According to a recent report by Future Market Insights, a
market research and competitive intelligence provider, sales of Vegan
Margarine are estimated to reach a value of USD 1,307.1 Mn by 2032,
surging at 3.2% CAGR through the decade.
The growing demand for vegan goods in both developed and
developing countries has a big influence on the global Vegan Margarine market.
As people become even more increasingly health – conscious across the world,
there is a growing desire for healthier foods.
Animal fats have been phased out of margarine and spreads in
favour of vegetable oils. Their popularity has risen and fallen as a result of
butter shortage, low cost, health worries about animal and trans fats, and
consumer interest in palm oil and vegetarianism.
Some of the factors that will likely accelerate the growth
of the plant-based margarine market include greater usage of confectionaries as
a dessert, availability of products for lactose intolerant people, changes in
lifestyle combined with rising disposable income, and an increase in the number
of small bakeries and artisanal bakeries. This trend is expected to continue
and extend throughout developed regions in the coming years. Despite the fact
that conventional is the more popular source in terms of units eaten, the
organic category is projected to grow at the rapid pace in terms of revenue
throughout the forecast period.
Key Takeaways from Market Study
- North
America is expected to have 38% vegan margarine market share.
- US
holds 65 % vegan margarine market share in North American Market.
- Europe
is expected to have 31 % vegan margarine market share.
- Germany
holds 22 % vegan margarine market share in European Market.
- Asia
is expected to have 20 % vegan margarine market share.
- China
holds 32 % vegan margarine market share in Asian Market.
- Market
players are experimenting with new ways on increasing production capacity
and also doing research and innovation to create products.
“ The growing focus on the
consumption of vegan food products in developed regions such as Europe and
North America is likely to open lucrative opportunity for market players in the
long run”, –says a lead analyst at Future Market Insights.
Competitive Landscape
Vegan Margarine have a strongly competitive global market.
To stay ahead of the game and outperform their competitors, businesses are
using innovative methods such as expanding their worldwide client base and
utilising various advertising approaches. They’re focusing on increasing
production capacity and also doing research and innovation to create new products.
Some of the leading companies offering Snack Pellets are
Bunge Limited; Dairy Crest Limited; Unilever; PURATOS; Wilmar International
Ltd; FUJI OIL HOLDINGS INC.; LASENOR EMUL, S.L.; EFKO Group;
Richardson International Limited.; Sime Darby Oils Zwijndrecht Refinery
B.V.; Currimjee Vandemoortele; NMGK Group; Silverson; Bonanza Megah;
Muez-Hest India Private Limited.; Walter Rau Lebensmittelwerke GmbH;
Jeewanjee and Company Limited.; Conagra Brands, Inc.; Cardowan Creameries
Limited;.
Read More: https://www.futuremarketinsights.com/reports/vegan-margarine-market