Global Plant-Based Margarine Market – Industry Trends and Forecast to 2029

Plant-Based Margarine Market Analysis and Size

Manufacturers are under pressure to develop appropriate solutions to cater to the market and satisfy consumer needs as consumers around the world demand clean labels and sustainable products. Newly developed margarine products with non-GMO, allergen-free, and other beneficial claims are thus expected to drive the plant-based margarine market in the near future.

Data Bridge Market Research analyses that the plant-based margarine market was valued at 3.3 billion in 2021 is expected to reach the value of USD 6.34 billion by 2029, at aw CAGR of 8.50% during the forecast period. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Plant-Based Margarine Market Scope and Segmentation

Market Definition

Margarine is a non-dairy substitute for butter that has a similar appearance, consistency, flavour, and nutritional value. It is made by combining various refined vegetable oils, such as corn, palm, canola, and soybean. Margarine is a good source of essential fat-soluble nutrients that help keep blood cholesterol levels low and reduce the risk of cardiovascular disease. It is widely available in a variety of forms, including sticks, cubes, tubs, liquid, spray, and blocks. Margarine is widely used in bakeries, confectioneries, and home cooking.

Plant-Based Margarine Market Dynamics

Drivers

• Rising consumer health concerns about the negative impact of saturated fats

Rising consumer health concerns about the negative impact of saturated fats have resulted in a shift from butter to plant-based margarine. Furthermore, the high prevalence of lactose intolerance disorders and growing awareness of margarine's dairy-free content drive product demand. In line with this, the growing popularity of vegan trends and changing consumer dietary habits are driving the plant-based margarine market.

• Growing consumer awareness of clean-label and sustainable products

Growing consumer awareness of clean-label and sustainable products has resulted in the development of non-GMO, allergen-free, and naturally-sourced margarine. Several manufacturers are introducing organic and low-calorie margarine variants made from healthier vegetable oils like olive oil, palm oil, corn oil, and so on. This is expected to drive the global margarine market over the forecasted period.

Opportunity

One of the primary reasons is the growing number of consumers who suffer from health issues such as lactose intolerance. This has encouraged them to choose plant-based products such as plant-based margarine. Furthermore, plant-based margarine manufacturers are introducing novel variations in terms of base, type, and flavour. This results in a wide range of product offerings for consumers, which influences their purchasing behaviour. As a result, consumers are gravitating toward plant-based margarine.

Restraints

Lack of awareness about the benefits and availability of products, as well as their negative impact on the human body, are acting as market restraints for the growth of the plant-based margarine market during the forecast period.

This plant-based margarine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the plant-based margarine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

COVID-19 Impact on Plant-Based Margarine Market

The corona virus has spread throughout the world, and most countries are implementing lockdown measures to control the virus's spread in order to protect public health. Except for the food and medical sectors, all business and production activities have been completely halted, resulting in an economic crisis in the country. Manufacturing and production functions have been halted, slowing the business, and inactive trade and transportation have completely disrupted the supply chain, causing companies to face significant losses in the near future.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Global Plant-Based Margarine Market Scope

The plant-based margarine market is segmented on the basis of product type, application, sales channel, usages, and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product type

• Hard Margarine
• Soft Margarine
• Liquid Margarine

Application

• Beverages
• Convenience Food
• Sauces
• Dressings and Condiments
• Bakery and Confectionery
• Dairy Products
• Others

Sales channel

• Direct to Customer Channel
• Modern Trade Channel (Supermarket/Hypermarket)
• Convenience Store
• Specialty Store
• E-Retailers (Third Party Online Channel)

Usages

• Spreadable
• Non-Spreadable

End use

• Commercial
• Households

Plant-Based Margarine Market Regional Analysis/Insights

The plant-based margarine market is analysed and market size insights and trends are provided by country, product type, application, sales channel, usages, and end-user as referenced above.

The countries covered in the plant-based margarine market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the plant-based margarine market due to rising consumer preferences for natural as well as flavoured plant-based margarine.

 Asia-Pacific is expected to grow from 2022 to 2029 due to the region's improved distribution channels.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Plant-Based Margarine Market Share Analysis

The plant-based margarine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to plant-based margarine market.

Some of the major players operating in the plant-based margarine market are:

• Unilever (U.K.)
• Puratos (Belgium)
• Wilmar International Ltd (Singapore)
• Bunge Limited (U.S.)
• Dairy Crest Limited (U.K.)
• FUJI OIL HOLDINGS INC. (Japan)
• Richardson International Limited (Canada)
• LASENOR EMUL, S.L. (Spain)
• NMGK Group (Russia)
• Currimjee Vandemoortele (Belgium)
• EFKO Group (Austria)
• Sime Darby Oils Zwijndrecht Refinery B.V. (Netherlands)
• Muez-Hest India Private Limited. (India)
• Walter Rau Lebensmittelwerke GmbH (Germany)
• Conagra Brands, Inc. (U.S.)
• Silverson (U.S.)
• Bonanza Megah (Indonesia)
• Cardowan Creameries Limited (U.K.)

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