The global industrial margarine market is anticipated to grow at a rate of 5.1% CAGR from 2023 to 2033. It is anticipated that the market valuation will reach US$ 2.69 billion in 2023. It is anticipated that the numbers will rise above US$ 4.42 billion by 2033.
Worldwide, the prevalence of lactose intolerance has increased. Experts estimate that around 68% of people suffer from lactose intolerance in one way or another. The market has a lot of potential because they are a great source of vitamin D and A and are free of milk.
There is growing disapproval of the consumption of food products containing genetically modified organisms (GMOs). Numerous users of GMO-based products have complained of illness and pain. Furthermore, because they are not naturally processed, these have far less nutritional value than their organic counterparts. There is created industrial margarine that is non-GMO. These variables should increase demand for industrial margarine during the course of the forecast period.
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The countries of the Middle East are quite picky about halal certifications. The halal certification of the industrial margarine and its products has greatly increased consumer confidence.
The growing bakery market represents a world of opportunities in front of the industrial margarine sector. The global bakery products market is expected to cross a valuation of US$ 600 billion by 2030. Margarine is used in bakery products, as these act as an emulsifier and also assist in the spreading process.
There is also increased consumption of plant-based food products owing to surging vegans and a surging health consciousness. Industrial margarine does not contain animal fats, and this is expected to massively surge the adoption rate.
Thus, from the insights provided by FMI researchers, it can be inferred that ‘surging cases of lactose intolerance, rising consumption of non-GMO food, mandatory halal certification, and a lot of other factors are expected to surge the industrial margarine market share during the forecast period.’
Embark on a journey into the burgeoning industrial margarine market, set to witness an impressive CAGR of 5.1% between 2023 and 2033. Uncover the market dynamics propelling this growth, from the surge in lactose intolerance cases to the increasing demand for non-GMO food products. Explore how industrial margarine, with its halal certifications and pivotal role in the booming bakery industry, is becoming a vital player in the evolving landscape of food and nutrition.
Key Takeaways and Insights:
- Lactose Intolerance Surge: Analyze the market opportunity arising from the global increase in lactose intolerance cases, exceeding 68%. Industrial margarine, being milk-free and rich in vitamins D and A, emerges as a sought-after solution for health-conscious consumers.
- Non-GMO Revolution: Delve into the growing resistance to genetically modified organisms (GMOs) and how the non-GMO status of industrial margarine positions it as a healthier alternative, attracting consumer demand and fostering market growth.
- Halal Certification Impact: Explore the Middle East’s preference for halal-certified products, understanding how the certification of industrial margarine enhances consumer confidence and contributes to its market traction.
- Bakery Bonanza: Navigate the opportunities presented by the expanding bakery market, projected to surpass $600 billion by 2030. Learn how industrial margarine’s role as an emulsifier and spreading agent makes it indispensable in the baking industry.
- Plant-Based Revolution: Uncover the surge in plant-based food consumption driven by the rise in veganism and health-conscious choices. Recognize how industrial margarine, free from animal fats, aligns with this trend, resulting in a significant adoption rate.
Market Figures and Projections:
- CAGR Projection: Anticipate a robust 5.1% CAGR for the industrial margarine market during the forecast period.
- 2023 Market Valuation: Witness the market’s estimated size at $2.69 billion in 2023.
- 2033 Market Surge: Envision the market figures soaring beyond $4.42 billion by 2033.
Competitive Landscape and Sustainability Initiatives:
- Key Player Strategies: Gain insights into key players’ strategies, focusing on mergers, acquisitions, and partnerships to expand capabilities and market share.
- Sustainable Development: Explore the industry’s commitment to sustainability, with a focus on reducing carbon emissions and aligning strategies with the United Nations’ sustainability goals.
Key Developments:
- Investment Initiatives: Examine significant investments, such as Bunge’s decision to invest in a new protein concrete facility in the United States.
- Leadership Promotions: Stay updated on industry developments, including Conagra Brands’ promotion of Tracy Schaefer to Chief Information Officer in August 2022.
Key Takeaways:
- The market is expected to record a CAGR of 5.1% during the forecast period.
- In 2023, the market size is estimated to be US$ 2.69 billion.
- By 2033, the figure is expected to surge beyond US$ 4.42 billion.
- Based on regional analysis, North America is expected to hold the dominant market share. On the basis of CAGR, Asia Pacific is expected to hold the leading position.
- On the basis of type, the spreadable segment is expected to hold the leading market share during the forecast period.
- Based on application, the bakery segment is expected to hold the leading market share during the forecast period.
Competitive Landscape
The key players operating in the market are focusing on looking for leaders, who have been a part of the market for decades. Through their expertise, the manufacturers might expand their capabilities. The idea is also to develop strategies to get into meaningful mergers and acquisitions. This is done to expand the market share, and serve new regions. The manufacturers are also developing strategic partnerships with players from other niches to assess their technology. This may also help in knowledge sharing. With a focus all set on sustainable development, the key players are setting strategies that are in tandem with the United Nations’ sustainability goals. Thus, there is an increasing deployment of green practices, like working intensely to reduce carbon emissions.
Key developments in the market:
- In December 2022, Bunge decided to invest in a new protein concrete facility in the United States.
- In August 2022, Conagra Brands promoted Tracy Schaefer to Chief Information Officer.
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Industrial Margarine Market Segmentation
By Type:
- All Purpose
- Spreadable
- Butter Blend
By Form:
- Hard
- Soft
By Source:
- Plant
- Animal
By Application:
- Bakery
- Spreads
- Sauced and Toppings
- Confectionary
- Convenience Foods
- Other Applications
By Region:
- North America
- Latin America
- Asia Pacific
- The Middle East and Africa
- Europe
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 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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