PUNE, India, December 6, 2017 /PRNewswire/ --
The report "Industrial Margarine Market by Type (Spreadable, All Purpose, and Butter Blend), Application (Bakery, Confectionery, Convenience Food, Sauces, and Spreads & Toppings), Form (Hard and Soft), Source (Plant and Animal), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is estimated at USD 2.25 Billion in 2017 and is projected to reach a value of USD 2.66 Billion by 2022, at a CAGR of 3.5% from 2017 to 2022.
Browse 80 market data Tables, 34 Figures spread through 118 Pages and in-depth TOC on "Industrial Margarine Market"
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The market is driven by factors such as increasing consumption of margarine and changing tastes and preferences of consumers in developing markets. The major players in the food industry are investing in research & development activities to expand their margarine product portfolio and attract more consumers by providing innovative products at lower prices.
The bakery segment accounted for the largest share of the Industrial Margarine Market, by application, in 2016.
On the basis of application, the bakery application accounted for the largest share of the Industrial Margarine Market in 2016, followed by the confectionery industry. Bakery products such as cakes and pastries call for substitutes for butter and oil among consumers who demand low-fat and low-calorie food products. Manufacturers of bakery products are targeting consumers with low-calorie products to boost sales in a stagnant and matured market. This is currently one of the key trends in the global bakery market, subsequently driving the growth of the Industrial Margarine Market.
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All-purpose margarine accounted for the largest market share in 2016.
On the basis of type, the all-purpose segment accounted for the largest market share in 2016. All-purpose margarine is the most widely used among other types of margarine owing to its use in a higher number of applications.
Hard form of margarine accounted for the largest market share in 2016.
On the basis of form, the hard form of margarine accounted for a larger market share, followed by the soft form. An advantage of block margarine is that the addition of functional ingredients and flavors in food products can be carried out easily; this is one of the major drivers for the market for hard margarine.
Plant-sourced margarine accounted for the largest market share in 2016.
On the basis of source, margarine sourced from plants accounted for a larger market share, followed by margarine sourced from animals. Margarine from plant sources is preferred over animal sources, as it contains fewer calories and lower fat content.
North America dominated the Industrial Margarine Market in 2016.
The North American region was the largest market for industrial margarine in 2016. The market is characterized by the presence of large-scale industrial margarine manufacturers such as Conagra (US) and Bunge Limited (US). The increasing number of new modified margarine product launches by margarine manufacturers such low-fat or fat-free spreads and fortified margarine with milk containing vitamin D act as catalysts for the growth in demand for industrial margarine.
This report includes a study of marketing and development strategies, along with the product portfolios of the leading companies. It includes profiles of leading companies such as Congara (US), Bunge (Germany), Puratos (Belgium), Associated British Foods (US), Fuij Oil (Japan), Richardson International (Italy), Royale Lacroix (Belgium), Aigremont (Belgium), Vandemoortele (Belgium), NMGK Group (Russia), EFCO Group (Russia), and Wilmar International (Singapore).
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