In 2023, the production of short margarine in India stood below the forecasted 612.71 thousand metric tons for 2024. The forecast reveals a consistent decline in production over the next five years, with values dropping steadily each year. From 2024 to 2028, the Compound Annual Growth Rate (CAGR) indicates a contraction in production, highlighting a constricted market.
Future trends to watch for:
- Shifting consumer preferences towards healthier alternatives may further suppress demand.
- Increased raw material costs could pressurize production capacities.
- Potential regulatory changes aimed at healthier consumption patterns may impact production.