The UK margarine market saw significant fluctuations from 2013 to 2023, with a mixture of slight increases and notable surges. Starting from 240.33 million kilograms in 2013, the market grew to 328.31 million kilograms in 2023. Key moments include substantial growth in 2018 and 2019, with increases of 10.11% and 11.2% respectively. The year 2020 saw a slight decline by 1.21%, followed by steady growth with an annual average CAGR of 3.12% over the last five years.
Future trends to watch for:
- Steady annual average growth with a forecasted 5-year CAGR of 1.49%.
- Projected volume of 360.84 million kilograms by 2028, demonstrating a 7.67% growth from 2023.
- Potential innovation in plant-based alternatives contributing to market expansion.
