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Vegan Margarine Market Trends

Report ID: GMI10319
Published Date: Jul 2024
Report Format: PDF

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Vegan Margarine Market Trends

The vegan margarine industry is witnessing several notable trends, including a growing emphasis on sustainability and health. Consumers are increasingly seeking products that are not only plant-based but also free from genetically modified organisms (GMOs) and artificial additives. There is a rising demand for organic and non-GMO vegan margarines, driven by health-conscious and environmentally aware consumers.

Additionally, innovative product formulations, such as those enriched with vitamins and minerals, are gaining popularity. The market is also benefiting from the expansion of distribution channels, including the proliferation of e-commerce platforms and the inclusion of vegan products in mainstream supermarkets. Influencer marketing and endorsements from health and wellness advocates further propel market growth, making vegan margarine a staple in more households worldwide.

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The market size of vegan margarine reached USD 22.88 billion in 2023 and will register 5.1% CAGR from 2024 to 2032, on account of increasing number of consumers adopting vegan and flexitarian lifestyles, driven by ethical, environmental, and health considerations.

The beverages application of vegan margarine industry will expand at 3.7% CAGR from 2024 to 2032, owing to shift towards plant-based alternatives from traditional dairy products, the proliferation of innovative product formulations and flavors, combined with effective marketing campaigns.

Asia Pacific market will record 2.2% CAGR during 2024 and 2032, driven by the increasing consumer awareness about health & wellness, leading to a shift towards plant-based diets, alongside the rising disposable incomes and urbanization.

Bunge Limited, Conagra Brands, Inc., Currimjee Vandemoortele, Dairy Crest Limited, EFKO Group, FUJI OIL HOLDINGS INC., LASENOR EMUL, S.L., Muez-Hest India Private Limited, and NMGK Group among others.