Industrial Hard Margarine Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Spreadable, All-Purpose, Butter Blend) and Application

List of Tables

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.

Reasons to Buy:

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.

Product Code: TIPRE00029837

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