The global margarine and shortening market is expected to witness an exponential CAGR in the upcoming period. This could be credited to the fact that margarine proves to be an excellent substitute to butter. At the same time, shortening that comes across as fat derived from semi-solid plants could also replace butter conveniently.
The largest end-user to margarine and shortening market is the bakery industry. The name “shortening” has been derived from outcome on adding oils and fats to the baked products. Shortening ensures that the final product is simple to eat. This makes shortening inevitable in pie crusts. Besides, the end products do stay soft post cooling on shortening.
North America and Europe are already on the verge of saturation with respect to margarine and shortening. Asia Pacific is ruling the roost as of now and is expected to continue with its winning streak in the near future as well. This could be attributed to Vietnam being the torchbearer. India and China come second and third respectively. LATAM is catching up due to Brazil emerging as a strong contender with regards to industrial revolution.
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Asia Pacific holds the largest market share; thanks to production of margarine and shortening being the highest in Vietnam. Ho Chi Minh and Quang Ninh are the regions boosting the production.
The players contributing to the market include Tan Binh Vegetable Oil, Tuong An Vegetable Oil, Golden Hope Nha Be, Cai Lan Oils and Fats Industries.
Research Support Specialist, USA
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