New York, December, 2022: Axiom Market Research & Consulting added a report on the Europe industrial margarine market, which includes studies on the basis of product, distribution channel, end-users, and across various countries and key regions across Europe. The European industrial margarine market was valued at USD 2,352 Million in 2022 and is projected to grow at a CAGR of 3.86 % for the forecast period of 2023 to 2029. The Europe market is estimated and forecasted in terms of revenue (USD Million) generated by the industrial margarine market.
Margarine is an emulsion of vegetable oils and fats with water. Margarine is traditionally obtained from vegetable oils through the hydrogenation process and it is much less expensive as compared to butter, which is why it is most preferred in the food industry as well so that the manufacturing cost can be reduced. Industrial margarine is widely used for bread and confectionery goods in the food industry. Margarine serves as an emulsifier, giving the finished product organoleptic properties and extending shelf life. Plant base industrial margarine market is growing due to the changing preference for plant-based foods in recent years. The growing awareness about the benefits of vegetarian and vegan diets is anticipated to further boost the industrial margarine market. Thus, due to growing demand the key companies are focusing on providing innovative plant based margarine.
The report analyses the European industrial margarine market based on type, form, source, application, and region. Further, on the basis of type, the market is segmented into spreadable, and all purpose, butter blend. Based on form, the market is studied across hard, and soft. Industrial margarine market sources are plant, and animal. The industrial margarine market finds its application in bakery and confectionery, spreads, sauces, and toppings, convenience food, and desert. Based on geography, the market is studied across the United Kingdom, Germany, France, Spain, Italy, Netherland, Hungary, Belgium, and Rest of the Europe. Among these regions, Germany holds the major share during the forecast period.
The spreadable margarine has a superior spreadability than butter hence, spreadable type margarine is exceedingly preferred by most consumers. Also, it is less expensive, and industrial margarine is used to a great extent as it is less costly than butter. Industrial margarine is used as a bread spread and to toast. Therefore, due to these key advantages, margarine spreads are becoming increasingly popular, and due to this factor, the spreadable segment is expected to lead the market over the forecast period. Also, as consumer awareness regarding consumption of healthy food is increasing at a high rate, many brands are using it as a low fat spread sourced from healthy oils and it is a key factor that is anticipated to provide new growth opportunities for several players in the market.
Hard form of industrial margarines are used as a substitute for butter in the form of a non-dairy based spreader in the food industry. Hard industrial margarines have a smoke point of around 302°f (150°c), and a fire point of around 700°f (371°c). It is similar to butter in hardness and is generally packaged in paper wrapping. Hard block margarine is used for baking, frying, and spreading purposes. It finds a wide range of applications in food industry, which includes bakery, confectionary, cake, pastry etc. which increases its demand in the overall market. Therefore, the hard industrial margarine segment is expected to lead the market over the projected time period. A harder margarine is used in the bakery industry and a still harder margarine with a high melting point is used in puff pastry to facilitate rolling into the dough. It has the ability to add functional ingredients and flavours to food products, this is one of the key drivers, which is expected to fuel the growth of the segment.
The plant-based margarines also contain other ingredients such as natural or artificial flavorings, colorings, salt, etc. Thus, most of the plant-based margarines do not contain animal products, which makes it a suitable vegan alternative to butter. Excess fat consumption can increase the risk of obesity and heart disease. Consumers are switching to plant-based margarines in order to maintain their long-term health. As a result, plant-based margarines are expected to dominate the market over the estimated time period. Also, since COVID-19, more people are becoming more aware of their health and fitness, and are preferring healthier alternatives, which include plant-based alternatives. This is expected to provide new opportunities for key players in the market.
Bakery products are considered items of mass consumption due to their low price and high nutritional value. With rapid growth and changing eating habits, bakery products have gained popularity among the public. Margarine can be used as a substitute for butter, and it is particularly useful in baking, since it gives baked goods a softer texture than butter, which some people prefer. Margarine can also be used to improve the eating quality of products, which helps prolong shelf life, and makes fillings and icing creamier. It is used in bakeries to produce a wide range of confectioneries such as puff pastries, cakes, croissants, etc. Thus, the bakery and confectionery segment is expected to lead the market over the projected time period.
Germany is expected to emerge as a dominant sector in the forecast period. Increasing demand for semi-finished products due to changing lifestyles is expected to boost the demand for industrial margarine in European countries. Mainly due to the growing consumer inclination towards healthy foods and semi-finished products and increasing health disorders and obesity in Germany, Spain, Italy, France expected to increase the demand for industrial margarine market. The growing food industry in various developing economies is expected to accelerate the demand for margarine across the industry.
The key competitors in the market include Puratos (Belgium), Fuji Oil Europe (Japan), Associated British Foods plc. (United Kingdom), NMGK Group (Russia), Vandemoortele (Belgium), EFKO Group (Russia), Bunge Limited (United States), Royale Lacroix SA (Belgium), Aigremont (Belgium).
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