Industrial Hard Margarine Market Size & Share Analysis 2028
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 hydrogenating 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. The rising demand for hard margarine in the food & beverages industry for bakery and confectionery applications is significantly driving the market. Moreover, the rising consumption of packaged bakery products due to changing lifestyles and evolving consumer preferences is driving the industrial hard margarine market
In 2022, North America held the largest share of the industrial hard margarine market. The market in Asia Pacific is estimated to grow at the highest CAGR during the forecast period. Consumers are moving toward a healthy lifestyle and preferring products that provide health benefits, owing to the growing incidence 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.
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Industrial Hard Margarine Market: Strategic Insights
Market Size Value in US$ 2,414.51 million in 2022 Market Size Value by US$ 2,869.63 million by 2028 Growth rate CAGR of 2.9% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Industrial Hard Margarine Market: Strategic Insights
Market Size Value in | US$ 2,414.51 million in 2022 |
Market Size Value by | US$ 2,869.63 million by 2028 |
Growth rate | CAGR of 2.9% from 2022 to 2028 |
Forecast Period | 2022-2028 |
Base Year | 2022 |
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Speak to AnalystImpact 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.
Market Insights
Strategic Developments by Key Players Favor Industrial Hard Margarine Market Growth
In June 2022, AAK AB acquired the aquafaba-fueled plant-based 'Butter'' brand For A: Butter: It can act as a 1:1 replacement for dairy butter. Additionally, in June 2021, Bunge Loders Croklaan, the plant-based lipids business of Bunge (NYSE: BG), announced the plan to build a state-of-the-art, sustainable production facility in the Port of Amsterdam. Such strategic developments by key players in the market are expected to propel the growth of the industrial hard margarine market in the coming years.
Type Insights
Based on type, the industrial hard margarine market is segmented into spreadable, all-purpose, and butter blend. The all-purpose segment held the largest market share in 2022, and the spreadable segment is expected to register the highest CAGR during the forecast period. Spreadable margarine is a soft tub margarine made with less hydrogenated and more liquid oils than block margarine. It is typically composed of vegetable oils. Margarine spread has various applications, ranging from ready-to-eat products such as toast sandwiches and cakes to sponge production. Manufacturers offer spreadable margarine in different fat contents categorized as high-fat, medium-fat, low-fat, and very low-fat spreads. The low and very low-fat spreads are developed for ready-to-eat product applications. The industrial hard margarine market is witnessing several trends, including the development of flavored spreads, diet spreads, and balanced spreads.
Industrial Hard Margarine Market Report Scope
Application Insights
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.
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 major players operating in the industrial hard margarine market. These companies mainly focus on product innovation to expand their market size and follow emerging trends.
Report Spotlights
- Progressive industry trends in the industrial hard margarine market to help companies develop effective long-term strategies
- Business growth strategies adopted by market players in developed and developing countries
- Quantitative analysis of the market from 2022 to 2028
- Estimation of global demand for industrial hard margarine
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers in the industrial hard margarine market
- Recent developments to understand the competitive market scenario
- Market trends and outlook, and growth drivers and restraints in the industrial hard margarine market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest
- Size of the industrial hard margarine market at various nodes
- Detailed overview and segmentation of the market and growth dynamics of the industrial hard margarine industry
- Size of the industrial hard margarine market in various regions with promising growth opportunities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Belgium, Brazil, Canada, China, Czech Republic, France, Germany, Hungary, India, Italy, Japan, Mexico, Netherlands, Poland, Romania, Saudi Arabia, Slovakia, South Africa, South Korea, Spain, United Arab Emirates, United States
Frequently Asked Questions
Based on the application, bakery and confectionery segment is projected to grow at the fastest CAGR over the forecast period. Increasing purchasing power and changing eating habits of people has surged the growth of bakery and confectionery segment.
Margarine is traditionally produced by the hydrogenation of vegetable oils such as palm oil, canola oil, rapeseed oil, and safflower oil. Being a cheaper alternative to butter, it is widely used in the industrial-scale production of bakery products, which may allow manufacturers to lower the prices of their final products. With characteristics that are similar to butter, margarine improves the texture and stability of various bakery products, such as cakes, flaky pastries, cookies, biscuits, and croissants. Moreover, it is convenient to use and has a high shelf life. Margarine has less saturated fat content compared to butter. Moreover, it is free from any animal-derived ingredients. Nowadays, manufacturers are providing margarine that is free of palm oil, which is increasing their appeal among consumers.
North America accounted for the largest share of the global industrial hard margarine market. North America is one of the most significant regions for the industrial hard margarine market owing to consumers are moving toward a healthy lifestyle and preferring products that provide health benefits and well-established food industry.
Based on type, all-purpose segment mainly has the largest revenue share. The growth of the segment is attributed to its characteristic features such as softness, aroma, and creaminess. The ingredients provide the all-purpose margarine with a uniform structure and a smooth crust.
The major players operating in the global industrial hard margarine market are 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.
Manufacturers are also developing new technologies to launch palm-free margarine with no undesirable flavors. Rapeseed oil and other alternatives to palm oil are associated with various challenges, including intense organoleptic properties, high oxidation potential, and individual processing requirements. In March 2021, Grüninger AG, a Swiss producer of industrial and commercial margarine, developed a new technology to launch palm-free, vegan/vegetarian margarine, in which off-note flavors are effectively masked. The new process developed by Grüninger AG helps in masking the undesirable flavors of palm oil alternatives by using the natural antioxidant derived from rosemary extract. Such new technologies are expected to provide potential growth opportunities to the manufacturers of industrial hard margarine.
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
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 Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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