The global industrial margarine market size is expected to gain impetus from the high demand for healthy processed food items and various types of bakery products. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Industrial Margarine Market, 2019-2026.” The report further mentions that industrial margarine has several beneficial properties. It gives a smooth texture and brings richness in the taste of food products. Therefore, its usage is surging for seasoning, cooking, and baking applications. In February 2019, for instance, NatureFresh Professional introduced a new line of margarines, comprising three brands, namely, Genius, Master, and Champion. It aims to provide technical expertise to bakers in Kerala regarding the novel application in baking.
The outbreak of the COVID-19 pandemic has resulted in self-quarantine and work from home practices globally. Hence, people are choosing online channels to buy food, beverages, and essential goods. With changing human interaction and surging technological advancements, web surfing and online shopping for food & beverage products is likely to increase amid the COVID-19 pandemic.
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On the basis of type, the market is trifurcated into butter blends, all-purpose, and spreadable. By source, it is bifurcated into animals and plants. In terms of application, it is divided into confectionery, spreads, sauces, & toppings, bakery, and others.
The report delivers an elaborate assessment of numerous customers’ journeys related to the market, regions, and segments. At the same time, it provides multiple customer impressions and their usage. The analysis takes a closer look at their fears and pain points across various customer touch points. The business intelligence and consultation solutions would aid interested stakeholders, such as chief experience officers to define customer experience maps catered to their requirements. They can refine customer experience and engagement with their own brands.
Drivers & Restraints-
High Demand for Low-trans Fat Substitutes for Butter to Aid Growth
The increasing adoption of vegan and vegetarian diets among people worldwide is set to bolster the industrial margarine market growth in the near future. Also, the rapid inclination towards plant-based food and beverages in developed and developing countries would propel growth. Nowadays, the demand for natural and fat-free baked food products is increasing because of the rising awareness of healthy lifestyles. Besides, the trend of healthy snacking is expected to encourage manufacturers to manufacture low trans-fat substitutes for butter. However, the production process of industrial margarine is governed by certain strict norms. It may obstruct growth.
Fortune Business Insights™ says Changing Eating Habits to Spur Demand in Asia Pacific
- Asia Pacific: It is anticipated to be the fastest-growing region throughout the forthcoming years because of the expansion of the food processing industry in developing countries. Also, the rapidly changing eating habits and urbanization would spur the demand for industrial margarine in this region.
- North America: The increasing launch of unique products, such as fortified, low-fat, fat-free, and additive-free industrial margarines by companies operating in this region is expected to boost growth.
- Europe: The region is likely to grow steadily on account of the increasing prevalence of various ailments, such as hypertension, obesity, cancer, and diabetes. Coupled with this, the rising shift of consumers towards replacement of dairy-based fats would augment growth.
Key Players Focus on Introducing State-of-the-art Industrial Margarines to Fulfil High Demand
The global market for industrial margarines houses numerous manufacturers that are currently focusing on launching a wide range of innovative products to cater to the high consumer demand worldwide. Below are the two latest industry developments:
- July 2020: Flora, a leading brand of buttery spread launched its new vegan block butter. It is available in unsalted and salted variants. It is made of palm, rapeseed, and sunflower oil. The company aims to provide an alternative to dairy butter.
- November 2019: Upfield Group, a producer of plant-based spreads, announced the comeback of its Blue Band margarine to the U.K. after 15 years. The spread will be highly versatile for cooking and baking. It will be priced at USD 1.14.
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