The Europe industrial hard margarine market is expected to grow from US$ 719.52 million in 2022 to US$ 848.26 million by 2028. It is estimated to grow at a CAGR of 2.8% from 2022 to 2028.
Proliferation of European Bakery Industry is Driving the Industrial Hard Margarine Market
The bakery industry in Europe is well-established and mature in terms of product array, production infrastructure, retail landscape, regulations, and innovation platforms. Moreover, the industry is growing at a rapid pace with evolving consumer preferences, growing middle-class population, and changing consumption habits and lifestyles. Bakery products are the staple food among Europeans. The region holds a majority share of the global bakery industry with the presence of many small and large-scale artisanal and mass bakeries. According to the Atlantic Area Healthy Food Eco-System (AHFES) project funded by the Atlantic Area Program and the European Union (EU), the bakery industry in Europe was worth US$ 226 billion in 2020. Cakes, pastries, sweet and savory baked snacks, cookies, and biscuits are among the top-selling products across Europe. Sweet biscuits and cookies, followed by cakes, pastries, and other sweet bakery products, account for a majority of new product launches in the European bakery industry.
Europe Industrial Hard Margarine Market Overview
The Europe industrial hard margarine market is analyzed on the basis of several developed and developing economies, including Germany, France, Italy, the UK, Spain, and Russia. Many major global bakery and confectionery companies have prominent presence and operational facilities in Europe. These include Grupo Bimbo S.A.B. de C.V.; Nestlé SA; Campbell Soup Company; Burton's Biscuit Company; Lotus Bakeries NV; and Stroopwafel & Co. Bakery, confectioneries, and processed food industries have been growing continuously in Europe, fueled by the growing demand for convenience and ready-to-eat food products with the rising disposable income. In response to the changing consumer requirements, biscuit manufacturers and bakeries in Europe are significantly involved in research and development to expand their product portfolios and create product differentiation. In July 2022, Burton’s Biscuit Company launched the “Burton & Browne” brand with a range of six-portion pack products, namely, buttery shortbread dunker, fruity oat dunker, ginger snap dunker, triple chocolate chip dunker, chocolate orange florentines, and speculoos mini cookies. Moreover, the strategic launch of various products that are organic, gluten-free, and high-fiber biscuits and cookies, has helped manufacturers to expand their customer base. With such developments in the bakery industry, the demand for bakery raw materials has surged in Europe, which signifies the growth potential for the industrial hard margarine market in the region.
Europe Industrial Hard Margarine Market Revenue and Forecast to 2028 (US$ Million)
Europe Industrial Hard Margarine Market Segmentation
The Europe industrial hard margarine market is segmented into type, application, and country.
Based on type, the Europe 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 Europe 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 Europe industrial hard margarine market is segmented into Germany; France; Italy; Spain; Poland; Slovakia; Romania; Czechia; Hungary; Belgium; Netherlands; and Rest of Europe. The Rest of Europe dominated the market in 2022.
Vandemoortele NV; Bunge Ltd; Puratos NV; Fuji Oil Co Ltd; AAK AB; Nubeser Soluciones SLU; Cardowan Creameries Ltd; Eccelso Ltd; Wilmar International Ltd; and NMGK Group of Co are the leading companies operating in the Europe industrial hard margarine market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 719.52 Million |
| Market Size by 2028 | US$ 848.26 Million |
| CAGR (2022 - 2028) | 2.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered |
Europe
|
| Market leaders and key company profiles |
|
The Europe Industrial Hard Margarine Market is valued at US$ 719.52 Million in 2022, it is projected to reach US$ 848.26 Million by 2028.
As per our report Europe Industrial Hard Margarine Market, the market size is valued at US$ 719.52 Million in 2022, projecting it to reach US$ 848.26 Million by 2028. This translates to a CAGR of approximately 2.8% during the forecast period.
The Europe Industrial Hard Margarine Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Industrial Hard Margarine Market report:
The Europe Industrial Hard Margarine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Industrial Hard Margarine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Industrial Hard Margarine Market value chain can benefit from the information contained in a comprehensive market report.
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