Global Industrial Margarine Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth
- Vikas Kumar
- April 23, 2022
- CONSUMER GOODS, NEWS
- Industrial Margarine Market, Industrial Margarine Market growth, Industrial Margarine Market News, Industrial Margarine Market report, Industrial Margarine Market Share, Industrial Margarine Market Size, Industrial Margarine Market Trend
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The global Industrial Margarine market is expected to grow significantly by 2027 expanding at a CAGR of ~5% during the forecast period (2021-2027).
The growing geriatric population base with a higher predisposition to various age-related diseases such as cancer, cardiovascular diseases, arthritis, hypertension, etc. is a leading cause that is adding pace to the growth in the demand for margarine for healthy diets and proper nutrition. According to the United Nations, the global population aged 60 years or over was numbered 962 million in 2017 and is expected to reach nearly 2.1 billion by 2050. Adults who used margarine in food preparation were 35% less likely to be in the older age group.
Moreover, Older people need to have enough vitamin D in their diet to maintain their bone health and prevent damage to their bones or muscles when they fall. The American Geriatrics Society (AGS) recommends that clinicians tell older patients to take vitamin D 1000 IU/day, to help prevent fractures. Some foods have vitamin D added to them, including margarine.
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A growing emphasis on the diet among individuals across the globe is leading to the growing demand for healthy food and diets including margarine. As per FAOSTAT, the availability of calories per capita from the mid-1960s to the late 1990s increased globally by approximately 450 kcal per capita per day and by over 600 kcal per capita per day in developing countries. However, this change is not equal across regions. Moreover, the per capita supply of calories has remained almost stagnant in sub-Saharan Africa and has recently fallen in the countries in economic transition.
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The Prevalence of Obesity and Overweight is rising dramatically across the globe and has nearly tripled since 1975. End-Users are more conscious about their health and wellbeing. Margarine is a healthy substitute for dairy-based fats as it is cholesterol-free. Therefore, the market is uplifting. Obesity is among one of the leading causes of death worldwide as obese people are prone to many serious health conditions and illnesses. For instance, as per CDC, More than 900,000 adult COVID-19 hospitalizations occurred in the United States between the beginning of the pandemic and November 18, 2020. Models estimate that 271,800 (30.2%) of these hospitalizations were attributed to obesity.
Globally, the number of people overweight or obese has reached epidemic proportions fueling the growing rates of non-communicable diseases, including at least ten cancers. Excessive sugar consumption is one-factor promoting overweight and obesity. Over the last decade, global sugar consumption has grown from about 130 to 178 million tonnes. A rise in chronic disease coupled with rising obesity is leading to the growing demand for healthy food, therefore, the demand for industrial margarine is promulgating
Based on the type, the market is fragmented into Spreadable, All-Purpose, and Butter blends. The all-purpose segment grabbed XX% market share in 2020 and captured USD XX Mn market in 2020. Snowballing adoption in savories, bread, and bakery industries is leading to the growing share of this segment. These products are ideal for the preparation of cookies, short eats from bread dough & sweet buns owing to their ability to maintain product freshness and prevent dryness.
Based on the application, the market is fragmented into Bakery, Confectionery, Convenience Food, Sauces, Spread & Toppings. The bakery segment captured XX% Market share in 2020 and dominated the market. Bakery products are an item of mass consumption because of their low price and high nutrient value. With the rapid growth and changing eating habits of people, bakery products have gained popularity among the masses. Therefore, the market share of the segment is uplifting.
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Additionally, the report provides detailed initiatives that are being taken in the field of Industrial Margarine. The market is classified into distinct regions including North America (the U.S, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, and United Kingdom and the Rest of Europe), Asia-Pacific (China, Japan, Australia, India, and the Rest of APAC), Rest of World has been conducted. North America region grabbed XX% market and captured USD XX Mn market share in 2020. The presence of manufacturers in the abundance of food products and the emerging number of food manufacturing companies in countries such as Japan, China, and South Korea is the key factor that is driving the market. However, the Europe region would witness a robust CAGR in the forthcoming years.
Global Industrial Margarine Market Segmentation
Market Insight, by Type
- Butter Blend
Market Insight, by Application
- Convenience Food
- Spreads & Toppings
Market Insight, by Form
Market Insight, by Source
Market Insight, by Region
- North America
- United States
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of World
Top Company Profiles
- Wilmar International
- Associated British Foods
- Fuij Oil
- Richardson International
- Royale Lacroix
- EFCO Group