Margarine - CIS | Statista Market Forecast

Revenue in the Margarine market amounts to US$1.19bn in 2024. The market is expected to grow annually by 7.09% (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$4.89 are generated in 2024.
In the Margarine market, volume is expected to amount to 254.50m kg by 2029. The Margarine market is expected to show a volume growth of 2.4% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 0.94kg 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 the CIS is witnessing minimal growth, influenced by factors such as changing consumer preferences, increased competition from butter alternatives, and economic fluctuations impacting purchasing power.

Customer preferences: Consumers in the CIS are increasingly prioritizing health and wellness, leading to a shift towards margarine products that are fortified with vitamins and made from natural ingredients. Additionally, younger demographics are gravitating towards plant-based diets, driving demand for vegan margarine alternatives. Cultural influences, such as traditional recipes incorporating healthier fats, are also reshaping preferences. Furthermore, the rise of convenience-driven lifestyles is prompting interest in ready-to-use, spreadable margarine formats that align with quick meal preparation.

Trends in the market: In the CIS region, the margarine market is experiencing a notable shift towards healthier options, with an increasing consumer preference for products enriched with vitamins and derived from natural ingredients. This trend is particularly pronounced among younger consumers who are embracing plant-based diets, thereby boosting the demand for vegan margarine alternatives. Traditional culinary practices are adapting to include healthier fats, influencing consumer choices. Additionally, the fast-paced lifestyle of modern consumers is driving the popularity of convenient, ready-to-use margarine formats, necessitating innovation and flexibility from industry stakeholders to meet these evolving demands.

Local special circumstances: In the CIS region, the margarine market is shaped by unique cultural and geographical factors that set it apart from other regions. The legacy of traditional cooking methods influences consumer preferences, with many households favoring familiar flavors and textures that align with local cuisines. Additionally, regulatory frameworks promoting healthier eating habits are encouraging manufacturers to innovate with natural, low-trans-fat formulations. The climate also plays a role, as local agriculture supports the availability of specific plant oils, enhancing the appeal of regionally sourced margarine products.

Underlying macroeconomic factors: The margarine market in the CIS region is significantly influenced by macroeconomic factors such as national economic stability, consumer spending power, and agricultural productivity. Fluctuations in global oil prices directly impact the cost of raw materials for margarine production, thereby affecting retail prices. Additionally, fiscal policies that promote healthy eating and encourage the use of local ingredients are shaping consumer preferences towards innovative, health-conscious margarine options. As disposable incomes rise, demand for premium, natural products increases, further driving market growth. Regional economic conditions and trade agreements also play a crucial role in shaping competitive dynamics and supply chain efficiencies within 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.