Margarine Market Drivers | Global Demand and Revenue | Forecast To 2023
Changing dietary habits and lifestyles owing to shift in the customer's preference toward natural products are expected to drive the margarine market. In addition, introduction to innovative margarine ranges into the market is anticipated to grow high in the future.
(firmenpresse) - The worldwide margarine market is projected to exhibit healthy CAGR during the forecast period. Margarine is a form of “spread” used in cooking, baking. Margarine includes vegetable oils obtained from sunflower or soya bean and Trans fats. Changing dietary habits and lifestyles owing to shift in the customer's preference toward natural products are expected to drive the margarine market. In addition, introduction to innovative margarine ranges into the market is anticipated to grow high in the future. The demand is also propelled by fact the margarine is a low-cost substitute to butter. However, risk of obesity and availability of other substitutes for margarine is likely hamper the market growth in the forecast period.
In 2017, Unilever, a British-Dutch transnational consumer goods company, announced to put up its margarine business on sale for USD 7.4 billion. One month later it denied a takeover offer of USD 143 billion from Kraft Heinz. Unilever’s decision to get out of margarine business came after the sales declined; thanks to resurgence of butter. The matter is still a damp squib.
In 2016, Becel® original, Becel® with Olive Oil, Becel® Vegan, and Becel® Buttery Taste, do not contain any artificial additives, colors, and flavors. Blend Bar by Becel® is an interactive and unique product that is non-hydrogenated, and soft margarine.
North America is one of the prominent regions and will continue to account for a large share in the margarine throughout the forecast period, owing to high consumption in food processing. The Canada and USA are the major consumers in North America. Leading players operating in the margarine market include Bunge, Conagra Brands, DAIRY CREST, NMGK GROUP, Unilever, Cargill, China Agri-Industries Holdings, Grupo Lala, Zydus Wellness, FUJI OIL, Uni-President, YILDIZ HOLDING, and Wilmar International. The top companies are involved in mergers and partnerships, acquisitions, and joint ventures in order to increase the inorganic growth of the industry.
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