The production of margarine in Spain has shown significant growth over the past decade. From 2013 to 2023, it increased from 84.6 to 169.91 thousand metric tons, achieving a compound annual growth rate (CAGR) of 2.91% in this period. The production experienced fluctuations, with notable declines in 2020 due to various market disruptions. However, it rebounded strongly in subsequent years, with 2023 witnessing a 2.81% year-on-year growth.
Looking ahead, the forecast suggests a steady annual growth rate, with a 5-year CAGR of 2.1% from 2024 to 2028. By 2028, the production volume is projected to reach 194.19 thousand metric tons, reflecting a total growth of approximately 10.96%.
Future trends to watch include potential changes in consumer preferences leaning towards healthier and plant-based alternatives, which may impact margarine production. Additionally, advancements in production technology and potential regulatory changes regarding food ingredients may also shape the trends in this sector.
