Margarine - Taiwan | Statista Market Forecast

Revenue in the Margarine market amounts to US$183.00m in 2024. The market is expected to grow annually by 2.79% (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$7.64 are generated in 2024.
In the Margarine market, volume is expected to amount to 52.56m kg by 2029. The Margarine market is expected to show a volume growth of 1.9% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 1.96kg 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.

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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 in Taiwan is experiencing negligible growth, influenced by factors such as shifting dietary preferences, the rise of healthier alternatives, and increased awareness of trans fats, which are impacting consumer choices and demand for traditional margarine products.

Customer preferences: In Taiwan, consumer preferences in the margarine market are shifting towards healthier and more natural alternatives, reflecting a growing awareness of nutrition and wellness. Younger demographics, particularly millennials and Gen Z, are increasingly opting for plant-based spreads that boast clean ingredients and functional benefits, such as omega-3 fatty acids. Additionally, traditional cooking methods and local culinary practices are influencing the demand for products that align with health-conscious lifestyles, further steering consumers away from conventional margarine options.

Trends in the market: In Taiwan, the margarine market is experiencing a notable shift towards healthier, plant-based alternatives, driven by increasing consumer awareness regarding nutrition and wellness. There is a growing preference among younger generations, particularly millennials and Gen Z, for spreads that contain clean ingredients and functional benefits, such as enhanced omega-3 fatty acids. This trend is significant as it reflects a broader movement towards health-conscious eating, prompting industry stakeholders to innovate and reformulate products. As traditional culinary practices also influence preferences, manufacturers must adapt to meet the evolving demands for natural and functional margarine options, fostering opportunities for growth in this segment.

Local special circumstances: In Taiwan, the margarine market is shaped by unique cultural and geographical factors that influence consumer preferences. The island's rich culinary tradition, which emphasizes fresh, local ingredients, drives demand for margarine that complements traditional dishes while offering health benefits. Additionally, Taiwan's regulatory framework promotes food labeling transparency, encouraging consumers to seek products with clear, nutritious ingredients. The rising focus on sustainability and plant-based diets further propels innovation, as manufacturers adapt to local tastes and health trends, creating opportunities for growth in the margarine segment.

Underlying macroeconomic factors: The Margarine Market in Taiwan is significantly influenced by macroeconomic factors such as consumer spending power, health trends, and agricultural policies. The country's robust economic growth and rising disposable incomes enable consumers to prioritize healthier food choices, thereby boosting demand for margarine products perceived as nutritious alternatives to butter. Furthermore, Taiwan's agricultural policies that support local oilseed production enhance the supply chain for margarine manufacturers. Global trends towards health consciousness and plant-based diets also play a critical role, prompting innovation in product offerings that align with these preferences, ultimately fostering market expansion.

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.