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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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 sector in North America is experiencing negligible growth, influenced by shifting consumer preferences towards healthier options, rising concerns over trans fats, and the increasing popularity of butter and plant-based alternatives.
Customer preferences: Consumers are gravitating towards clean-label products, prompting a decline in margarine consumption as they favor natural fats like butter and olive oil. This trend is particularly pronounced among younger demographics who prioritize transparency in food sourcing and ingredients. Additionally, the rise of plant-based diets is influencing preferences, with many opting for vegan spreads made from nuts or avocados. Health-conscious individuals are also increasingly scrutinizing nutrition labels, leading to a demand for healthier alternatives free from artificial additives.
Trends in the market: In North America, the margarine market is experiencing a notable decline as consumers increasingly prefer clean-label products, leading to a shift towards natural fats like butter and olive oil. This trend is especially strong among younger generations who value ingredient transparency and sustainability. The rise of plant-based diets is also reshaping preferences, with many individuals opting for vegan spreads made from nuts or avocados. Health-conscious consumers are scrutinizing nutrition labels more carefully, driving demand for healthier, additive-free alternatives, which poses challenges and opportunities for industry stakeholders to innovate and adapt their product offerings.
Local special circumstances: In North America, the margarine market is influenced by a diverse cultural landscape that prioritizes health and wellness, with consumers increasingly seeking products that align with their values. The region's strong emphasis on sustainability and organic farming is driving demand for natural alternatives, such as butter and plant-based spreads. Additionally, regulatory frameworks promoting transparency in labeling are compelling manufacturers to reformulate products, further accelerating the shift towards cleaner, healthier options that resonate with the preferences of health-conscious consumers.
Underlying macroeconomic factors: The growth of the margarine market in North America is significantly shaped by macroeconomic factors such as fluctuating commodity prices, shifts in consumer spending, and broader economic conditions. The ongoing trend towards health and wellness is reinforced by rising disposable incomes, allowing consumers to invest in premium and organic products. Moreover, fiscal policies promoting agricultural sustainability and investment in food innovation are encouraging manufacturers to diversify their offerings. Additionally, the impact of global supply chain disruptions affects ingredient availability and pricing, further influencing market dynamics as consumers increasingly seek affordable yet health-conscious 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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights