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 & Con

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]

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.

Margarine is specifically an emulsion of water and fat resembling butter in appearance, characteristics, and composition. The fatty phase is a mixture of vegetable oils and fats such as soybean oil, corn oil, or safflower oil, and the aqueous phase is skimmed milk, water, or a mixture of the two. Generally, hard or stick margarine contains 80% fat, 16% water, or skimmed milk. All the raw materials are weighed in the required proportion and sent for further processing. Industrial hard margarine finds a wide range of applications in bakery and confectionery products such as cookies and biscuits; cakes; flaky pastries, including puff, choux, filo, and short crust; and dairy and non-dairy products. Hard margarine is a widely used shortening in the baking industry as it improves the texture and plasticity of baked goods. It is also used in ready-to-cook and ready-to-eat meals, sweet and savory snacks, and meat and meat substitutes as a substitute for butter. 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.

Moreover, due to the growing popularity of veganism in Europe, the demand for industrial margarine is expected to increase significantly over the forecast period. According to Google Trends report, the UK had the highest number of searches for veganism and vegan diet in 2021. Plant-based food benefits 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. The rising veganism trend in Europe is driving the demand for plant-based food and ingredients. Margarine is made with vegetable oils and fats and is often free of animal-based ingredients. With rising demand for plant-based food, the need for industrial hard margarine is also expected to increase during the forecast period, propelling the Europe industrial hard margarine market growth.

Based on application, the industrial hard margarine market is segmented into bakery & confectionery, RTE & RTC food, meat & dairy substitutes, and others. The bakery & confectionery segment held the largest market share in 2022. The rising demand for specialty bakery products such as croissants, Danish pastries, puff pastries, cakes, and savory cookies is driving the demand for industrial hard margarine in Europe. 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. Further, the demand for vegan bakery products has increased due to the rising trend of veganism across Europe. This factor is likely to drive the Europe industrial hard margarine market over the forecast period.

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. Players operating in the Europe industrial hard margarine market are adopting different strategies, such as investments in research and development activities and new product launches, to emerge as strong competitors in the market. Market players are highly focused on the development of high-quality and innovative product offerings to fulfill customers’ requirements.

The overall Europe industrial hard margarine market size has been derived using both primary and secondary source. 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, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the Europe industrial hard margarine market.

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