Margarine - G7 | Statista Market Forecast

Revenue in the Margarine market amounts to US$4.74bn in 2024. The market is expected to grow annually by 2.27% (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$6.09 are generated in 2024.
In the Margarine market, volume is expected to amount to 1.37bn kg by 2029. The Margarine market is expected to show a volume growth of 0.3% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 1.73kg 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 G7 nations has seen negligible growth, influenced by shifting consumer preferences towards healthier fats, increased competition from butter alternatives, and a growing focus on natural ingredients in food products.

Customer preferences: Consumers in G7 nations are increasingly prioritizing health and wellness, leading to a notable decline in margarine consumption in favor of products perceived as more natural and wholesome, such as butter and plant-based spreads. This trend is particularly pronounced among younger demographics, who are more inclined to seek transparency in ingredient sourcing and nutrition. Additionally, the growing popularity of veganism and plant-based diets has spurred interest in innovative, healthier margarine alternatives made from avocados and nuts, reflecting broader lifestyle shifts towards sustainable eating practices.

Trends in the market: In G7 nations, the margarine market is experiencing a significant shift as consumers gravitate towards healthier alternatives, leading to a decline in traditional margarine consumption. This trend is largely driven by a heightened awareness of health and wellness, particularly among younger consumers who favor natural ingredients and transparency in food sourcing. The rise of plant-based diets and veganism is further influencing the market, with innovative margarine alternatives made from avocados and nuts becoming increasingly popular. For industry stakeholders, these changes signal a need for product reformulation and diversification to meet evolving consumer preferences and capitalize on the growing demand for sustainable, health-oriented options.

Local special circumstances: In G7 nations, the margarine market is shaped by distinct local factors that influence consumer preferences and industry dynamics. In countries like Canada, the emphasis on clean-label products and organic certifications resonates with health-conscious consumers, while in Germany, stringent regulations on food labeling promote transparency, further driving demand for natural ingredients. Additionally, the cultural shift towards sustainability in the UK has led to an increase in plant-based margarine alternatives. These unique circumstances compel manufacturers to innovate and adapt to regional trends.

Underlying macroeconomic factors: The margarine market within the Oils & Fats sector in G7 nations is significantly influenced by macroeconomic factors such as consumer spending power, health trends, and regulatory frameworks. Economic stability in these countries, characterized by low unemployment rates and rising disposable incomes, allows consumers to prioritize quality and sustainability in their food choices. Additionally, global trends toward health and wellness have spurred demand for margarine products that are low in trans fats and contain natural ingredients. Fiscal policies promoting agricultural innovation also support the development of healthier margarine alternatives, while trade policies can impact ingredient sourcing, shaping market dynamics and pricing strategies in the sector.

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.