The margarine and shortening market involves the production and sale of butter substitutes and fat shortenings. Margarine is a butter alternative made from vegetable fats like soybean and canola oils. It is popular due to its lower cost and higher resistance to spoilage compared to butter. Shortening refers to fat products which are solid at room temperature and used to modify texture or shorten pastry and baked goods. The global demand for margarine has witnessed steady growth owing to benefits like nutritional superiority over butter and versatility in cooking applications. The shortening segment has also increased in popularity among food processing industries as a binding agent. Margarine provides necessary fats and vitamins similar to butter but is less expensive to produce. Additionally, it is cholesterol-free and contains less saturated fat than butter.
The Global Margarine and Shortening Market is estimated to be valued at US$ 18.15 Bn in 2024 and is expected to exhibit a CAGR of 7.0% over the forecast period 2024 to 2031.
Key Takeaways:
Key players operating in the Margarine and Shortening market are Emoha Elder Care, AntaraSeniorCare, Nisarg Care, Tata Trust, Ashiana Housing Ltd., Heritage Eldercare Services Pvt. Ltd., ASLI (Association of Senior Living India), Nema Care, Age Ventures India, Piramal Swasthya, Jeevan Suraksha, and Kriti Elder Care.
The growing demand in the market is attributed to increasing consumption of bakery and confectionery items in Asia Pacific countries like China and India. Rapid urbanization along with changing diets of young populations in these regions is fueling the growth of convenient margarine and shortening products.
Major players are expanding their global footprint through export opportunities across developing economies. For example, Unilever has inaugurated a new margarine production facility in Egypt to capture Africa's growing margarine demand. Leveraging trade agreements, companies are investing in overseas plants to serve international buyers.
Market drivers:
The key driver for the Margarine And Shortening Market Size is the increasing demand for convenience foods in Asia Pacific. Busy lifestyles and dual-income families have boosted the sales of ready-to-eat meals, packaged snacks and frozen foods. Since margarine and shortening act as important ingredients in pastries, doughs and fried foods, their demand rises in tandem with the growth of fast moving consumer goods industry. Asia Pacific currently dominates the global margarine market driven by population numbers and growth in disposable incomes of middle-class households.
Impact of geopolitical situation on Margarine and Shortening market growth and geographical regions
The current geopolitical instability across regions has impacted the growth of the margarine and shortening market. Supply chain disruptions caused due to trade restrictions and sanctions imposed by countries have hindered the smooth movement of raw materials in the market. Similarly, geopolitical risks and conflicts have negatively impacted the agricultural sectors of some nations, limiting the availability of key ingredients like vegetable oils used in making margarine and shortening products. Looking ahead, companies need to diversify their sourcing strategies and establish local production units across regions to minimize supply risks. Building strategic alliances with local players will help gain better access to raw materials and consumer markets, thereby enhancing supply flexibility. Companies must focus on integrating sustainability practices to enhance resource use efficiency and support farmers amid challenging economic conditions.
Asia Pacific currently holds the major share of the global margarine and shortening market in terms of value and is expected to continue dominating during the forecast period. Countries like India, China, and Indonesia account for a large consumer base as well as ample availability of raw materials, working in favor of market growth. Europe accounts for the second largest share of the market and companies are strengthening their presence in countries like Germany, UK, and France to leverage opportunities. North America is projected to witness the fastest growth during the forecast period. Growing demand for plant-based and clean label products from health-conscious consumers will drive market expansion across the US and Canada. Strengthening distribution networks and product innovations tailored to local tastes will assist companies in boosting sales across developing regions.
Impact of geopolitical situation on African margarine and shortening market growth
The African margarine and shortening market has been impacted owing to geopolitical turbulence across several countries. Armed conflicts and political instability in Central African countries like Chad, Sudan, South Sudan, and Cameroon have disrupted local agricultural activities and transportation of goods. This has negatively influenced the availability of important raw materials, impacting production volumes. Economic sanctions imposed on some nations by global bodies over human rights issues have deterred foreign investments and technology transfers. It has inhibited the development of efficient manufacturing infrastructure. Furthermore, fluctuations in currency valuation due to uncertain market conditions have increased input costs, squeezing profit margins. Looking ahead, strengthening of cross-border cooperation and improving security measures will help restore supply chains and revive market confidence. Steps must also be taken to promote stable governance, encourage investment-friendly policies, develop processing facilities, and boost farmer welfare to ensure sustained raw material supply.
Europe accounts for the major share of the Africa margarine and shortening market currently. Nations like South Africa, Nigeria, Algeria, and Egypt contribute significantly to the regional market revenues owing to growing consumption patterns. Developing packaged food cultures and rising health awareness are driving sales across countries. North Africa is poised to showcase high growth over the next decade given its proximity to European markets and efforts to revitalize the food sector. However, political and security issues continue to deter investments. East Africa, with nations like Ethiopia and Kenya holding high potential, needs effective policy reforms to attract private players and foster local industry. Collaboration with multilateral agencies can help bridge infrastructural gaps and plug into global supply networks.
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