At 2.4% CAGR, the North America Industrial Hard Margarine Market is projected to be worth US$ 931.77 Million by 2028, says Business Market Insights   

According to Business Market Insights’ research, the North America industrial hard margarine market was valued at US$ 807.65 million in 2022 and is expected to reach US$ 931.77 million by 2028, registering a CAGR of 2.4% from 2022 to 2028. Product innovation to address concerns related to margarine ingredients and rising demand for margarine as a low-cost alternative to butter are the critical factors attributed to the North America industrial hard margarine market expansion.   

Consumers are becoming increasingly conscious about what they eat. They are paying more attention to product labels owing to their preference for products with cleaner ingredients. Moreover, they avoid food with higher fat and calorie content to achieve their health goals. Margarine manufacturers are developing innovative products with improved quality and label claims to address the rising concerns related to the presence of trans fat, palm oil, and animal-based ingredients The product is free from trans-fat, palm oil, and genetically modified organisms (GMOs).

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.

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 59.0% market share in 2022, amassing US$ 476.84 million. It is projected to garner US$ 530.47 million by 2028 to expand at 1.8% CAGR during 2022–2028.  

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 84.2% market share in 2022, amassing US$ 679.74 million. It is projected to garner US$ 787.51 million by 2028 to expand at 2.5% CAGR during 2022–2028.     

Based on country, the North America industrial hard margarine market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 79.2% market share in 2022. It was assessed at US$ 639.26 million in 2022 and is likely to hit US$ 734.01 million by 2028, exhibiting a CAGR of 2.3% during the forecast period.  

Key players dominating the North America industrial hard margarine market are 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.

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