Global Butter And Margarine Market to Grow Fast till 2023 Driven by High Margarine Consumption
The global butter and margarine market is poised to be in a better position in the next eight years. Market analysts expect that the increased consumption of margarine will lead to the steady growth of the global butter and margarine market from 2015 to 2023.
The global butter and margarine market has seen a major transformation in the first half of 2015. Margarine, which is used as a perfect alternative to butter, is preferred by people across the globe. Though the properties of margarine differ from that of butter, it has been in demand since the past few years. While butter is made up of proteins, butterfat, and water, margarine consists of refined vegetable oil. For cooking and baking, margarine is becoming the favorite choice amongst many people across the globe as it is perceived to be less fatty than butter.
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Margarine Driving Global Butter and Margarine Market
Margarine has clearly been the driving factor for the global butter and margarine market. A fast-growing food industry has helped the global butter and margarine market to grow further. Product innovation from across all Asia Pacific regions is another important factor that has driven the market. The global butter and margarine market is especially strong in countries such as Asia Pacific, U.K., North America, and Latin America. Changing consumer habits from across all these regions has resulted in the growth of the global butter and margarine market.
According to recent report, China leads the Asia Pacific market for butter and margarine. There have been drastic changes in consumer preferences. People now prefer natural food over processed food. As margarine is prepared from natural vegetable oil, it has been globally accepted and preferred over butter. The global butter and margarine market has also been driven by increasing home baking trends.
Products with Natural Ingredients Present Massive Opportunity in Butter and Margarine Market
Obesity is emerging as a major problem in several countries. As obesity leads to many health issues, people have become health conscious. In the backdrop of rising obesity rates, the demand for butter and margarine has reduced in most of the developed countries. Health awareness programs spread across all regions have made people realize the importance of healthy living. To support the health management programs, governments have placed many regulations on the consumption of butter and margarine. Companies in the global butter and margarine market are coming up with natural-extract products to beat the market restraints. With ingredients such as natural vegetable oil, the global butter and margarine market is set to grow during the forecast period.
The global butter and margarine market, according to usage, is segmented into two types, namely spreadable and non-spreadable market. On the basis of products, the global butter and margarine market is categorized into cream butter, whipped, uncultured butter, liquid margarines, cultured butter, and butter margarines.
The global butter and margarine market is dominated by small companies that introduce health products to match the needs of health conscious people. Farmers Co-operative Creamery, Kraft Foods, Amul India, Friesland Campina, Deam Foods Company, and Arla Foods are some of the players that operate in the global butter and margarine market.
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