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Get a free sample of Vegan Margarine Market
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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.
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.
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.
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.