The Middle East & Africa industrial hard margarine market is expected to grow from US$ 99.24 million in 2022 to US$ 119.95 million by 2028. It is estimated to grow at a CAGR of 3.2% 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 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.
Middle East & Africa Industrial Hard Margarine Market Overview
The Middle East & Africa industrial hard margarine market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The food industry is growing rapidly in the Middle East as a result of the proliferating tourism industry, changes in demographics, and shifts in consumer dietary habits. It has led to increased demand for industrial hard margarine, which is required to produce confectionery, bakery, and other ready-to-eat food products. In addition, the demand for industrial hard margarine has surged as food industries are looking for low-cost alternatives for butter used to prepare various products. Industrial margarine can be utilized for various applications where butter is generally used, such as grilling, baking, and seasoning. Moreover, rapidly developing food and beverages industry in Africa coupled with growing consumption of nutritive convenience and fortified food has surged the demand for industrial hard margarine. In addition, rising focus of food manufacturers on developing innovative and healthy food ingredients is likely to attribute the market growth. Thus, all these factors are anticipated to drive the industrial hard margarine market.
Middle East & Africa Industrial Hard Margarine Market Revenue and Forecast to 2028 (US$ Million)
Middle East & Africa Industrial Hard Margarine Market Segmentation
The Middle East & Africa industrial hard margarine market is segmented into type, application, and country.
Based on type, the Middle East & Africa 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 Middle East & Africa 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 Middle East & Africa industrial hard margarine market is segmented into Saudi Arabia, South Africa, the UAE, and Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the market in 2022.
Bunge Ltd; Puratos NV; Fuji Oil Co Ltd; AAK AB; and Wilmar International Ltd are the leading companies operating in the Middle East & Africa industrial hard margarine market.