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Industrial Hard Margarine Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Spreadable, All-Purpose, Butter Blend) and Application [Bakery and Confectionery (Cookies and Biscuits, Cakes, Flaky Pastries, and Other Bakery and Confectionery), RTE and RTC Food, Meat and Dairy Substitutes, and Others]
- Report Code : TIPRE00029837
- Pages : 147
The industrial hard margarine market size is expected to grow from US$ 2,414.51 million in 2022 to US$ 2,869.63 million by 2028; it is estimated to register a CAGR of 2.9% from 2022 to 2028.
Margarine is produced by the hydrogenation of vegetable oils such as palm oil, sunflower oil, canola oil, and safflower oil. Generally, hard margarine has more saturated fatty acid content than other types of margarine, such as soft/tub margarine and liquid margarine. Over the past few years, there has been tremendous growth in the vegan population globally. According to a study conducted by “Veganz,” a Berlin-based supermarket chain, the number of vegans in Europe increased to 2.6 million during 2017–2020, representing 3.2% of the total European population. Europeans are significantly reducing meat consumption due to the rising awareness of animal cruelty at slaughterhouses and the increasing concerns regarding health and wellness. According to Google Trends report, the UK had the highest number of searches for veganism and vegan diet in 2021. Plant-based food provides improved immunity, reduced infection risk, and better brain and heart health, among other health benefits. Thus, people are increasingly shifting toward non-dairy alternatives and meat-free diets as they perceive plant-based foodstuffs as healthier alternatives to animal-based diets.
Hard margarine has a higher oxidative stability than other margarine types, which makes it a popular ingredient among various commercial and household bakers. The demand for hard margarine is increasing across the manufacturers of bakery and non-dairy products and meat substitutes due to its affordability and convenience of use. Bakery manufacturers in Europe are taking efforts to reduce the cost of their products to make them accessible to all consumer groups. Therefore, the preference for industrial hard margarine is increasing, driving the industrial hard margarine market.
Based on application, the industrial hard margarine market is segmented into bakery and confectionery, RTE and RTC food, meat and dairy substitutes, and others. The bakery and confectionery segment is subsegmented into cookies and biscuits, cakes, flaky pastries, and other bakery and confectionery. The bakery and confectionery segment held the largest market share in 2022 and is expected to register the highest CAGR during the forecast period. Increasing purchasing power and changing eating habits of people have led to the increasing popularity of bakery and confectionery products among the masses. Bakery products such as biscuits account for a major share of the total bakery products produced worldwide. The bakery sector comprises cakes, puffs, frozen bakery products, etc. Hard margarine is an integral baking ingredient as it provides tenderness, improved texture, and a better sensory profile and increases the nutritional value of food.
In terms of region, the industrial hard margarine market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. In 2021, North America held the largest share of the market. Asia Pacific industrial hard margarine market growth is attributed to rising consumer preference towards healthy lifestyle and products that provide health benefits owing to growing incidences of diseases such as diabetes, high-blood pressure, and constipation. According to the Centers for Diseases Control and Prevention (CDC), 37.3 million people in the US had diabetes in 2021. Further, the demand for plant-based food has increased in the young population, which is fueling the industrial hard margarine market growth. In addition, the well-established food processing industry in the region uses industrial hard margarine to prepare several food products. Key food processing manufacturers in the region are focusing on the adoption of low-cost alternatives to butter, which is surging the demand for industrial hard margarine.
Vandemoortele NV, Bunge Ltd, Puratos NV, NMGK Group of Co, Fuji Oil Co Ltd, Wilmar International Ltd, Nubeser Soluciones SLU, Cardowan Creameries Ltd, AAK AB, and Eccelso Ltd are among the key players operating in the industrial hard margarine market. These players engage in developing affordable and innovative products to meet the rising customer demands and expand their market share.
The overall size of the industrial hard margarine market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants in this process include VPs; business development managers; market intelligence managers; national sales managers; and external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the industrial hard margarine market.
TABLE OF CONTENTS
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis Formulation:
3.2.4 Macro-economic Factor Analysis:
3.2.5 Developing Base Number:
3.2.6 Data Triangulation:
3.2.7 Country Level Data:
4. Industrial Hard Margarine Market Landscape
4.1 Market Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Intensity of Competitive Rivalry
4.2.5 Threat of Substitutes
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 End Users
4.4 Expert Opinion
5. Industrial Hard Margarine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for Margarine as a Low-Cost Alternative to Butter
5.1.2 Proliferation of European Bakery Industry
5.2 Market Restraints
5.2.1 Stringent Regulatory Focus on Trans Fats Content of Margarine
5.3 Market Opportunities
5.3.1 Product Innovation to Address Concerns Related to Margarine Ingredients
5.4 Future Trends
5.4.1 Growing Popularity of Veganism
5.5 Impact Analysis of Drivers and Restraints
6. Industrial Workwear and Gear – Global Market Analysis
6.1 Industrial Hard Margarine Market Overview
6.2 Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
6.3 Competitive Positioning – Key Market Players
7. Industrial Hard Margarine Market Analysis – By Type
7.1 Overview
7.2 Industrial Hard Margarine Market, By Type (2021 and 2028)
7.3 Spreadable
7.3.1 Overview
7.3.2 Spreadable: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
7.4 All-Purpose
7.4.1 Overview
7.4.2 All-Purpose: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Butter Blend
7.5.1 Overview
7.5.2 Butter Blend: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8. Industrial Hard Margarine Market Analysis – By Application
8.1 Overview
8.2 Industrial Hard Margarine Market, By Application (2021 and 2028)
8.3 Bakery and Confectionery
8.3.1 Overview
8.3.2 Bakery and Confectionery: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8.3.3 Cookies and Biscuits
8.3.3.1 Overview
8.3.3.2 Cookies and Biscuits: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8.3.4 Cakes
8.3.4.1 Overview
8.3.4.2 Cakes: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8.3.5 Flaky Pastries
8.3.5.1 Overview
8.3.5.2 Flaky Pastries: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8.3.6 Other Bakery and Confectionery
8.3.6.1 Overview
8.3.6.2 Other Bakery and Confectionery: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8.4 RTE and RTC Food
8.4.1 Overview
8.4.2 RTE and RTC Food: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Meat and Dairy Substitutes
8.5.1 Overview
8.5.2 Meat and Dairy Substitutes: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9. Industrial Hard Margarine Market – Geographic Analysis
9.1 Overview
9.2 North America: Industrial Hard Margarine Market
9.2.1 North America: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.2.2 North America: Industrial Hard Margarine Market, By Type
9.2.3 North America: Industrial Hard Margarine Market, by Application
9.2.4 North America: Industrial Hard Margarine Market, by Key Country
9.2.4.1 US: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9.2.4.1.1 US: Industrial Hard Margarine Market, By Type
9.2.4.1.2 US: Industrial Hard Margarine Market, by Application
9.2.4.2 Canada: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9.2.4.2.1 Canada: Industrial Hard Margarine Market, By Type
9.2.4.2.2 Canada: Industrial Hard Margarine Market, by Application
9.2.4.3 Mexico: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9.2.4.3.1 Mexico: Industrial Hard Margarine Market, By Type
9.2.4.3.2 Mexico: Industrial Hard Margarine Market, by Application
9.3 Europe: Industrial Hard Margarine Market
9.3.1 Europe: Industrial Hard Margarine Market, by Key Country
9.3.1.1 Germany: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.1.1 Germany: Industrial Hard Margarine Market, By Type
9.3.1.1.2 Germany: Industrial Hard Margarine Market, by Application
9.3.1.2 France: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.2.1 France: Industrial Hard Margarine Market, By Type
9.3.1.2.2 France: Industrial Hard Margarine Market, by Application
9.3.1.3 Italy: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.3.1 Italy: Industrial Hard Margarine Market, By Type
9.3.1.3.2 Italy: Industrial Hard Margarine Market, by Application
9.3.1.4 Spain: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.4.1 Spain: Industrial Hard Margarine Market, By Type
9.3.1.4.2 Spain: Industrial Hard Margarine Market, by Application
9.3.1.5 Poland: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.5.1 Poland: Industrial Hard Margarine Market, By Type
9.3.1.5.2 Poland: Industrial Hard Margarine Market, by Application
9.3.1.6 Slovakia: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.6.1 Slovakia: Industrial Hard Margarine Market, By Type
9.3.1.6.2 Slovakia: Industrial Hard Margarine Market, by Application
9.3.1.7 Romania: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.7.1 Romania: Industrial Hard Margarine Market, By Type
9.3.1.7.2 Romania: Industrial Hard Margarine Market, by Application
9.3.1.8 Czech Republic: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.8.1 Czech Republic: Industrial Hard Margarine Market, By Type
9.3.1.8.2 Czech Republic: Industrial Hard Margarine Market, by Application
9.3.1.9 Hungary: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.9.1 Hungary: Industrial Hard Margarine Market, By Type
9.3.1.9.2 Hungary: Industrial Hard Margarine Market, by Application
9.3.1.10 Belgium: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.10.1 Belgium: Industrial Hard Margarine Market, By Type
9.3.1.10.2 Belgium: Industrial Hard Margarine Market, by Application
9.3.1.11 Netherlands: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.11.1 Netherlands: Industrial Hard Margarine Market, By Type
9.3.1.11.2 Netherlands: Industrial Hard Margarine Market, by Application
9.3.1.12 Rest of Europe: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
9.3.1.12.1 Rest of Europe: Industrial Hard Margarine Market, By Type
9.3.1.12.2 Rest of Europe: Industrial Hard Margarine Market, by Application
9.4 Asia Pacific: Industrial Hard Margarine Market
9.4.1 Asia Pacific: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.4.2 Asia Pacific: Industrial Hard Margarine Market, By Type
9.4.3 Asia Pacific: Industrial Hard Margarine Market, by Application
9.4.4 Asia Pacific: Industrial Hard Margarine Market, by Key Country
9.4.4.1 China: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.4.4.1.1 China: Industrial Hard Margarine Market, By Type
9.4.4.1.2 China: Industrial Hard Margarine Market, by Application
9.4.4.2 Japan: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.4.4.2.1 Japan: Industrial Hard Margarine Market, By Type
9.4.4.2.2 Japan: Industrial Hard Margarine Market, by Application
9.4.4.3 India: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.4.4.3.1 India: Industrial Hard Margarine Market, by Type
9.4.4.3.2 India: Industrial Hard Margarine Market, by Application
9.4.4.4 Australia: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.4.4.4.1 Australia: Industrial Hard Margarine Market, By Type
9.4.4.4.2 Australia: Industrial Hard Margarine Market, by Application
9.4.4.5 South Korea: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.4.4.5.1 South Korea: Industrial Hard Margarine Market, By Type
9.4.4.5.2 South Korea: Industrial Hard Margarine Market, by Application
9.4.4.6 Rest of Asia Pacific: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.4.4.6.1 Rest of Asia Pacific: Industrial Hard Margarine Market, By Type
9.4.4.6.2 Rest of Asia Pacific: Industrial Hard Margarine Market, by Application
9.5 South and Central America: Industrial Hard Margarine Market
9.5.1 South and Central America: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.5.2 South and Central America: Industrial Hard Margarine Market, By Type
9.5.3 South and Central America: Industrial Hard Margarine Market, by Application
9.5.4 South and Central America: Industrial Hard Margarine Market, by Key Country
9.5.4.1 Brazil: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.1.1 Brazil: Industrial Hard Margarine Market, By Type
9.5.4.1.2 Brazil: Industrial Hard Margarine Market, by Application
9.5.4.2 Argentina: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.2.1 Argentina: Industrial Hard Margarine Market, By Type
9.5.4.2.2 Argentina: Industrial Hard Margarine Market, by Application
9.5.4.3 Rest of South and Central America: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9.5.4.3.1 Rest of South and Central America: Industrial Hard Margarine Market, By Type
9.5.4.3.2 Rest of South and Central America: Industrial Hard Margarine Market, by Application
9.6 Middle East and Africa: Industrial Hard Margarine Market
9.6.1 Middle East and Africa: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.6.2 Middle East and Africa: Industrial Hard Margarine Market, By Type
9.6.3 Middle East and Africa: Industrial Hard Margarine Market, by Application
9.6.4 Middle East and Africa: Industrial Hard Margarine Market, by Key Country
9.6.4.1 Saudi Arabia: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.6.4.1.1 Saudi Arabia: Industrial Hard Margarine Market, By Type
9.6.4.1.2 Saudi Arabia: Industrial Hard Margarine Market, by Application
9.6.4.2 UAE: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.6.4.2.1 UAE: Industrial Hard Margarine Market, By Type
9.6.4.2.2 UAE: Industrial Hard Margarine Market, by Application
9.6.4.3 South Africa: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.6.4.3.1 South Africa: Industrial Hard Margarine Market, By Type
9.6.4.3.2 South Africa: Industrial Hard Margarine Market, by Application
9.6.4.4 Rest of Middle East and Africa: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
9.6.4.4.1 Rest of Middle East and Africa: Industrial Hard Margarine Market, by Type
9.6.4.4.2 Rest of Middle East and Africa: Industrial Hard Margarine Market, by Application
10. Impact of COVID-19 Pandemic on Industrial Hard Margarine Market
10.1 Impact of COVID-19 on Industrial Hard Margarine Market
10.2 North America: Impact Assessment of COVID-19 Pandemic
10.3 Europe: Impact Assessment of COVID-19 Pandemic
10.4 Asia Pacific: Impact Assessment of COVID-19 Pandemic
10.5 Middle East & Africa: Impact Assessment of COVID-19 Pandemic
10.6 South & Central America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Vandemoortele NV
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Bunge Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Puratos NV
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 NMGK Group of Co
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Fuji Oil Co Ltd
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Wilmar International Ltd
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Nubeser Soluciones SLU
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Cardowan Creameries Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 AAK AB
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Eccelso Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. Global Industrial Hard Margarine Market, by Product Type– Revenue and Forecast to 2028 (US$ Million)
Table 3. Global Industrial Hard Margarine Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 4. North America Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. North America Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. US Industrial Hard Margarine Market, Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. US Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. Mexico Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 12. Germany Industrial Hard Margarine Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 13. Germany Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 14. France Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 15. France Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 16. Italy Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 17. Italy Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 18. Spain Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 19. Spain Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 20. Poland Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 21. Poland Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 22. Slovakia Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 23. Slovakia Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 24. Romania Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 25. Romania Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 26. Czech Republic Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 27. Czech Republic Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 28. Hungary Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 29. Hungary Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 30. Belgium Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 31. Belgium Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 32. Netherlands Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 33. Netherlands Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 34. Rest of Europe Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 35. Rest of Europe Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 36. Asia Pacific Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 37. Asia Pacific: Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 38. China Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 39. China Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 40. Japan Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 41. Japan Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 42. India Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 43. India Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 44. Australia Industrial Hard Margarine Market, By Type– Revenue and Forecast to 2028 (US$ Million)
Table 45. Australia Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 46. South Korea Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 47. South Korea Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 48. Rest of Asia Pacific Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 49. Rest of Asia Pacific Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 50. South and Central America Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 51. South and Central America: Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 52. Brazil Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 53. Brazil Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 54. Argentina Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 55. Argentina Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 56. Rest of South and Central America Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 57. Rest of South and Central America Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 58. Middle East and Africa Industrial Hard Margarine Market, By Type– Revenue and Forecast to 2028 (US$ Million)
Table 59. Middle East and Africa: Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 60. Saudi Arabia Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 61. Saudi Arabia Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 62. UAE Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 63. UAE Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 64. South Africa Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 65. South Africa Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 66. Rest of Middle East and Africa Industrial Hard Margarine Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 67. Rest of Middle East and Africa Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 68. List of Abbreviation
LIST OF FIGURES
Figure 1. Industrial Hard Margarine Market Segmentation
Figure 2. Industrial Hard Margarine Market Segmentation – By Geography
Figure 3. Global Industrial Hard Margarine Market Overview
Figure 4. All-Purpose Segment Held the Largest Market Share in 2021
Figure 5. North America Held the Largest Market Share in 2021
Figure 6. Global Industrial Hard Margarine Market, Key Market Players
Figure 7. Porter’s Five Forces Analysis
Figure 8. Ecosystem: Industrial Hard Margarine Market
Figure 9. Expert Opinion
Figure 10. Bakery New Product Launches in Europe (2016–2020)
Figure 11. Industrial Hard Margarine Market Impact Analysis of Drivers and Restraints
Figure 12. Geographic Overview of Industrial Hard Margarine Market
Figure 13. Global: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Key Players: Industrial Hard Margarine Market
Figure 15. Industrial Hard Margarine Market Revenue Share, By Product Type (2021 and 2028)
Figure 16. Spreadable: Industrial Hard Margarine Market – Revenue and Forecast To 2028 (US$ Million)
Figure 17. All-Purpose: Industrial Hard Margarine Market – Revenue and Forecast To 2028 (US$ Million)
Figure 18. Butter Blend: Industrial Hard Margarine Market – Revenue and Forecast To 2028 (US$ Million)
Figure 19. Industrial Hard Margarine Market Revenue Share, By Application (2021 and 2028)
Figure 20. Bakery and Confectionery: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Cookies and Biscuits: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Cakes: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Flaky Pastries: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Other Bakery and Confectionery: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. RTE and RTC Food: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Meat and Dairy Substitutes: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Others: Global Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Global Industrial Hard Margarine Market Revenue Share, By Region (2021 and 2028)
Figure 29. North America: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. North America: Industrial Hard Margarine Market Revenue Share, By Type (2021 and 2028)
Figure 31. North America: Industrial Hard Margarine Market Revenue Share, by Application (2021 and 2028)
Figure 32. North America: Industrial Hard Margarine Market Revenue Share, by Key Country (2021 and 2028)
Figure 33. US: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 34. Canada: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 35. Mexico: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 36. Europe: Industrial Hard Margarine Market Revenue Share, by Key Country (2021 and 2028)
Figure 37. Germany: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 38. France: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 39. Italy: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 40. Spain: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 41. Poland: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 42. Slovakia: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 43. Romania: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 44. Czech Republic: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 45. Hungary: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 46. Belgium: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 47. Netherlands: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 48. Rest of Europe: Industrial Hard Margarine Market– Revenue and Forecast to 2028 (US$ Million)
Figure 49. Asia Pacific: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. Asia Pacific: Industrial Hard Margarine Market Revenue Share, By Type (2021 and 2028)
Figure 51. Asia Pacific: Industrial Hard Margarine Market Revenue Share, by Application (2021 and 2028)
Figure 52. Asia Pacific: Industrial Hard Margarine Market Revenue Share, by Key Country (2021 and 2028)
Figure 53. China: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 54. Japan: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 55. India: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 56. Australia: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 57. South Korea: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 58. Rest of Asia Pacific: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 59. South and Central America: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 60. South and Central America: Industrial Hard Margarine Market Revenue Share, By Type (2021 and 2028)
Figure 61. South and Central America: Industrial Hard Margarine Market Revenue Share, by Application (2021 and 2028)
Figure 62. South and Central America: Industrial Hard Margarine Market Revenue Share, by Key Country (2021 and 2028)
Figure 63. Brazil: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 64. Argentina: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 65. Rest of South and Central America: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 66. Middle East and Africa: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 67. Middle East and Africa: Industrial Hard Margarine Market Revenue Share, By Type (2021 and 2028)
Figure 68. Middle East and Africa: Industrial Hard Margarine Market Revenue Share, by Application (2021 and 2028)
Figure 69. Middle East and Africa: Industrial Hard Margarine Market Revenue Share, by Key Country (2021 and 2028)
Figure 70. Saudi Arabia: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 71. UAE: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 72. South Africa: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 73. Rest of Middle East and Africa: Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Figure 74. Impact of COVID-19 Pandemic on North America Industrial Hard Margarine Market
Figure 75. Impact of COVID-19 Pandemic on Europe Industrial Hard Margarine Market
Figure 76. Impact of COVID-19 Pandemic on Asia Pacific Industrial Hard Margarine Market
Figure 77. Impact of COVID-19 Pandemic on the Middle East & Africa Industrial Hard Margarine Market
Figure 78. Impact of COVID-19 Pandemic on South & Central America Industrial Hard Margarine Market
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global industrial hard margarine market, thereby allowing players to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
The List of Companies – Industrial Hard Margarine Market
• Vandemoortele NV
• Bunge Ltd
• Puratos NV
• NMGK Group of Co
• Fuji Oil Co Ltd
• Wilmar International Ltd
• Nubeser Soluciones SLU
• Cardowan Creameries Ltd
• AAK AB
• Eccelso Ltd
The scope of our recent study on the “Industrial Hard Margarine Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application” includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments. The report also provides a market share analysis.
The industrial hard margarine market is expected to grow from US$ 2,414.51 million in 2022 to US$ 2,869.63 million by 2028; it is estimated to register a CAGR of 2.9% from 2022 to 2028.
Industrial hard margarine is majorly used as a shortening in bakery products such as cakes, pastries, biscuits and cookies, and bread and rolls. It improves the texture of bakery products and keeps them soft, fresh, and tender. Moreover, margarine increases the volume of bakery products by preventing the cross-linking of gluten molecules when liquid is added. Additionally, margarine is cheaper than butter which increases its popularity among industrial bakers because it produces high-quality products at low cost. Margarine is usually produced by hydrogenating vegetable oils such as palm oil, sunflower oil, canola oil, and safflower oil. For the production of hard/stick margarine, the hydrogenation process is carried out for a longer period of time. Hard margarine has more oxidative stability and shelf life than other kinds of margarine, which is why food manufacturers prefer it. The rising demand for industrial hard margarine in the global bakery & confectionery industry is driving the market.
Based on application, the industrial hard margarine market is segmented into bakery and confectionery, RTE and RTC food, meat and dairy substitutes, and others. The bakery and confectionery segment is subsegmented into cookies and biscuits, cakes, flaky pastries, and other bakery and confectionery. The bakery and confectionery segment held the largest market share in 2022 and is expected to register the highest CAGR during the forecast period. Increasing purchasing power and changing eating habits of people have led to the increasing popularity of bakery and confectionery products among the masses. Bakery products such as biscuits account for a major share of the total bakery products produced worldwide. The bakery sector includes cakes, puffs, and frozen bakery products. Hard margarine is an integral baking ingredient as it provides tenderness, improved texture, and a better sensory profile and increases the nutritional value of food.
The industrial hard margarine market is segmented into five main regions—North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. North America held the largest market share in 2021, and Asia Pacific is expected to register the highest CAGR during the forecast period. The market growth in Asia Pacific is attributed to the growing food & bakery industry, increasing demand for low-cost alternatives for butter, and changing consumer preference for healthier alternatives. The region holds promising growth potential for the industrial hard margarine market players due to the flourishing food industry and rising foreign investment. The demand for industrial hard margarine products is growing with the rise in popularity of the western diet and increased requirement for ready-to-eat and ready-to-cook products in China, India, Japan, and other countries in Asia Pacific.
Impact of COVID-19 Pandemic on Industrial Hard Margarine Market
The COVID-19 pandemic affected economies and industries in various countries across the globe. Lockdowns, travel restrictions, and business shutdowns in North America, Europe, Asia Pacific (APAC), South & Central America, and the Middle East & Africa (MEA) hampered the growth of several industries, including the food & beverages industry. The shutdown of manufacturing units disrupted global supply chains, manufacturing activities, delivery schedules, and essential and nonessential product sales. Various companies witnessed delays in product deliveries and a slump in sales of their products in 2020. Moreover, the bans imposed by governments of various countries in Europe, Asia Pacific (APAC), and North America on international travel compelled companies to temporarily discontinue their collaboration and partnership plans. All these factors hampered various industries in 2020 and early 2021, thereby restraining the growth of various markets, including the industrial hard margarine market.
Rising demand for margarine as a low-cost alternative to butter, growing requirement for margarine from the food industry in emerging economies, and increasing consumer enthusiasm toward adopting a healthy lifestyle were the key factors that boosted the growth of the industrial hard margarine market. Before the onset of the COVID-19 outbreak, the industrial hard margarine market was also driven by the rising consumption of bakery products and growing demand for affordable, sustainable, and healthier ingredients by food manufacturers. However, industries experienced unprecedented challenges after the onset of the COVID-19 pandemic in 2020, including supply chain constraints caused by nationwide lockdowns, trade bans, and travel restrictions. The supply chain disruptions created a shortage of raw materials, which affected the production and distribution of various products, leading to increased prices.
In 2021, various economies resumed operations as governments of various countries announced relaxation in the previously imposed restrictions, which boosted the global marketplace. Further, manufacturers were permitted to operate at full capacity, which helped them overcome the demand and supply gap and other repercussions.
Further, the COVID-19 pandemic had a long-term favorable impact on the industrial hard margarine market as the food processing industries observed a remarkable growth owing to rising demand for process and convenience food. The growing adoption of industrial hard margarine by food manufacturers to replace butter with a low trans-fat substitute fueled the market growth. Consumers gravitated toward a healthy lifestyle and increased adoption of healthy food options due to the rising number of COVID-19 patients. Due to the COVID-19 pandemic, consumers have been increasingly attentive to their health and wellness. Furthermore, the market witnessed an increased demand for food products with high clean ingredients used in them, which boosted the sales of industrial hard margarine. As consumers’ focus increased on finding healthier alternatives during the pandemic, the need for industrial hard margarine also grew globally.
1.1.1 Industrial Hard Margarine Market Breakdown – by Region
The report segments the industrial hard margarine market as follows:
Based on type, the industrial hard margarine market is segmented into spreadable, all-purpose, and butter blend. The industrial hard margarine market, by application, is segmented into bakery and confectionery, RTE and RTC food, meat and dairy substitutes, and others. The bakery and confectionery segment is subsegmented into cookies and biscuits, cakes, flaky pastries, and other bakery and confectionery. Based on geography, the industrial hard margarine market is segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.
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