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Industrial Margarine Market Size

Report ID: GMI4361
Published Date: Aug 2024
Report Format: PDF

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Industrial Margarine Market Size

Industrial Margarine Market size was valued at USD 2.7 Billion in 2023 and is projected to grow at 4.5% CAGR from 2024 to 2032. Growing demand for low fat food & beverages owing to changing lifestyles and rising health consciousness should boost the market growth. Global low calorie food market size surpassed USD 858.2 Million in 2018 which indicates ample growth potential. Young consumers are increasingly aware of the health benefits of adopting a healthy diet such as prevention of obesity and diabetes.

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Rising number of low-calorie food products stocked by supermarkets, and significant research & development initiatives undertaken by manufacturers to expand their product portfolio and offer improved products at low prices should further promote market growth.

Industrial Margarine Market Report Attributes
Report Attribute	Details
Base Year:	2023
Industrial Margarine Market Size in 2023:	USD 2.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	4.6%
2032 Value Projection:	USD 4.1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	200
Tables, Charts & Figures:	172
Segments covered:	By Source, By Form, By Type, By Application
Growth Drivers:	Rising consumption of healthy food alternatives owing to increasing prevalence of lifestyle disorders Growing demand for sauces condiments & dressing
Pitfalls & Challenges:	Booming bakery & confectionary industries Stringent regulations

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Rising prevalence of stringent food regulations which seek to limit fat content in industrial margarine-based products should hinder market growth. For instance, EU Regulation (EC) no. 1308/2013 categorises the product in the “fats” group and levies restrictions on the milk-fat content. Similarly, Indian Food safety regulator FSSAI seeks to reduce the trans-fatty acid content of these products to below 2 percent in a phased manner. However, manufacturers focus on innovations to improve product properties and ensure regulatory compliance which should trigger market growth.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of industrial margarine reached USD 2.7 billion in 2023 and will grow at 4.5% CAGR between 2024 and 2032, fueled by the growing demand for processed and convenience foods, which utilize margarine as a versatile ingredient.

The hard margarine form segment will achieve 4.8% CAGR from 2024 to 2032, propelled by its widespread use in baking and food processing applications.

Asia Pacific market will register 4.7% CAGR through 2032, owing to its expanding food processing sector and growing demand for processed foods.

Key players operating in the industry are Wilmar International Ltd, Bunge Limited, PURATOS, FUJI OIL CO., LTD., Vandemoortele, NMGK Group, EFKO Group, Royale Lacroix SA, Richardson International Limited, and Cargill, Incorporated, among others.