Market Dynamics
One of the key drivers for the growth of the margarine and shortening market is the increasing demand for healthier cooking options. There is a rising consumer awareness about the health benefits of using plant-based margarine and shortenings over butter and oils high in saturated fat. Margarine and shortenings contain no cholesterol and less saturated fat than butter, which makes them healthier alternatives. Additionally, demand is driven by the versatility that margarine and shortening products provide across a wide range of cooking applications such as baking, cooking, and spreads. The affordability of margarine and shortening relative to butter has also fueled their adoption rate globally. Moreover, the increasing demand for convenience foods amid rapidly changing lifestyles has propelled the demand for margarine and shortening from the foodservice industry. However, factors such as availability of alternatives like olive oil may hamper the industry growth in the forecast period.
Key TakeawaysÂ
The Global Margarine And Shortening Market Size is expected to witness steady growth over the forecast period supported by shifting dietary trends and populations in emerging economies. The Asia Pacific region dominates market share and is projected to be the fastest growing region through 2030 as Western diets gain popularity and incomes rise in developing nations.
Regional analysis: The Asia Pacific region accounts for more than 40% of global margarine and shortening consumption. China, India, Indonesia and other Southeast Asian countries represent large consumer bases and production hubs for major manufacturers. Increasing disposable incomes are driving demand for affordable substitutes to butter in the region. Westernized lifestyles support margarine and shortening use in baking, cooking and table spreads.
Key players: Key players operating in the margarine and shortening market are Unilever, Conagra Brands, Bunge Limited, Wilmar International Ltd., Upfield Holdings BV, Cargill, Incorporated, Archer Daniels Midland Company (ADM), Fuji Oil Co., Ltd. ,Richardson International Limited, Dairy Farmers of America, AAK AB, NMGK Group, Puratos Group, Kerry Group, Vandemoortele. Major players focus on plant-based innovations and expanding into high-growth emerging markets to strengthen market shares.
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