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The industrial margarine industry is witnessing notable growth, driven by increasing demand in the food processing industry, particularly in bakery and confectionery applications. Key trends include a shift towards healthier formulations, such as reduced trans-fat and low-fat variants, in response to rising consumer health awareness. Additionally, the market is benefiting from advancements in margarine production technology, which enhance product consistency and shelf life.
The growing preference for plant-based and non-dairy alternatives is also influencing product innovation, with manufacturers focusing on sustainable sourcing and environmentally friendly production processes. Regional market dynamics, especially in emerging economies, are further shaping the market's expansion, as these regions experience increased urbanization and changing dietary patterns.
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.
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.
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.