Butter and Margarine Market 2024, by Services, Company Profiling, Business Revenue, and Growth Opportunities to 2034
The global butter and margarine market size is set to attain US$ 4,885.40 million valuation in 2024. The butter and margarine sales indicate an upswing at a steady CAGR of 6.2% between 2024 and 2034.
The butter and margarine demand has the potential to secure
a worth of US$ 8,935.40 million by 2034. The advancing inclination towards
confectionery and bakery products among customers positively impacts the
adoption of butter and margarine.
The health benefits of margarine play an important role in
spurring the demand for margarine among health-conscious consumers, who are
looking for alternatives with lower saturated fats. Since there has been a
notable rise in lactose intolerant people, margarine is suitable for such
cases. The plant-based and dairy-free options witnessed an escalation in sales
of margarine.
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Convenient food is experiencing a rise due to people’s busy,
sedentary lifestyles and eating habits. There is a wide adoption of butter and
margarines as spreads and items for cooking prep, which makes them an essential
item in the kitchen.
The price of the raw material used in the production of
butter and margarines ever evolving. The fluctuation of the prices negatively
impacts the production costs and the profit margins of the butter and margarine
producers.
With the prosperity of e-commerce, there is a development of
a new and booming distribution channel for butter and margarine. The e-commerce
platform provides a wider and easier reach to consumers, resulting in a surge
in sales of butter and margarine.
Regional Outlook
The Asia Pacific market growth of butter and margarines has
evolved by the surging disposable income and prospering food industry.
Urbanization and shifting dietary habits escalate the demand for butter and
margarines in the Asia Pacific region.
Focus on natural and organic products is an expanding butter
and margarine market trend in Europe. Sustainability and health awareness among
customers propel the margarine market forward towards healthier alternatives.
The evolution inclined towards luxury and handcrafted
products driven by authenticity, thrust the adoption of butter and margarines
in North America.
“Shifting consumer choices and cookery trends continually
thrust the growth of the butter and margarine market.
Developing health awareness and demand for diverse cooking ingredients, advance
the market expansion of butter and margarine”, remarks an FMI analyst.
Key Takeaways
- The
spreadable butter and margarine segment in the usage category to possess a
share of 89.8% in 2024.
- In
the distribution channel category, the sales via retail channel segment to
procure a market share of 78.9% in 2024.
- The
United States butter and margarine sales equates at a sluggish CAGR of
2.2% through 2034.
- Germany
butter and margarine market indicates a moderate CAGR of 4.6% from 2024 to
2034.
- China
sales of butter and margarine show escalation at a slow CAGR of 1.1%
through 2034.
- India
butter and margarine industry imply growth a mild CAGR of 4.4% between
2024 and 2034.
- Japan
butter and margarine market reflects expansion a slow CAGR of 0.9% through
2034.
Competitive Landscape
Due to the presence of a considerable number of butter and
margarine manufacturers, the market if acutely competitive. The key vendors
hold a substantial market size, there are also several regional butter and
margarine producers giving significant growth, particularly in the Asia Pacific
region.
Cutting-edge Breakthroughs
- To
reach a wider customer base, Fuji Oil Group and ITOCHU Group partnered and
expanded their sales channel of the vegetable oil business, strengthening
the market position in North America in September 2021.
- In
March 2020, Wilmar International announced the establishment of a new
facility in South Africa for the processing of crude vegetable oil. The
plant was used to make margarine, mayonnaise, and cooking oil.
Key Segments
By Type:
- Traditional
- Liquid
- Other
By Usage:
- Spreadable
- Non-spreadable
By Distribution Channel:
- Sales
via Retail Channels
- Sales
via Industrial Channels
- Sales
via Food Service Channels
By Region:
- North
America
- Latin
America
- Europe
- Asia
Pacific
- Middle
East and Africa
Information Source:
https://www.futuremarketinsights.com/reports/butter-and-margarine-market
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