LONDON, March 15, 2018 (GLOBE NEWSWIRE) -- According to the latest publication from Meticulous Research™, the global industrial margarine market will grow at a CAGR of 3.0% from 2018 to 2023 to reach USD 2,945.5 million by 2023, driven by “its low price, increasing consumption of margarine, and growing bakery and confectionery industry. However, factors such as rising health issues and disorders related to obesity, growing need to comply with international quality standards, and stringent regulations are expected to hinder the growth of this market to some extent.”
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The report also notes that, all purpose margarines accounted for the major share of this market in 2017, “owing to its ability to ensure high organoleptic properties of the finished product (clean milky taste and aroma) throughout the shelf life, stability of shape of deposited products after baking, and high resistance to oxidizing (low acid and peroxide values)”.
Geographically, Asia Pacific region is expected to witness significant growth during the forecast period due to “rising household income and consumption levels, which have increased the demand for bakery products; high levels of foreign investment and large numbers of foreign-funded enterprises that promote technologies improvements in the industry; strengthening government food regulations, which standardized the operations and maintained consumer confidence in food safety; and growing consumer preferences for high-quality products”.
The key players operating in the global industrial margarine market are Wilmar International Limited, Bunge Limited, Remia C.V., Currimjee Group, FUJI OIL HOLDINGS INC., Richardson International Limited, s.a. Aigremontn.v., Vandemoortele, NMGK Group, EFKO Group, Royale Lacroix SA, Conagra Brands, Inc., and Puratos Group NV.
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Scope
Market by Source
- Plants
- Animals
Market by Type
- All purpose
- Spreadable
- Butter Blend
- Spray
- Others
Market by Form
- Hard
- Soft
Market by Application
- Bakery
- Confectionery
- Toppings, Sauces, and Spreads
- Convenience Food
- Others
Market by Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Japan
- India
- Australia
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
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