Industrial Margarine Market to Witness an Outstanding Growth by 2028
Industrial margarine is a non-dairy product. Industrial margarine is used as a substitute for butter, but the properties and taste vary a lot. Butter is made up of butterfat, water and proteins whereas Industrial margarine consist of refined vegetable oil, sometimes animal fat. Both are used in cooking, baking or as spreads in various dishes to enrich its taste and The key drivers of global Industrial margarine market are higher consumption of Industrial margarine in underdeveloped countries because of greater value for money and multiple usages. Margarine market is growing in developed regions with a lot of product innovation and growing food service industry. Other drivers that fuel global Industrial margarine market are changing customer habits. The major restraining factors for Industrial margarine market could be government regulations on manufacturing and marketing of such products (licensing, labeling among others), substitute products available in the Industrial margarine market is among others. Rising health concerns and growing obesity are other potential restraining factors.
Demand for Industrial margarine is increasing due to the rising preference of consumers for natural products such as Industrial margarine. However, demand for Industrial margarine is less in comparison to butter as Industrial margarine consists of additives. Decreasing price difference between butter and Industrial margarine and increasing home-baking trend drives the demand for the market. There is rising trend of natural food consumption due to the shift in consumer preference for processed foods. In Industrial margarine market, there is rising trend of adding salt. There is increasing demand for Industrial margarine owing to the growing food television culture that emphasizes the benefits of Industrial margarine consumption. BakeMark UK launched baking fats that are used in cakes and pastries. Baking fat consists of Industrial margarine. Several Industrial margarine companies promoted their products by emphasizing that their products lack trans-fat.
Some of the few players identified in the global Industrial Margarine market include ConAgra (US), Bunge (Germany), Puratos (Belgium), Associated British Foods (US), Fuji Oil (Japan), Richardson International (Italy), Royale Lacroix (Belgium), Aigremont (Belgium), Vandemoortele (Belgium), NMGK Group (Russia), EFCO Group (Russia), and Wilmar International (Singapore).
The Industrial Margarine market is anticipated to be positively influenced by evolving consumer preferences, and increasing number of Margarine product variants. Catering the growing demand for cake or bakery products containing several health benefits is one of the key supply-side driver supporting the market growth. Industrial Margarine containing natural ingredients coupled lower product penetration level in developing economies is generating opportunities for both large scale and small scale manufacturers across the globe.
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