Margarine - BRICS | Statista Market Forecast

Revenue in the Margarine market amounts to US$10.16bn in 2024. The market is expected to grow annually by 8.81% (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$3.08 are generated in 2024.
In the Margarine market, volume is expected to amount to 2.87bn kg by 2029. The Margarine market is expected to show a volume growth of 6.2% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 0.67kg 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.

For more information on the displayed data, click the info button on the right side of each box.

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 BRICS is experiencing subdued growth, influenced by shifting consumer preferences towards healthier options and the rising demand for natural ingredients, which challenge traditional margarine consumption patterns.

Customer preferences: Consumers in the BRICS nations are increasingly prioritizing health and wellness, leading to a notable shift towards plant-based and natural spreads over traditional margarine. This trend is influenced by a growing awareness of the negative health implications associated with trans fats and artificial ingredients. Additionally, younger demographics, particularly millennials and Gen Z, are more inclined to support brands that emphasize sustainability and ethical sourcing. As a result, manufacturers are adapting by reformulating products to align with these preferences, incorporating organic and non-GMO ingredients to capture this health-conscious market.

Trends in the market: In the BRICS nations, the margarine market is experiencing a shift towards plant-based alternatives, driven by heightened consumer awareness of health and wellness. This trend is particularly pronounced among younger generations, who prefer natural spreads free from trans fats and artificial additives. Manufacturers are responding by reformulating products to include organic, non-GMO ingredients, aligning with the sustainability values of their customers. This transformation not only meets evolving consumer demands but also presents opportunities for industry stakeholders to innovate and differentiate their offerings in a competitive landscape.

Local special circumstances: In Brazil, the margarine market is influenced by a strong culinary tradition that values rich flavors and local ingredients, driving demand for products that complement traditional dishes. The country's diverse agricultural base supports the use of native oils, such as palm and soybean, in margarine formulations. In Russia, regulatory changes aimed at reducing unhealthy fats are reshaping product offerings, pushing manufacturers to create healthier alternatives. Additionally, cultural preferences for buttery spreads encourage innovation in flavor profiles, catering to local tastes while promoting health-conscious options.

Underlying macroeconomic factors: The margarine market within the oils and fats sector is significantly shaped by macroeconomic factors such as consumer trends, economic growth, and changing dietary preferences. In emerging BRICS economies, rising disposable incomes and urbanization are boosting demand for convenience foods, including margarine. Additionally, national policies promoting health and nutrition are encouraging manufacturers to innovate with healthier formulations. Fluctuations in agricultural productivity, influenced by climate change and trade dynamics, affect the availability and pricing of key ingredients like palm and soybean oil, thereby impacting market stability and growth potential.

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.