Margarine and Shortening Market |
The rise of plant-based fats market is estimated to be
valued at US$ 15.75 Bn 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:
Plant-based fats such as margarine and shortenings are
used widely in bakery products, spreads and sauces. With growing health and
environmental concerns, demand for plant-based alternatives to butter and lard
is increasing. These fats provide texture and stability to food products while
being cholesterol-free.
Market
Dynamics:
Rising health consciousness is expected to be a key
driver for the plant-based fats market over the forecast period. Customers are
increasingly opting for vegetarian and vegan alternatives, pushing demand from
food operators and home use. Furthermore, plant-based fats have a lower carbon
footprint than dairy-based options, helping companies meet sustainability
goals. Additional demand is coming from new product innovations, especially in
the bakery and confectionery segment catering to flexitarians and vegetarians.
Market
Key Trends:
The margarine and shortening market has been
witnessing a rising demand for plant-based and clean-label products. Consumers are
increasingly looking for margarine and shortening products with no artificial
ingredients and preservatives. Manufacturers are responding to this demand by
developing margarine spreads, bakery shortening, and other products using
plant-based oils and fats that appeal to health-conscious consumers.
Furthermore, the flexitarian trend of reducing meat intake has increased the
demand for plant-based butter and margarine alternatives.
SWOT
Analysis:
·
Strength: Plant-based and clean-label product
launches that appeal to health-focused consumers.
·
Weakness: Negative perception around
hydrogenated fats and health effects linked to margarine's early history.
·
Opportunity: Growing popularity of the
flexitarian diet driving demand for butter and margarine alternatives.
·
Threats: Intense competition from dairy butter manufacturers
and new plant-based spreads brands.
Key
Takeaways:
The Global
Margarine and Shortening Market Growth is expected to witness high,
exhibiting a CAGR of 1.5% over the
forecast period of 2023-2030, to
reach a value of US$ 15.75 Bn in 2023.
The market is driven by increasing adoption of plant-based fat alternatives and
clean-label trend.
The North American region currently dominates the
global margarine and shortening market owing to rising consumer preference for
clean-label and plant-based products. Europe is another major regional market
supported by increasing shelf space for margarine and butter alternatives in
supermarkets and convenience stores. The Asia Pacific region is expected to be
the fastest growing market in the coming years led by growing health-conscious
consumer base in India and China.
Key players operating in the 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, and Kerry Group. The
players are focusing on expanding their clean-label and plant-based product
lines through acquisitions, partnerships, and new product launches.
Read More - https://www.trendingwebwire.com/margarine-and-shortening-market-demand-and-size-analysis/
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