Margarine - Guyana | Statista Market Forecast

Revenue in the Margarine market amounts to US$10.06m in 2024. The market is expected to grow annually by 4.41% (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$12.28 are generated in 2024.
In the Margarine market, volume is expected to amount to 2.32m kg by 2029. The Margarine market is expected to show a volume growth of 0.4% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 2.75kg 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 Guyana is experiencing negligible growth, influenced by factors such as limited consumer awareness, competition from traditional butter, and shifting dietary preferences towards healthier fats.

Customer preferences: In Guyana, there is a noticeable shift in consumer preferences towards plant-based and healthier alternatives, impacting the Margarine Market within the Oils & Fats sector. As younger generations become more health-conscious, they are increasingly opting for margarine products fortified with omega-3 fatty acids and natural ingredients, reflecting a growing awareness of nutrition. Additionally, the rise of veganism and vegetarianism in urban areas is driving demand for dairy-free spreads, while traditional cooking practices are evolving to incorporate these alternatives, signaling a cultural shift towards modern dietary choices.

Trends in the market: In Guyana, the Margarine Market within the Oils & Fats sector is experiencing a significant transformation as consumers gravitate towards healthier, plant-based options. This trend is driven by an increased awareness of nutrition and wellness among younger generations, leading to a preference for margarine products enriched with omega-3 fatty acids and natural ingredients. The rise of veganism and vegetarianism in urban areas is further amplifying demand for dairy-free alternatives. As traditional cooking methods adapt to these modern choices, industry stakeholders must innovate to meet evolving consumer preferences, ensuring product offerings align with health trends and dietary shifts.

Local special circumstances: In Guyana, the Margarine Market within the Oils & Fats sector is shaped by the country's rich cultural diversity and reliance on local agricultural resources. The unique climate and soil conditions facilitate the cultivation of various oilseed crops, influencing the types of margarine made available. Additionally, traditional culinary practices, often centered around local flavors, encourage the incorporation of regional ingredients, creating a preference for margarine that complements local dishes. Regulatory frameworks promoting health awareness further drive innovation, compelling manufacturers to create products that align with cultural tastes while emphasizing nutritional benefits.

Underlying macroeconomic factors: The Margarine Market in Guyana is significantly influenced by macroeconomic factors such as agricultural productivity, import-export dynamics, and consumer purchasing power. Global trends in oil prices and trade policies can affect the cost of raw materials, impacting margarine pricing and availability. Additionally, national economic health, reflected in GDP growth and inflation rates, shapes consumer confidence and spending habits, which directly influence demand for margarine products. Fiscal policies promoting local agriculture and food security further support the market, encouraging investment in domestic production and innovation, while enhancing the overall quality and nutritional profile of margarine available to consumers.

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.