Margarine Market

Margarine Market Outlook (2024 to 2034)

According to a new industry report released by Fact.MR, a market research and competitive intelligence provider, the global margarine market is estimated to generate a turnover of US$ 2.67 billion in 2024 and has been forecasted to increase at a CAGR of 3.5% to touch a value of US$ 3.77 billion by 2034-end.

Margarine is consumed as an ideal ingredient in several recipes in cooking and baking due to its capacity and adaptability for offering consistent results. Its consistency in texture is contributing to increased adoption in spreading, frying, and mixing into doughs and batters. It stays hard for longer during cooking procedures compared to butter for a high melting point, which is making it increasingly useful in professional kitchens. Food service companies and bakers are opting for margarine as an attractive option for its lower prices than butter.

Several margarine manufacturers are investing aggressively in marketing activities such as advertisements, social media campaigns, and influence marketing strategies to grab the attention of a larger audience base. More companies are also promoting margarine as a heart-healthy substitute for butter to increase the sales and appeal of the products.

Key Market Growth Drivers

• A key margarine market trend is the growing popularity of veganism and plant-based diets. This trend is driving up demand for margarine, particularly one manufactured from vegetable oils and other plant-based ingredients as an alternative to butter.
• The percentage of individuals who are searching for healthier butter substitutes is increasing, as they are worried about saturated fats. These people are attracted to margarine because of its reduced saturated fat level and fortified varieties.
• Consumers are increasingly starting to choose margarine over butter in several countries because it is less expensive and low in fat.
• Key players in the margarine market are continuously coming up with innovations such as adding health advantages such as omega-3 and chemicals that lower cholesterol, or organic and non-GMO choices to gain attention from a large consumer base.
• The application of margarine is increasing in several baking and cooking items in home kitchens as well as the food manufacturing industry because of its consistency in texture.
• Margarine is becoming a common component in ready-to-eat and convenience food and this is driving up sales growth because these products demand is increasing globally.
• People who are facing problems related to lactose intolerance and dairy allergies are widely adopting margarine as a butter replacement.

Report Attribute	Detail
Margarine Market Size (2024E)	US$ 2.67 Billion
Forecasted Market Value (2034F)	US$ 3.77 Billion
Global Market Growth Rate (2024 to 2034)	3.5% CAGR
North America Market Share (2024E)	23.9%
East Asia Market Value (2024E)	US$ 598.1 Million
All-Purpose Margarine Segment Value (2034F)	US$ 1.72 Billion
Soft Margarine Segment Value (2034F)	US$ 2.01 Billion
Key Companies Profiled	Conagra Foodservice, Inc.; Bunge Loders Croklaan; Richardson Food & Ingredients; Aigremont; NMGK Group; Royale Lacroix SA; Earth Balance; BRF SA; Upfield BV; Associated British Foods; Wilmar International Ltd.; EFKO Group.

Why is Margarine Gaining Popularity Around the World?

“Growing Adoption of Plant-Based Diets and Veganism Driving Demand Growth”

The margarine market size is expanding due to the growing popularity of veganism and plant-based diets in several countries. Demand for margarine particularly made from vegetable oils and other non-dairy ingredients is increasing because of this factor. Margarine is becoming a popular alternative for butter that functions similarly and is made without using any animal products.

Individuals who prefer consuming plant-based meals for ethical, health, and environmental concerns are widely adopting margarine. Margarines that are vegan and devoid of cholesterol and lactose are appealing to individuals who are looking for plant-based and dairy-free solutions.

What are Problems Producers of Margarine are Facing?

“Competition with Famous Butter and Latest Plant-based Spreads”

New plant-based spreads and natural butter are hampering the margarine market growth. Butter is valued by several individuals particularly those who consider it to be a more traditional and healthy alternative because of its natural ingredients and minimum processing. The acceptance rate of plant-based spreads is also increasing as they are promoted by these companies as clean-label, minimally processed, and devoid of artificial ingredients. Due to these reasons and facts, the sales growth of margarine is hampered.

Country-wise Insights

The North American region is analyzed to account for 23.9% of the worldwide margarine market share in 2024 due to rising demand from consumers for plant-based and organic products. Other than this, the growing adoption of vegan and non-GMO margarine is further driving the market growth in the region due to the rising trend of veganism, particularly in the United States.

Why is the United States Becoming a Key Market for Margarine Suppliers?

“Manufacturers Introducing Margarine with Low Saturated Fat”

Attribute	United States
Market Value (2024E)	US$ 284 Million
Growth Rate (2024 to 2034)	3.9% CAGR
Projected Value (2034F)	US$ 417.4 Million

Demand for margarine is increasing in the United States as more products are now designed to provide healthier substitutes for butter to meet consumers' demand. More customers in the United States are looking for products with less saturated fat and because of this, they are increasingly purchasing margarine.

Several companies in the country are introducing less saturated fat margarine with enhanced formulas and healthy components such as plant sterols and omega-3 fatty acids. Consumers who want to enhance their nutritional profiles without compromising flavor or usefulness are finding these additions more appealing.

Why is the Utilization Rate of Margarine Growing in South Korea?

“High Emphasis and Focus on Maintaining Fitness Driving Sales Growth”

Attribute	South Korea
Market Value (2024E)	US$ 132.8 Million
Growth Rate (2024 to 2034)	4.2% CAGR
Projected Value (2034F)	US$ 201 Million

Surging emphasis on maintaining fitness in South Korea is driving up demand for margarine as a butter alternative. Consumers in South Korea who are concerned about their fitness are responding positively to margarine, which contains additional health benefits such as organic ingredients and substances that decrease cholesterol. With the high interest of individuals in organic food and heart health, these latest margarine options are becoming popular.

These products are attracting consumers looking for better and more sustainable food options by addressing certain health concerns and meeting the desire for natural and functional foods.

Category-wise Insights

Based on source, the market is segmented into soybean oil, palm oil, corn oil, sunflower oil, and canola oil. The soybean oil segment holds a significant portion of the market because it contains less saturated fat than several other forms and it is considered as a healthier option.

Why is Consumers' Preference for All-Purpose Margarine High Compared to Other Types?

“Budget Friendly Solution for Household as well as Restaurants”

Attribute	All-Purpose Margarine
Segment Value (2024E)	US$ 1.16 Billion
Growth Rate (2024 to 2034)	4% CAGR
Projected Value (2034F)	US$ 1.72 Billion

All-purpose margarine demand is all-time high compared to other options available in the market. One of the primary reasons behind this is its versatility in both cooking and baking. More household individuals and restaurant owners are choosing all-purpose margarine to replace butter in several recipes, from frying and sautéing to baking pastries. Affordability is one of the other factors that makes it a popular choice among cost-conscious customers, especially in countries where economic challenges significantly affect the buying power of an individual.

With all these drivers, all-purpose margarine has a considerable shelf life, which increases its worth in places with inconsistent refrigeration, making the sales peak compared to specialized or perishable alternatives available in the market.

Which Form of Margarine Holds a Significant Portion of the Market?

“Easy to Use and Spreadability Making it Ideal Choice for Daily Meals”

Attribute	Soft Margarine
Segment Value (2024E)	US$ 1.44 Billion
Growth Rate (2024 to 2034)	3.4% CAGR
Projected Value (2034F)	US$ 2.01 Billion

The demand for soft margarine is higher than hard type due to its ease of use and spreadability, making it a convenient option for everyday consumption. Soft margarine is demanded more for its smooth texture, which needs no softening or melting, thereby making it ideal for spreading on bread, toast, and other foods. It is often marketed as a healthier alternative to butter, which is appealing to consumers who focus highly on maintaining fitness. Its affordability and longer shelf life, compared to butter, also make it an attractive option for households, and because of this, its demand is increasing.

Competitive Landscape

Prominent margarine manufacturing companies are focusing on developing new varieties with added health benefits such as cholesterol-lowering compounds, organic ingredients, and omega-3 fatty acids to attract a larger base of consumers. Several companies are introducing premium margarine products such as those flavored uniquely or prepared with natural and high-quality ingredients to increase profit margins.

• In March 2024, Wilmar Africa, a renowned brand in the food and manufacturing industries, introduced Fortune spread and Fortune all-purpose margarine in Tema. Fortune all-purpose margarine is fortified with vitamins A and D to provide nutritional value and is used for baking, toasting, frying, and spreading as a food enhancer.

Fact.MR provides detailed information about the price points of key manufacturers of margarine positioned across the world, sales growth, production capacity, and speculative technological expansion, in this new market report.

Segmentation of Margarine Market Research

• By Type :

  • Spreadable
  • All-Purpose
  • Butter Blends

• By Form :

  • Hard
  • Soft

• By Source :

  • Soybean Oil
  • Palm Oil
  • Corn Oil
  • Sunflower Oil
  • Canola Oil

• By Nature :

  • GMO
  • Non-GMO

• By End Use :

  • Bakery Products
    • Patisserie
    • Biscuits & Cookies
    • Breads & Baked Rolls
  • Confectionery
  • Creams & Toppings
  • Table Top Margarine

• By Distribution Channel :

  • Traditional Trade
  • Modern Trade
  • Industrial
  • Food Service

• By Region :

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • East Asia
  • South Asia & Pacific
  • Middle East & Africa