North America Industrial Hard Margarine Market Forecast to 2028 - COVID-19 Impact and Regional 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]
The North America industrial hard margarine market is expected to grow from US$ 807.65 million in 2022 to US$ 931.77 million by 2028. It is estimated to grow at a CAGR of 2.4% from 2022 to 2028.
Rising Demand for Margarine as a Low-Cost Alternative to Butter is Driving the Industrial Hard Margarine Market
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. Hard margarine has a high 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 globally 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 growth of the industrial hard margarine market.
North America Industrial Hard Margarine Market Overview
The market in North America includes developed countries such as US and Canada and developing countries such as Mexico. North America accounts a remarkable share of the industrial hard margarine market 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.
North America Industrial Hard Margarine Market Revenue and Forecast to 2028 (US$ Million)
North America Industrial Hard Margarine Market Segmentation
The North America industrial hard margarine market is segmented into type, application, and country.
Based on type, the North America industrial hard margarine market is sub segmented into spreadable, all-purpose, and butter blend. The all-purpose segment held the largest market share in 2022.
Based on application, the North America industrial hard margarine market is segmented into [bakery and confectionery (cookies and biscuits, cakes, flaky pastries, and other bakery and confectionery), RTE and RTC food, meat and dairy substitutes, and others]. The bakery and confectionery segment held the largest market share in 2022.
Based on country, the North America industrial hard margarine market is segmented into the US, Canada, and Mexico. The US dominated the market in 2022.
Vandemoortele NV; Bunge Ltd; Puratos NV; Fuji Oil Co Ltd; and AAK AB are the leading companies operating in the North America industrial hard margarine market.
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. North America 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. North America 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
5.2 Market Opportunities
5.2.1 Product Innovation to Address Concerns Related to Margarine Ingredients
5.3 Impact Analysis of Drivers and Restraints
6. Industrial Workwear and Gear – North America Market Analysis
6.1 North America Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Industrial Hard Margarine Market Analysis – By Type
7.1 Overview
7.2 North America Industrial Hard Margarine Market, By Type (2021 and 2028)
7.3 Spreadable
7.3.1 Overview
7.3.2 Spreadable: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
7.4 All-Purpose
7.4.1 Overview
7.4.2 All-Purpose: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
7.5 Butter Blend
7.5.1 Overview
7.5.2 Butter Blend: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Industrial Hard Margarine Market Analysis – By Application
8.1 Overview
8.2 North America Industrial Hard Margarine Market, By Application (2021 and 2028)
8.3 Bakery and Confectionery
8.3.1 Overview
8.3.2 Bakery and Confectionery: North America 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: North America 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: North America 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: North America 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: North America 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: North America 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: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Industrial Hard Margarine Market – Country Analysis
9.1 Overview
9.1.1 North America: Industrial Hard Margarine Market, by Key Country
9.1.1.1 US: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Industrial Hard Margarine Market, By Type
9.1.1.1.2 US: Industrial Hard Margarine Market, by Application
9.1.1.2 Canada: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Industrial Hard Margarine Market, By Type
9.1.1.2.2 Canada: Industrial Hard Margarine Market, by Application
9.1.1.3 Mexico: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Industrial Hard Margarine Market, By Type
9.1.1.3.2 Mexico: Industrial Hard Margarine Market, by Application
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 Vandemoortele NV
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Bunge Ltd
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Puratos NV
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Fuji Oil Co Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 AAK AB
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
12. Appendix
12.1 About The Insight Partners
12.2 Word Index
LIST OF TABLES
Table 1. North America Industrial Hard Margarine Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Industrial Hard Margarine Market, Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 4. Canada Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Mexico Industrial Hard Margarine Market, By Type – Revenue and Forecast to 2028 (US$ Million)
Table 7. Mexico Industrial Hard Margarine Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Industrial Hard Margarine Market Segmentation
Figure 2. North America Industrial Hard Margarine Market Segmentation – By Country
Figure 3. North America Industrial Hard Margarine Market Overview
Figure 4. All-Purpose Segment Held the Largest Market Share in 2021
Figure 5. US Held the Largest Market Share in 2021
Figure 7. Porter's Five Forces Analysis
Figure 8. Ecosystem: North America Industrial Hard Margarine Market
Figure 9. Expert Opinion
Figure 10. North America Industrial Hard Margarine Market Impact Analysis of Drivers and Restraints
Figure 11. North America: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Industrial Hard Margarine Market Revenue Share, By Product Type (2021 and 2028)
Figure 13. Spreadable: North America Industrial Hard Margarine Market – Revenue and Forecast To 2028 (US$ Million)
Figure 14. All-Purpose: North America Industrial Hard Margarine Market – Revenue and Forecast To 2028 (US$ Million)
Figure 15. Butter Blend: North America Industrial Hard Margarine Market – Revenue and Forecast To 2028 (US$ Million)
Figure 16. North America Industrial Hard Margarine Market Revenue Share, By Application (2021 and 2028)
Figure 17. Bakery and Confectionery: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Cookies and Biscuits: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Cakes: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Flaky Pastries: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Other Bakery and Confectionery: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. RTE and RTC Food: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Meat and Dairy Substitutes: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Others: North America Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. North America: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. North America: Industrial Hard Margarine Market Revenue Share, by Key Country (2021 and 2028)
Figure 27. US: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Canada: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Mexico: Industrial Hard Margarine Market – Revenue and Forecast to 2028 (US$ Million)
- Vandemoortele NV
- Bunge Ltd
- Puratos NV
- Fuji Oil Co Ltd
- AAK AB
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North 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 North America Industrial hard margarine market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the Industrial hard margarine market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution