Margarine - Worldwide | Statista Market Forecast

Revenue in the Margarine market amounts to US$31.50bn in 2024. The market is expected to grow annually by 6.71% (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$4.07 are generated in 2024.
In the Margarine market, volume is expected to amount to 8.32bn kg by 2029. The Margarine market is expected to show a volume growth of 3.3% in 2025.0.
The average volume per person in the Margarine market is expected to amount to 0.93kg 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 is experiencing minimal growth globally, influenced by factors such as shifting consumer preferences towards healthier alternatives, rising concerns over trans fats, and increased competition from plant-based spreads.

Customer preferences: Consumers are increasingly prioritizing health and wellness, prompting a shift away from traditional margarine towards cleaner, more natural alternatives that align with a holistic lifestyle. The rise of plant-based diets among younger demographics highlights a growing preference for spreads made from wholesome ingredients, such as avocado or nut-based options. Additionally, cultural influences are steering interest towards ethnic flavors and artisanal products, as consumers seek unique culinary experiences while remaining conscious of nutritional content and ingredient transparency.

Trends in the market: Globally, the Margarine Market within the Oils & Fats sector is experiencing a shift towards healthier, more natural alternatives as consumers increasingly prioritize nutritional value and ingredient integrity. In North America, there's a notable rise in demand for plant-based spreads, driven by younger consumers opting for avocado and nut-based options. Meanwhile, Europe is seeing a surge in interest for artisanal and ethnic-flavored margarines, reflecting a desire for unique culinary experiences. These trends signify a crucial pivot for industry stakeholders, who must adapt their product offerings to meet health-conscious consumer preferences and capitalize on emerging flavor profiles.

Local special circumstances: In Japan, the Margarine Market is influenced by traditional dietary practices and a strong preference for umami flavors, leading to a unique demand for margarine infused with miso or seaweed extracts. Local regulations favor high-quality ingredients, pushing manufacturers to innovate with clean-label products that align with consumer health trends. In contrast, in Nigeria, the market is shaped by a vibrant street food culture, where affordable and versatile margarine is essential for local cooking, driving demand for budget-friendly options that enhance flavor and texture in traditional dishes.

Underlying macroeconomic factors: The Margarine Market within the Oils & Fats sector is significantly influenced by macroeconomic factors such as global commodity prices, national economic stability, and consumer purchasing power. In countries with strong agricultural sectors, lower production costs for raw materials lead to more affordable margarine options, fostering growth. Conversely, in regions facing economic challenges or inflation, consumers may prioritize budget-friendly alternatives, shaping demand dynamics. Additionally, fiscal policies promoting health and nutrition can encourage manufacturers to innovate healthier margarine products, aligning with global trends toward clean-label and sustainable offerings, enhancing market performance overall.

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.