Margarine - Bulgaria | Statista Market Forecast

Revenue in the Margarine market amounts to US$42.11m in 2024. The market is expected to grow annually by 7.74% (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$6.36 are generated in 2024.
In the Margarine market, volume is expected to amount to 11.13m kg by 2029. The Margarine market is expected to show a volume growth of 6.4% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 1.29kg 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 in Bulgaria has seen minimal growth, influenced by factors such as shifting consumer preferences towards healthier fats, increased competition from butter alternatives, and economic constraints affecting purchasing decisions.

Customer preferences: Consumers in Bulgaria are increasingly prioritizing health-conscious choices, leading to a decline in traditional margarine consumption as they opt for natural fats and oils perceived as healthier. There is a growing interest in plant-based products, reflecting a shift towards vegetarian and vegan diets among younger demographics. Additionally, rising awareness of food labels and ingredient transparency is prompting consumers to scrutinize margarine options, favoring those with clean, recognizable ingredients. This trend underscores a broader cultural movement towards wellness and sustainability.

Trends in the market: In Bulgaria, the margarine market is experiencing a notable shift as consumers increasingly favor natural fats and oils over traditional margarine due to health-conscious choices. The rise of plant-based diets, particularly among younger demographics, is driving demand for margarine alternatives that align with vegetarian and vegan lifestyles. Additionally, heightened awareness of food labels is encouraging consumers to seek products with clean, recognizable ingredients. This trend signifies a broader movement towards wellness and sustainability, posing both challenges and opportunities for industry stakeholders to innovate and adapt their product offerings to meet evolving consumer preferences.

Local special circumstances: In Bulgaria, the margarine market is shaped by unique local factors, including a deep-rooted culinary tradition that values natural ingredients and home-cooked meals. This cultural emphasis on health and authenticity has led consumers to question the use of processed fats. Moreover, Bulgaria's agricultural landscape, rich in diverse plant oils, supports a growing interest in locally sourced, organic alternatives. Additionally, EU regulations on food labeling and quality standards drive transparency, further influencing consumer preferences towards healthier, recognizable margarine options that align with their values.

Underlying macroeconomic factors: The margarine market in Bulgaria is influenced by macroeconomic factors such as the overall economic stability, consumer purchasing power, and trends in health and wellness. As the national economy exhibits moderate growth, disposable income levels are rising, enabling consumers to prioritize quality over price. Additionally, global trends towards healthier eating and sustainability are prompting local producers to innovate with organic and plant-based margarine options. Fiscal policies that support agricultural development also enhance the availability of local ingredients, while EU trade policies facilitate access to diverse raw materials, further shaping consumer preferences in the market.

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.