Global Margarine Market 2017-2021
Margarine is a non-dairy product that was introduced as a substitute for butter. The major ingredients used in manufacturing margarine are vegetable oils and water. Margarine is produced by the emulsification of vegetable oil and water, which is further processed to achieve the perfect texture. The market includes both regular margarine and low-fat margarine. There is an increase in the demand for low-fat margarine because of the growing focus on health.
Technavio’s analysts forecast the global margarine market to grow at a CAGR of 3.63% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global margarine market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Margarine Market 2017-2021
Technavio recognizes the following companies as the key players in the global margarine market: Bunge, Conagra Brands, DAIRY CREST, NMGK GROUP, and Unilever.
Other Prominent Vendors in the market are: brf, Cargill, China Agri-Industries Holdings, FUJI OIL, Grupo Lala, Uni-President, Wilmar International, YILDIZ HOLDING, and Zydus Wellness.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Demand for trans-fat-free margarine. Owing to the presence of trans fats in margarine, the sales of margarine were significantly affected between the 1990s and early 2000. This was because of the awareness among consumers about the adverse effects of trans fats. Thus, consumers started preferring butter over margarine, though it contains a large amount of fats and calories. Vendors have now come up with margarine with no trans fats or with trans fats under permissible limits. For instance, Unilever brand Bacel sells margarine with no trans fats. Owing to the low-fat content, these healthy variants of margarine are now in demand among customers.”
According to the report, one of the major drivers for this market is Margarine is a low-cost alternative to butter. The search for a low-cost alternative to butter led to the introduction of margarine. Margarine is preferred over butter in developing and underdeveloped nations. It not only can be used as a spread but also can be used for baking, confectionery, and cooking purposes. The low price of margarine has led to its increased applications in food processing industries, which earlier used only butter. The use of margarine has significantly brought down production costs in these industries, thus reducing the overall cost of end products.
Further, the report states that one of the major factors hindering the growth of this market is Competition from substitutes. Earlier, margarine was preferred over butter because it is inexpensive and has low cholesterol content. However, it is no more considered healthy because of the presence of several additives and trans fats. The growing concerns about the presence of trans fats in margarine have led to an increase in the launch of substitute products with low amounts of trans fats.
Bunge, Conagra Brands, DAIRY CREST, NMGK GROUP, Unilever, brf, Cargill, China Agri-Industries Holdings, FUJI OIL, Grupo Lala, Uni-President, Wilmar International, YILDIZ HOLDING, and Zydus Wellness.
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