Global Margarine Market
The global margarine market is estimated at USD 2.33 billion in 2015. Demand for margarine products as an alternative to natural butter is rising, more so due to the increasing use in the food industry. Margarine products are adopted rapidly in developing and developed countries. Currently, margarine market is larger than the butter market, with 18 major margarine producers holding the largest share of the global market. The market value is expected to reach USD 3.5 billion by 2023, at a CAGR of 3.8%.
Unilever has planned to sell its margarine business for USD 7.4 billion one month after it rejected a USD 143 billion takeover bid from Kraft Heinz.
With Unilever’s exit from the margarine business, Country Crock and “I Can't Believe It's Not Butter” are seeking to sell the Margarine's brands.
Becel® Original, Becel® Buttery Taste, Becel® with Olive Oil, and Becel® Vegan are now free from artificial preservatives, flavours and colours and have the same great taste your family loves. Blend Bar by Becel® is a unique and interactive product that is soft, non-hydrogenated margarine.
The global margarine industry is largely driven by the changing lifestyles and dietary habits, due to a shift in the consumer preference towards natural products. The demand is also driven by the fact that margarine is a cheaper alternative to butter.Availability of other alternatives for margarine and health-related concerns of fat consumption may restrain the growth of the otherwise consistently growing industry. An increasing use of margarine in the food industry and the introduction of innovative margarine varieties into the market are expected to provide future growth opportunities.
The global margarine market can be broadly segmented into three major segments that include the product type, usage, and geography. By the product type, margarine can be classified into butter margarine, liquid margarine, and others. The butter margarine segment has the highest demand, followed by liquid margarine. By usage, the market is segmented into spreadable and non-spreadable margarine.
The global margarine market is dominated by North America, which holds 29% of the total market share. It is followed by Europe (XX %), Asia-Pacific (XX %), South America (XX %), and Africa (XX %). North America is the largest consumer of margarine, especially due to the high consumption in food processing. The USA and Canada are the largest consumers in North America. Europe is the second largest consumer of margarine.Developing regions, such as Asia-Pacific and South America, are constantly growing at a high rate of consumption. China and India are the largest producers and consumers of margarine, in the Asia-Pacific region.
Immense competition exists in the global margarine market due to two reasons – firstly, butter, natural fat, and other alternatives eating into the market share of margarine and secondly, high market concentration. Only 18 major companies hold most of the market share.The market entry for new players is difficult because of barriers created by global leaders and the presence of alternatives in the same food category in the market. New product launches, innovative flavors, and mergers and acquisitions with local players have been strong business strategies for market growth.
The major players in this market include -
China Agri-Industries Holdings
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