Margarine - G20 | Statista Market Forecast

Revenue in the Margarine market amounts to US$19.85bn in 2024. The market is expected to grow annually by 6.74% (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$3.99 are generated in 2024.
In the Margarine market, volume is expected to amount to 5.61bn kg by 2029. The Margarine market is expected to show a volume growth of 3.6% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 0.96kg 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 G20 nations is witnessing minimal growth, influenced by shifting consumer preferences towards natural spreads, health consciousness, and competition from plant-based alternatives impacting demand dynamics.

Customer preferences: Consumers in G20 nations are increasingly gravitating towards natural and organic food products, leading to a decline in margarine consumption as they prioritize health and wellness. This trend is particularly pronounced among younger demographics, who are more likely to seek out plant-based and minimally processed alternatives. Additionally, cultural influences are steering preferences towards traditional spreads, such as butter, which are perceived as more authentic. The rise of veganism and flexitarian diets further compounds this shift, pushing manufacturers to innovate and adapt their product offerings.

Trends in the market: In G20 nations, the margarine market is experiencing a notable decline as consumers increasingly favor natural and organic food products, driven by health and wellness concerns. This shift is particularly evident among younger demographics, who are leaning towards plant-based and minimally processed alternatives. Furthermore, cultural preferences are reviving traditional spreads like butter, viewed as more authentic. The rise of veganism and flexitarian diets is prompting manufacturers to innovate, creating healthier, plant-based margarine options. This evolving landscape poses both challenges and opportunities for industry stakeholders, necessitating strategic adaptations to meet changing consumer demands.

Local special circumstances: In France, the margarine market is shaped by a strong preference for traditional dairy products, with butter being a staple in many households. The country's culinary heritage emphasizes the use of authentic ingredients, leading to a decline in margarine consumption. Conversely, in Germany, health-conscious consumers are increasingly turning to plant-based alternatives, spurred by stringent regulations on food labeling and a thriving vegan movement. Meanwhile, in Australia, the push for healthier lifestyles is driving innovation in low-calorie, organic margarine options, appealing to both health-focused and environmentally conscious consumers.

Underlying macroeconomic factors: The margarine market within the Oils & Fats sector is significantly influenced by macroeconomic factors such as consumer health trends, dietary shifts, and economic stability. In regions like Germany, rising health awareness and a robust vegan movement are reshaping consumer preferences, leading to increased demand for plant-based margarine options. Conversely, France’s strong attachment to traditional dairy products, particularly butter, reflects cultural culinary practices that can hinder margarine growth. Economic policies promoting sustainable agriculture and health initiatives also impact production costs and consumer choices, with nations focused on fostering innovation witnessing accelerated market expansion in healthier margarine alternatives.

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.