The global Margarine and shortening market Growth is Accelerated by Innovation in Plant-Based Margarine and Shortening
Margarine and shortening market Margarine and shortening are processed food spreads which are commonly used as substitutes for butter. They are distinguished by their higher melting points and ability to be used for baking and frying. Margarine and shortening offer advantages over butter including lower cost, better stability, and versatility for use across cuisines. The global margarine and shortening market is estimated to be valued at US$ 15.75 Bn in 2023 and is expected to exhibit a CAGR of 1.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: Innovation in plant-based margarine and shortening has emerged as a key trend in the market. Rising consumer preference for plant-based and vegan products has prompted companies to invest in product development. Major players have introduced a variety of innovative plant-based margarine and shortening options made from coconut, olive, and avocado o...