Vegan Margarine Market to Reach USD 1,307.1 Million at a CAGR of 3.2% by 2032 | Future Market Outlook
Vegan Margarine Demand Will Rise Rapidly Over Decade: Future Market Outlook Report
/EIN News/ — NEWARK, Del, May 30, 2022 (GLOBE NEWSWIRE) — According to a recent report from Future Market Insights, a market research and competitive intelligence provider, sales of Vegan margarine are expected to reach a value of USD 1,307.1 million by 2032, growing at a CAGR of 3.2% over the decade.
The growing demand for vegan products in both developed and developing countries has a great influence on the global vegan margarine market. As people become more and more health conscious across the world, there is a growing desire for healthier foods.
Animal fats have been phased out of margarine and spreads in favor of vegetable oils. Their popularity has risen and fallen due to butter shortages, low cost, health concerns over animal and trans fats, and consumer interest in palm oil and vegetarianism.
Some of the factors that are likely to accelerate the growth of the plant-based margarine market include increased use of confectionery as a dessert, availability of products for lactose intolerant people, lifestyle changes combined with increasing disposable income and an increase in the number of small bakeries and artisan bakeries.
This trend should continue and spread to all developed regions in the years to come. Despite conventional being the most popular source in terms of units consumed, the organic category is expected to grow at a rapid rate in terms of revenue throughout the forecast period.
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Key insights from market research
- North America is expected to hold 38% vegan margarine market share.
- The United States holds 65% of the vegan margarine market in the North American market.
- Europe is expected to hold a 31% vegan margarine market share.
- Germany has a 22% market share of vegan margarine in the European market.
- Asia is expected to hold 20% vegan margarine market share.
- China has a 32% market share of vegan margarine in the Asian market.
- Market players are experimenting with new ways to increase production capacity and also doing research and innovation to create products.
“ The increasing focus on the consumption of vegan food products in developed regions such as Europe and North America is likely to open up lucrative opportunities for market players in the long run”, –says senior analyst at Future Market Insights.
Vegan margarine has a highly competitive global market. To stay ahead and outperform their competitors, companies are using innovative methods such as expanding their global customer base and using various advertising approaches.
They focus on increasing production capacity and also do research and innovation to create new products.
Some of the major companies offering vegan margarine are NMGK Group, ConAgra, Zydus Cadila, Unilever, Sunnyfoods, Cargill, COFCO, BRF, Bunge, Wilmar-International, NamChow, Uni-President, Fuji Oil, Yildiz Holding, Grupo Lala, Brightdairy, Dairy Crest, Mengniu Group, Yili Group, Others
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Get more valuable insights
Future Market Insights, in its new offering, provides an unbiased vegan margarine analysis showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2032.
The study discloses compelling information on the type of vegan margarine product (hard margarine, soft margarine, liquid margarine), application (beverages, ready meals, sauces, dressings and condiments, bakery and confectionery, dairy products, others), sales channel (direct to customer channel, modern shopping channel (supermarket/hypermarket), convenience store, specialty store, online retailers (third-party online channel), uses (distributable, non-distributable) , end user (commercial, domestic) and region for 2022 – 2032 and in seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, APEJ and MEA).
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
3. Market context
3.1. Market dynamics
3.2. Scenario forecast
3.2.1. Demand in the optimistic scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in the conservative scenario
3.3. Product launches and recent developments
3.4. Product life cycle analysis
3.5. Value chain analysis
3.5.1. Supply-side participants and their roles
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Future Market Outlook (ESOMAR-certified market research organization and member of the Greater New York Chamber of Commerce) provides in-depth insights into the driving factors that increase demand in the market. It reveals opportunities that will drive market growth in various segments on the basis of source, application, sales channel, and end-use over the next 10 years.
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