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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According to the latest report by Meticulous Research®, the global industrial margarine market is projected to grow at a CAGR of 4.3% between 2023 and 2030, reaching a valuation of $3.54 billion by the end of the forecast period. The market's growth is driven by the expanding bakery industry, the rising popularity of veganism, and the availability of cost-effective butter alternatives. However, the market may face challenges due to the growing number of health-conscious consumers.
The industrial margarine market is categorized by type (all-purpose, spreadable, butter blend, and spray margarine), form (hard and soft margarine), source (plant-based and animal-based), application (bakery, confectionery, toppings, sauces and spreads, convenience foods, and more), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). This comprehensive study also includes competitive insights and regional market analysis.
Among product types, all-purpose margarine is expected to hold the largest market share in 2023, supported by its increasing use in the food service sector and among the vegan population. Its lower saturated fat content compared to butter, along with its versatility in cooking and baking, further boosts its demand.
In terms of form, the soft margarine segment is poised for the fastest growth, driven by product innovations and increased consumer spending on spreads. Composed largely of healthier oils such as olive or canola, soft margarine is a preferred choice for those seeking to reduce saturated fat intake.
The toppings, sauces, and spreads application segment is anticipated to experience the highest growth rate, driven by the growing preference for fast foods featuring toppings and sauces. Geographically, the Asia-Pacific region is projected to lead the market’s growth, fueled by rising demand for ready-to-eat packaged foods, urbanization, and an increasing female workforce.
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