Meticulous Research®, a leading global market research company, published a research report titled, ‘Industrial Margarine Market by Type (All Purpose Margarine, Spreadable, Butter Blend, Spray), Form (Hard and Soft), Source (Plants and Animals), Application (Bakery, Confectionery, Toppings, Sauces, and Spreads) - Global Forecast to 2030.'
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As per a recent analysis by Meticulous Research®, the global industrial margarine market is set to achieve a CAGR of 4.3% from 2023 to 2030, reaching an estimated market value of $3.54 billion by 2030. Factors contributing to this growth include the rapid expansion of the bakery sector, increasing consumer adoption of vegan diets, and the growing preference for more affordable butter substitutes. However, the rise of health-conscious consumers could present obstacles to market expansion.
The market is segmented by product type (all-purpose, spreadable, butter blend, and spray margarine), form (hard and soft margarine), source (plant- or animal-based), and applications (such as bakery, confectionery, sauces, spreads, and convenience foods), with a detailed analysis by region. The report also features insights into major competitors and regional market dynamics.
In 2023, all-purpose margarine is expected to dominate the market, fueled by rising demand from food service providers and a growing vegan customer base. Its appeal stems from its versatility and lower saturated fat content compared to butter.
Soft margarine is forecast to witness the fastest growth due to innovation in product offerings and greater consumer interest in healthier spread options. Typically made with oils such as canola or olive oil, soft margarine aligns with current health trends that favor lower saturated fat content.
The toppings, sauces, and spreads application segment is predicted to grow the fastest, as consumers increasingly opt for fast foods with added sauces and toppings. The Asia-Pacific region is expected to see the highest growth, driven by increasing demand for convenience foods, rising incomes, and urbanization trends.
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