Global Margarine and Shortening Market Is Estimated To Witness High Growth Owing To Increasing Consumer Preference for Healthier Alternatives

Margarine and Shortening Market

The global Margarine and Shortening Market is estimated to be valued at US$ 15.75 billion in 2023 and is expected to exhibit a CAGR of 1.5% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Margarine and shortening are popular products in the food industry that serve as healthier alternatives to butter and oil. Margarine is a plant-based spread that is lower in saturated fat compared to butter, while shortening is a solid fat used in baking to create flaky pastries. These products are widely used in the bakery, confectionery, and food processing industries.

Consumers today are becoming more health-conscious and are seeking alternatives to traditional fats and oils. Margarine and shortening offer several advantages, including lower cholesterol content and reduced levels of saturated fats. They are also versatile and can be used in various culinary applications, making them a preferred choice among consumers.

Market Key Trends:

One key trend driving the growth of the global margarine and shortening market is the increasing consumer preference for healthier alternatives. With rising awareness about the health risks associated with high consumption of saturated fats, consumers are actively seeking products that offer better nutritional profiles. Margarine and shortening meet these requirements by offering lower cholesterol content and reduced levels of saturated fats. For example, products made from plant-based oils such as soybean oil and sunflower oil are gaining popularity due to their perceived health benefits.

PEST Analysis:

Political: The political landscape can impact the market for margarine and shortening. Government regulations regarding food labeling and health claims can influence consumer perception and purchasing decisions.

Economic: Economic factors such as disposable income, consumer spending patterns, and economic stability play a crucial role in determining the demand for margarine and shortening. A growing economy with higher disposable income levels can drive the demand for premium and healthier food products.

Social: Changing consumer preferences and lifestyle trends towards healthier eating habits are driving the demand for margarine and shortening. Increased awareness about the benefits of consuming healthier fats has further fueled the market growth.

Technological: Advancements in food processing technology and manufacturing processes have enabled the production of margarine and shortening with improved flavor, texture, and nutritional profiles. Technological advancements also help in ensuring product consistency, quality, and longer shelf life.

Key Takeaways:

1: The global margarine and shortening market is expected to witness high growth, exhibiting a CAGR of 1.5% over the forecast period, due to increasing consumer preference for healthier alternatives. Consumers are actively seeking products that offer lower cholesterol content and reduced levels of saturated fats, driving the demand for margarine and shortening.

2: In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the margarine and shortening market. The rising awareness about the health risks associated with high consumption of saturated fats and the growing demand for healthier food options are driving the market growth in this region.

3: Key players operating in the global margarine and shortening market include Unilever, Conagra Brands, Bunge Limited, Wilmar International Ltd., Upfield Holdings BV, Cargill, Incorporated, Archer Daniels Midland Company (ADM), Fuji Oil Co., Ltd., Richardson International Limited, Dairy Farmers of America, AAK AB, NMGK Group, Puratos Group, Kerry Group, and Vandemoortele. These companies are focusing on product innovation, strategic collaborations, and expansion strategies to gain a competitive edge in the market.

In conclusion, the global margarine and shortening market is witnessing high growth due to increasing consumer preference for healthier alternatives. The market is driven by factors such as rising awareness about the health risks associated with high consumption of saturated fats and changing consumer preferences towards healthier eating habits. Key players in the market are focusing on product innovation and expansion strategies to capitalize on the growing demand.