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Margarine is a butter alternative made from plant oils and animal fats. The rising demand for different types of bakery products and healthy processed food products which need a large amount of low priced fat for baking, cooking and seasoning purpose is expected to drive the global industrial margarine market. Margarine acts as an emulsifier in the food processing industry and imparts organoleptic characteristics such as richness to the taste and smooth texture to the food products.
The growing awareness about the benefits of vegetarian and vegan diets is anticipated to boost the industrial margarine demand in the forthcoming years. The changing preferences for plant-based foods in recent years have been a contributing factor to the growth of the global industrial margarine market. The key companies are focused on launching innovative plant-based margarine in the market to fulfill the growing consumer demands. For instance, in January 2018, Unilever launched a new range of Becel Vegan margarine flavors, that are 100% plant-based margarine.
Key Market Driver -
Low Priced Substitute to Butter.
Key Market Restraint -
Stringent Regulations on Trans-Fat Containing Food Products.
Margarine adds organoleptic characteristics in the food products and is highly potential in increasing the shelf life of the food, which is projected to drive the growth of the industrial margarine market. The growing consumer enthusiasm towards adopting a healthy lifestyle and growing demand for low-fat or fat-free and natural baked food products is expected to stimulate the growth of the industrial margarine market. The rising adoption of low-calorie baked food products owing to improve the healthy snacking habits has influenced manufacturers to use a low trans-fat substitute for butter is expected to drive the global industrial margarine market.
Stringent regulation against the commercialization and usage of industrially produced trans-fat in food products is hindering the growth of the industrial margarine market. For instance, in May 2018, the World Health Organization launched the REPLACE campaign to eliminate trans-fat from foods by 2023. This campaign leads to industrial margarine manufacturers to focus on producing new trans-fat-free margarine products which can hamper the global industrial margarine market.
The key players operating in the global market are Wilmar International Limited, Conagra Brands Inc., Puratos Group N.V., Fuji Oil Holdings Inc., Richardson International Limited, NMGK Group, Currimjee Group, EFKO Group, Upfield Ghana, Vandemoortele N.V., and others.
The all-purpose margarine segment is anticipated to dominate the global industrial margarine market, followed by spreadable and butter blends. Margarine can be utilized for various applications where butter is generally used, such as – grilling, baking, and seasoning; this factor is anticipated to drive the all-purpose industrial margarine market. Among the source, margarine extracted from plant-based sources is expected to witness significant growth due to the rising number of lactose-intolerant consumers and the growing demand for non-dairy products, especially in the developed economies.
Margarine is a healthy substitute for dairy-based fats as it is cholesterol-free; this factor will drive the demand for margarine in the bakery industry. The bakery industry is anticipated to hold a significant share in the uses of margarine in food products because of its cost-effectiveness followed by spreads and confectionery. The margarine manufacturers are focused on launching new products with innovation in taste and texture. For instance, in December 2019, Upfield Ghana, the largest consumer packaged spread company in West Africa, launched Blue Band Catering Margarine with a rich buttery flavor.
The growing food processing industry in various developing economies is expected to contribute in enlarging the demand for margarine across the industry as it is a cheaper and affordable alternative to butter that can be used for multiple applications. Furthermore, Asia Pacific is anticipated to be the fastest-growing region in the global industrial margarine market due to the rising urbanization and changing eating habits of people.
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North America is expected to witness considerable growth in the global industrial margarine market owing to the presence of a well-established food processing industry that uses margarine in the preparation of several food products. The rise in the number of margarine products launched by margarine manufacturers such as additive-free, fat-free, low-fat, and fortified margarine is expected to drive the global industrial market in North America. For instance, in September 2018, Bunge Loders Croklaan, a prominent vegetable oil manufacturer in Europe launched a new, plant-based clean label liquid margarine called Delica Pro Gold. Moreover, the growing busy lifestyle problems as obesity, diabetes, cancer, hypertension, and others are owing to the excessive application of dairy-based fats gravitating consumers to healthy replacement of dairy-based fats.
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