22 % vegan margarine market share in European Market.
- Asia is expected to have 20 % vegan margarine market share.
- China holds 32 % vegan margarine market share in Asian Market.
- Market players are experimenting with new ways on increasing production capacity and also doing research and innovation to create products.
“ The growing focus on the consumption of vegan food products in developed regions such as Europe and North America is likely to open lucrative opportunity for market players in the long run”, –says a lead analyst at Future Market Insights.
Competitive Landscape
Vegan Margarine have a strongly competitive global market. To stay ahead of the game and outperform their competitors, businesses are using innovative methods such as expanding their worldwide client base and utilising various advertising approaches. They’re focusing on increasing production capacity and also doing research and innovation to create new products.
Some of the leading companies offering Snack Pellets are Bunge Limited; Dairy Crest Limited; Unilever; PURATOS; Wilmar International Ltd; FUJI OIL HOLDINGS INC.; LASENOR EMUL, S.L.; EFKO Group; Richardson International Limited.; Sime Darby Oils Zwijndrecht Refinery B.V.; Currimjee Vandemoortele; NMGK Group; Silverson; Bonanza Megah; Muez-Hest India Private Limited.; Walter Rau Lebensmittelwerke GmbH; Jeewanjee and Company Limited.; Conagra Brands, Inc.; Cardowan Creameries Limited;.
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Future Market Insights, in its new offering, provides an unbiased analysis of the Vegan Margarine presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032.
Vegan Margarine Market by Category
By Form, the Vegan Margarine Market is Segmented as:
- Spreadable
- Stick
By Application, the Vegan Margarine Market is Segmented as:
- Household
- Food Industry
- Bakery
- Confectionery
- Spreads and Sauces
- Others
By Sales Channel, the Vegan Margarine Market is Segmented as:
- Supermarket/Hypermarket
- Convenience Store
- Specialty Store
- E-Retailers
- Others
By Region, the Vegan Margarine Market is Segmented as:
- North America
- Latin America
- Europe
- Middle east and Africa
- East Asia
- South Asia
- Oceania
The report covers exhaustive analysis on:
- How Big is the Vegan Margarine Market?
- What is the North America Vegan Margarine Market Outlook?
- At What Rate will Vegan Margarine Demand Grow in Europe?
- What Are the Key Trends Shaping the Vegan Margarine Market?
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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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