Margarine - APAC | Statista Market Forecast

Revenue in the Margarine market amounts to US$11.36bn in 2024. The market is expected to grow annually by 8.23% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$5bn in 2024).
In relation to total population figures, per person revenues of US$2.65 are generated in 2024.
In the Margarine market, volume is expected to amount to 3.10bn kg by 2029. The Margarine market is expected to show a volume growth of 5.6% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 0.56kg in 2024.

Definition:

Margarine is a butter substitute made from vegetable oils and contains a minimum of 80% fat. Margarine is typically less expensive and has less saturated fat than butter.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

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Regular margarine
Light or reduced-fat margarine
Soft margarine
Non-hydrogenated margarine
Cholesterol-free margarine
Vanaspati

Butter
Vegetable oils
Animal fats (e.g. lard)
Peanut butter
Out-of-home consumption

The Margarine Market within the Oils & Fats sector in APAC is experiencing minimal growth, influenced by shifting consumer preferences towards healthier fats, competition from butter, and the rising demand for plant-based alternatives in the region's food industry.

Customer preferences: Consumers in the APAC region are increasingly prioritizing health and wellness, leading to a notable shift towards plant-based and natural ingredients in their diets. This trend is fueled by a growing awareness of the health implications of trans fats and a cultural preference for traditional, wholesome foods. Additionally, younger demographics are more inclined to explore alternative spreads that align with their sustainable lifestyles, further diminishing the appeal of conventional margarine. The rise in veganism and vegetarianism also drives the demand for innovative, plant-based margarine options that cater to diverse dietary preferences.

Trends in the market: In the APAC region, the margarine market within the oils and fats sector is experiencing a significant shift towards plant-based alternatives, driven by an increasing consumer focus on health and wellness. Countries such as Japan and India are seeing a rise in demand for margarine made from natural ingredients, reflecting a cultural shift away from traditional spreads high in trans fats. Moreover, younger consumers are actively seeking vegan and vegetarian options, pushing manufacturers to innovate with diverse, sustainable margarine products. This trend not only highlights changing dietary preferences but also presents opportunities for industry stakeholders to develop healthier offerings that meet evolving consumer expectations.

Local special circumstances: In Japan, the margarine market is influenced by a strong cultural appreciation for health and wellness, with consumers increasingly favoring spreads that align with traditional Japanese dietary practices. This has led to a focus on natural, plant-based ingredients in margarine products, reflecting the country’s emphasis on purity and quality. In contrast, Australia’s regulatory environment supports clean label initiatives, encouraging manufacturers to produce margarine with minimal additives, catering to a health-conscious demographic that prioritizes transparency in food sourcing and production.

Underlying macroeconomic factors: The margarine market within the Oils & Fats segment of The Food market in the APAC region is significantly influenced by macroeconomic factors such as consumer spending power, health trends, and regulatory frameworks. In countries like Japan, a strong emphasis on health and wellness drives demand for high-quality, natural margarine products, aligning with shifting consumer preferences towards healthier lifestyles. Conversely, Australia's robust regulatory support for clean label products fosters transparency, encouraging manufacturers to focus on quality and minimal additives. Furthermore, global economic trends, including fluctuations in raw material prices and trade policies, also impact production costs and pricing strategies, ultimately shaping market dynamics in the region.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).

Modeling approach:

Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.