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.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Margarine market within the Oils & Fats segment in the Nordics is experiencing negligible growth, influenced by shifting consumer preferences towards healthier alternatives, increased awareness of trans fats, and the rising popularity of plant-based spreads.
Customer preferences: In the Nordics, consumers are gravitating towards healthier fat alternatives, prompting a decline in traditional margarine consumption. This trend is fueled by a growing awareness of health issues linked to trans fats and an increasing demand for transparency in food labeling. Additionally, the rise of plant-based diets, driven by environmental concerns and ethical considerations, is pushing consumers to explore innovative spreads made from nuts, seeds, and avocados. This shift reflects a broader cultural movement towards sustainable and health-conscious eating habits.
Trends in the market: In the Nordics, the margarine market is experiencing a notable decline as consumers increasingly seek healthier fat alternatives. This shift is driven by heightened awareness of the health risks associated with trans fats, prompting a demand for cleaner, more transparent food labeling. Concurrently, the surge in plant-based diets, influenced by environmental and ethical concerns, is steering consumers towards innovative spreads derived from nuts, seeds, and avocados. This trend not only highlights a cultural move towards sustainable eating but also presents significant implications for industry stakeholders, who must adapt their product offerings to meet evolving consumer preferences and health standards.
Local special circumstances: In the Nordics, the margarine market is uniquely influenced by a strong cultural emphasis on health and sustainability, which is reflected in consumer preferences for natural and organic products. The region’s stringent regulatory framework surrounding food labeling and safety ensures transparency, compelling manufacturers to reformulate their products to eliminate harmful trans fats. Additionally, the Nordic countries' rich agricultural heritage fosters a growing interest in locally sourced ingredients, encouraging innovation in margarine alternatives made from nuts and seeds. This combination of cultural values and regulatory pressures significantly shapes market dynamics, pushing brands to prioritize healthier, environmentally friendly options.
Underlying macroeconomic factors: The margarine market in the Nordics is significantly influenced by macroeconomic factors such as rising consumer income levels, increased awareness of health and wellness, and shifting dietary preferences. Global trends towards plant-based diets and sustainability are prompting local manufacturers to innovate and diversify their product ranges. Moreover, stringent fiscal policies aimed at promoting public health, such as taxes on unhealthy fats, are reshaping consumer choices and encouraging the development of healthier margarine alternatives. Additionally, fluctuations in agricultural commodity prices impact ingredient sourcing, driving brands to adapt their strategies to maintain competitiveness and meet evolving consumer demands.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights