Margarine Market To Reach $4.64 Billion By 2030 | CAGR: 2.4%

Margarine Market Growth & Trends

The global margarine market size is expected to reach USD 4.64 billion by 2030, expanding at a CAGR of 2.4% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing number of health conscious consumers is expected to drive the demand for the product as it contains low fat, low calorie, and low cholesterol. Furthermore,the consumption pattern will shift towards healthier and heart-friendly alternatives in the near future due to growing aging population.

Increasing application of the product in the bakery and confectionary industry is a key factor fueling the market growth. Margarine has gained significant popularity as an affordable, healthier, and sustainable ingredient among numerous food manufacturers. As a result, in terms of application, the commercial segment dominated the market in 2024.

In terms of product, hard margarine led the market with over 51.5% share of the total revenue in 2024. It is the most used form of the product in the food industry. Rising acceptance of packaged cookies and biscuits has widened the opportunity for hard margarine over the world. Liquid margarine is expected to witness the fastest growth over the forecast period owing to its lower fat content.

Key competitors in the industry include Unilever; Bunge Limited; NMGK Group; Conagra Brands, Inc.; Wilmar International Ltd.; BRF; Yildiz Holding; Cargill, Incorporated; Uni-President; Upfield; China Mengniu Dairy Company Limited; and Namchow. Merger & acquisition and new product launch are the key strategies adopted by the margarine manufacturers. For instance, in July 2018, Kohlberg Kravis Roberts & Co. L.P. (KKR) completed its acquisition of Unilever’s Spreads business. KKR acquired the business for USD 8.04 billion and it includes Unilever’s Country Crock, Becel, Flora, and Blue Band brands. This acquisition helped to reshape and enhance the product portfolio of the Spreads business.

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Margarine Market Report Highlights

• In terms of product, the hard segment dominated the market in 2024 with over 51.5% share of the global revenue owing to extensive application scope of the product in the bakery and confectionary industry

• The household application segment is expected to expand at the fastest CAGR of 1.9% from 2025 to 2030. This growth is attributed to increasing importance of healthy spreads during breakfast and dinner among the millennials

• Asia Pacific is expected to exhibit the fastest CAGR of 3.4% from 2025 to 2030 owing to growing demand for the product in countries, such as China and India 

Margarine Market Segmentation

Grand View Research has segmented the global margarine market report based on product, application, and region:

Margarine Product Outlook (Revenue, USD Million, 2018 - 2030)

• Hard

• Soft

• Liquid

Margarine Application Outlook (Revenue, USD Million, 2018 - 2030)

• Commercial

• Household

Margarine Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

• Asia Pacific

  • China

  • India

  • Japan

  • Australia & New Zealand

  • South Korea

• Latin America

  • Brazil

• Middle East & Africa

  • UAE

List of Key Players in Margarine Market

• Unilever

• Bunge

• NMGK Group

• Conagra Brands, Inc.

• Wilmar International Ltd

• BRF Global.

• Yildiz Holding

• Cargill, Incorporated.

• Uni-President

• Flora Food Group

• China Mengniu Dairy Company Limited

• Namchow (THAILAND) LTD.