The global butter and margarine market size is set to attain US$ 4,885.40 million valuation in 2024. The butter and margarine sales indicate an upswing at a steady CAGR of 6.2% between 2024 and 2034.
The butter and margarine demand has the potential to secure a worth of US$ 8,935.40 million by 2034. The advancing inclination towards confectionery and bakery products among customers positively impacts the adoption of butter and margarine.
The health benefits of margarine play an important role in spurring the demand for margarine among health-conscious consumers, who are looking for alternatives with lower saturated fats. Since there has been a notable rise in lactose intolerant people, margarine is suitable for such cases. The plant-based and dairy-free options witnessed an escalation in sales of margarine.
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Convenient food is experiencing a rise due to people’s busy, sedentary lifestyles and eating habits. There is a wide adoption of butter and margarines as spreads and items for cooking prep, which makes them an essential item in the kitchen.
The price of the raw material used in the production of butter and margarines ever evolving. The fluctuation of the prices negatively impacts the production costs and the profit margins of the butter and margarine producers.
With the prosperity of e-commerce, there is a development of a new and booming distribution channel for butter and margarine. The e-commerce platform provides a wider and easier reach to consumers, resulting in a surge in sales of butter and margarine.
Regional Outlook
The Asia Pacific market growth of butter and margarines has evolved by the surging disposable income and prospering food industry. Urbanization and shifting dietary habits escalate the demand for butter and margarines in the Asia Pacific region.
Focus on natural and organic products is an expanding butter and margarine market trend in Europe. Sustainability and health awareness among customers propel the margarine market forward towards healthier alternatives.
The evolution inclined towards luxury and handcrafted products driven by authenticity, thrust the adoption of butter and margarines in North America.
“Shifting consumer choices and cookery trends continually thrust the growth of the butter and margarine market. Developing health awareness and demand for diverse cooking ingredients, advance the market expansion of butter and margarine”, remarks an FMI analyst.
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Key Takeaways
- The spreadable butter and margarine segment in the usage category to possess a share of 89.8% in 2024.
- In the distribution channel category, the sales via retail channel segment to procure a market share of 78.9% in 2024.
- The United States butter and margarine sales equates at a sluggish CAGR of 2.2% through 2034.
- Germany butter and margarine market indicates a moderate CAGR of 4.6% from 2024 to 2034.
- China sales of butter and margarine show escalation at a slow CAGR of 1.1% through 2034.
- India butter and margarine industry imply growth a mild CAGR of 4.4% between 2024 and 2034.
- Japan butter and margarine market reflects expansion a slow CAGR of 0.9% through 2034.
Competitive Landscape
Due to the presence of a considerable number of butter and margarine manufacturers, the market if acutely competitive. The key vendors hold a substantial market size, there are also several regional butter and margarine producers giving significant growth, particularly in the Asia Pacific region.
Cutting-edge Breakthroughs
- To reach a wider customer base, Fuji Oil Group and ITOCHU Group partnered and expanded their sales channel of the vegetable oil business, strengthening the market position in North America in September 2021.
- In March 2020, Wilmar International announced the establishment of a new facility in South Africa for the processing of crude vegetable oil. The plant was used to make margarine, mayonnaise, and cooking oil.
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Key Segments
By Type:
- Traditional
- Liquid
- Other
By Usage:
- Spreadable
- Non-spreadable
By Distribution Channel:
- Sales via Retail Channels
- Sales via Industrial Channels
- Sales via Food Service Channels
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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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