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Asia Pacific Industrial Margarine Market to 2027 - Regional Analysis and Forecasts by Application ; Type ; Source ; Form, and Countries

Asia Pacific Industrial Margarine Market to 2027 - Regional Analysis and Forecasts by Application ; Type ; Source ; Form, and Countries

  • March 2020
  • 134 pages
  • ID: 5887336
  • Format: PDF
  • The Insight Partners

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The industrial margarine market in APAC was valued at US$ 532.5 million in 2018 and is expected to grow at a CAGR of 3.2% during 2019–2027 to reach US$ 706.0 million by 2027.

Margarine is an evolution to a highly accepted spread that is a prime example of technological advancement made through the combined efforts of oil chemists, food technologists, nutritionists, and chemical engineers.Industrial margarine has taken its place worldwide as an excellent nutritive food owing to its concentrated source of food energy; it can be a uniform supplement of vitamins D and A, and it can also be a source of polyunsaturated essential fatty acids.

Industrial margarine is neither a substitute for, nor an imitation of, butter, even though the spread is made from naturally occurring products and is known to possess all the physical, sensory, and nutritional attributes of butter.The consumers in most of the developed and developing countries in APAC are quite concerned regarding the maintenance of healthy life style and healthy diet.

There is a growing demand for low fat food and beverages owing to changing lifestyles and rising health consciousness, which, in turn, is driving the industrial margarine market growth.Industrial margarine is widely used in making bakery items and other food processing industries.

It is used in puff pastries, croissants, cakes, breads, chocolate, sweet rolls, cookies and biscuits. However, industrial margarine contains trans-fat ranging 0.2–26 g owing to which its consumption is banned in a few countries such as China and Japan. In many countries, there are legal limits to trans-fat content. As flavor options increase, consumers easily get attracted toward the products, which help in increasing sales and revenue generation. Companies in the industrial margarine market have greatly expanded their product lines over the past few years, and have heavily emphasized their marketing toward young consumers. Currently, the industrial margarine demand is continuously growing with the rise in the application of this product from baking, HORECA, and food processing industries. Food processing industries prefer using margarine in processed food products as it is priced lower than butter. In addition, industrial margarine is used in bakery items, spreads and sauces, toppings, in confectioneries, and in convenience food items, owing to which it has gained popularity among consumers.

Based on type, the industrial margarine market in APAC is segmented into spreadable margarine, all-purpose industrial margarine, and butter blend.Margarine is used as a spread for cooking, baking, and flavoring applications.

It is sometimes described as a non-dairy spread.In 2018, the all-purpose industrial margarine segment led the industrial margarine market in APAC.

The reason why all-purpose industrial margarine is a segment leader is that the common use of all-purpose industrial margarine in baking and cooking purposes has made them a common ingredient in households, hotels, restaurants, and food processing plants.All-purpose industrial margarine is a versatile margarine used in baking end number of treats and delicacies in homes and on industrial scale.

The versatility offered by all-purpose industrial margarine in the preparation of convenience foods is expected to drive the all-purpose industrial margarine market to some extent. All-purpose industrial margarine is also suitable for industrial uses related to baking. It has added colors and flavors to improve the taste of the final product. It is particularly suitable for use in general baking applications. Spreadable margarine has fat content in the range of 10–90%. Butter blends are prepared by blending several vegetable fats and margarine to produce a product similar to that of butter for uses in the bakery industry. Butter blends have a flavor similar to butter. Butter blends have rich texture and buttery taste while being more economical than pure butter. Butter blends made from anhydrous milk fat and vegetable oils can have cholesterol levels less than 95%.

The industrial margarine market in APAC is segmented into Australia, China, India, Japan, South Korea, the Rest of APAC.In 2018, China dominated the industrial margarine market in Asia Pacific.

China’s economy has rapidly grown in the recent years and is now among the second-largest economy in APAC.India is a developing economy and several emerging companies are venturing into the market with the need for cost-efficient manufacturing units.

India has the availability of cheap labor; thus, several international foods and beverage manufacturers are setting up their production units in India.Japan is a highly developed economy and it is the third-largest economy by GDP.

The growing demands from the pharmaceuticals industry are expected to drive the industrial margarine market in South Korea. Increase in average expenditure of South Korean upon their household and food is expected to lead to the growth of the market. The market in the Rest of APAC includes Singapore, Malaysia, Taiwan, and Vietnam, along with other countries. Singapore and Malaysia are developed economies and consumers are moving toward healthy food products, which has increase the demand for industrial margarine.

A few players present in the industrial margarine market in APAC are Bunge Limited, Associate British foods, Conagra Brands, Inc., EFKO Group, Fuji Oil Europe, NMGK Group, Puratos, Richardson International Limited, Vandemoortel, and Wilmar International Ltd.

The overall industrial margarine market size in APAC has been derived using both primary and secondary sources.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the industrial margarine market in APAC.

Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in industrial margarine.

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