Rising Demand for Margarine as Low-Cost Alternative to Butter
According to our latest market study on “Europe Industrial Hard Margarine Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type and Application,” the Europe industrial hard margarine market size is expected to grow from US$ 719.52 million in 2022 to US$ 848.26 million by 2028; it is estimated to register a CAGR of 2.8% from 2022 to 2028. The report highlights key factors driving the market and prominent players along with their developments in the market.
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 kinds of margarine such as soft/tub margarine and liquid margarine. The rising demand for hard margarine for bakery and confectionery applications in the food & beverage industry in Europe is significantly driving the industrial hard margarine market growth. In addition, rising consumption of packaged bakery products due to changing lifestyles and evolving consumer preferences is boosting the Europe industrial hard margarine market growth.
Europe Industrial Hard Margarine Market Breakdown – by Region
Europe Industrial Hard Margarine Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Spreadable, All-Purpose, and Butter Blend) and Application [Bakery & Confectionery (Cookies & Biscuits, Cakes, Flaky Pastries, and Other Bakery & Confectionery), RTE & RTC Food, Meat & Dairy Substitutes, and Others]
Europe Industrial Hard Margarine Market to Grow at a CAGR of 2.8% to reach US$ 848.26 million from 2022 to 2028
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Hard margarine has a higher oxidative stability than other types of margarine, making 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 several initiatives to reduce the cost of their products to make them accessible to all consumer groups. Therefore, the increasing preference for industrial hard margarine is driving the Europe industrial hard margarine market growth.
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 a few of the major players operating in the Europe industrial hard margarine market. These players are highly focused on the development of high-quality and innovative product offerings to fulfill the customers’ requirements.
Impact of COVID-19 Pandemic on Europe Industrial Hard Margarine Market
The COVID-19 pandemic had an adverse effect on the manufacturing activities of the industrial hard margarine industry due to the restrictions imposed by government authorities in various European countries, including France, Germany, Italy, Spain, Poland, and the Netherlands. Moreover, the shutting down of food service outlets due to lockdowns and travel restrictions during the initial months of the crisis hampered the sales of various ingredients used in food preparation and baking, including hard margarine. Further, the retail sales of bakery products reduced as supermarket chains remained closed in the first quarter of 2020, which hindered the growth of the industrial hard margarine market across Europe. However, as governments of European countries allowed the manufacturing and sale of essential goods during lockdowns, the sale of bakery products grew. People also started stocking up their pantries as a result of panic buying due to the pandemic in the first half of 2020. These factors supported the growth of the industrial hard margarine market in Europe. However, due to supply chain disruptions and raw material shortages, there was a production shortfall which led to the demand and supply gap.
In 2021, the manufacturers were permitted to operate at full capacity, which helped them to overcome the demand and supply gap. Further, as supply chains improved, raw material sourcing became easy, thus boosting the production of industrial hard margarine and driving the Europe industrial hard margarine market growth.
The report includes the segmentation of the Europe industrial hard margarine market as follows:
Based on type, the Europe industrial hard margarine market is segmented into spreadable, all-purpose, and butter blend. Based on application, the market is categorized into bakery & confectionery, RTE & RTC food, meat & dairy substitutes, and others. The bakery & confectionery segment is further segmented into cookies & biscuits, cakes, flaky pastries, and other bakery & confectionery. By country, the Europe industrial hard margarine market is segmented into Germany, France, Italy, Spain, Poland, Slovakia, Romania, Czech Republic, Hungary, Belgium, the Netherlands, and the Rest of Europe.
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