Margarine Market Trends: CAGR of 3.5% Forecasted Over the Next Decade

Increasing Acceptance of Veganism and Plant-based Diets Driving Up Demand for Margarine in Several Countries: Fact.MR Report

ROCKVILLE, MD, UNITED STATES, January 7, 2025 /EINPresswire.com/ -- According to a new industry report released by Fact.MR, a market research and competitive intelligence provider, the worldwide margarine market revenue is estimated to reach US$ 2.67 billion in 2024 and has been forecasted to increase at a CAGR of 3.5% from 2024 to 2034.

The increasing acceptance of plant-based diets and veganism in several countries is contributing to the margarine market growth. This is one of the reasons behind the rising demand for margarine, especially those manufactured from vegetable oils and other non-dairy ingredients. Margarine is gaining popularity as a vegan substitute for butter because it works similarly and doesn't include any animal ingredients.

Margarine is highly accepted by people who eat plant-based meals due to ethical, health, and environmental considerations. People seeking plant-based and dairy-free options are finding vegan margarines intriguing because they are free from cholesterol and lactose.

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The market is expanding in North America due to growing consumer demand for plant-based and organic goods. In addition, the increasing trend of veganism, especially in the United States, is driving market expansion in the region because of the growing usage of vegan and non-GMO margarine.

Key Takeaways from Market Study:

The global margarine market is forecasted to reach a size of US$ 3.77 billion by the end of 2034.The North American region is projected to hold 23.9% of the global market share in 2024.

By 2034, the market in the United States is analyzed to account for 45.6% market share of North America. The market in China is estimated to generate revenue worth US$ 292.5 million in 2024.The market in South Korea is evaluated to expand at a CAGR of 4.2% between 2024 and 2034.

Based on type, the all-purpose margarine segment is projected to reach a valuation of US$ 1.72 billion by 2034-end.In East Asia, revenue from margarine is forecasted to touch US$ 870.1 million by 2034.

“To attract more consumers, well-known margarine manufacturers are focusing on creating new kinds with extra health benefits including organic ingredients, omega-3 fatty acids, and substances that lower cholesterol,” says a Fact.MR analyst

High Preference for Soft Margarine Compared to Hard Ones

Sales of soft margarine are high in comparison with hard ones because of its spreadability and convenience of usage, which is making it a practical choice for daily use. When spreading on bread, toast, and other foods, soft margarine is preferred due to its smooth texture, which needs not to be melted or softened. Because it is generally promoted as a healthier alternative to butter and consumers who place a high value on keeping their fitness are finding it appealing. Demand for soft margarine is rising because of its availability and strong shelf life over butter, which make it a desirable alternative in homes.
Demand is rising as more people adopt plant-based diets and veganism.

Because plant-based diets and veganism are becoming more and more popular in many countries, the margarine business is booming. This is driving up demand for margarine, especially those prepared from vegetable oils and other non-dairy components. A common substitute for butter that works similarly and is produced without the use of any animal products is margarine.

Margarine is becoming rapidly adopted by people who choose to eat plant-based meals due to ethical, health, and environmental reasons. People searching for plant-based and dairy-free alternatives are drawn to vegan margarines that are free of lactose and cholesterol.

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Country-specific Perspectives:

Due to growing consumer demand for plant-based and organic goods, the North American region is projected to have a 23.9% global margarine market share in 2024. In addition, the growing trend of veganism, especially in the US, is propelling the market expansion in the area through the increasing use of vegan and non-GMO margarine.

In order to satisfy customer demand, more products are currently being developed to offer healthier alternatives to butter, which is driving up demand for margarine in the US. In the United States, consumers are increasingly buying margarine as a result of their desire for goods with less saturated fat.

With improved formulations and nutritious ingredients like plant sterols and omega-3 fatty acids, several firms in the nation are launching reduced saturated fat margarine. These enhancements are becoming more popular among consumers who wish to improve their nutritional profiles without sacrificing taste or functionality.

Explore More Studies Published by Fact.MR Research:

Plant Protein Ingredient Market The estimated size of the worldwide market for plant protein ingredients in 2024 is $14.19 billion USD. By the end of 2034, the global market for plant protein components is expected to be worth US$28.97 billion, growing at a compound annual growth rate (CAGR) of 7.4%.

Lactose Free Butter Market The market for lactose-free butter is expected to grow from its 2023 valuation of US$784.8 million to US$1.8 billion by 2033. Over the next ten years, the demand for lactose-free butter is expected to rise quickly at a CAGR of 9% worldwide.

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