Palm Stearin Market: Introduction
There has been tremendous development in the global food and beverage industry in recent past years. Palm oil is one of the most popular vegetable oil and is derived from the mesocarp of the fruit of palm fruit. Palm stearin is a cheap source of natural vegetable fat used across a wide application range in the food industry. Palm stearin derived from the palm oil by processing the oil at controlled temperature with the partial crystallization method, then the solid fraction of the palm oil is derived called palm stearin. Palm stearin has various applications in the food industry which includes the production of bakery fats like Vanaspati and margarine shortenings.
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Palm Stearin Market: Dynamics
Growing demand for packaged food products is expected to contribute towards increasing demand for palm stearin across the globe. Changing the lifestyle of the consumers has led to an increased demand for convenience food products.
The palm oil and its fractions have various applications in food preparations for the health-conscious consumers across the globe. Increasing demand for fats and oils across several industrial domains is further expected to boost the growth of the global palm stearin market over the forecasted period.
Furthermore, rising chocolate consumption across the globe has contributed to the market growth of palm stearin. Palm and palm kernel-based specialty fats are widely used in the confectionery industry because of excellent gloss retention and flavor release, these factors are responsible for boosting the growth of the global palm stearin market.
Palm Stearin Market: Segmentation
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Palm Stearin Market: Regional Outlook
Palm oil is one of the highly produced vegetable oil worldwide with its production concentrated across Asia pacific. The major palm oil-producing countries include Indonesia, Malaysia, Thailand, and others. Other prominent producers of palm oil are Colombia, Nigeria, Papua New Guinea, and others.
The European market is projected to hold significant market share in the palm stearin market over the forecasted period. India, European Union, and China are the largest consumers of palm oil across the globe. It is estimated that these three countries consume nearly 50% of the world’s export of palm oil.
Palm Stearin Market: Key Players
The market participants operating in the global palm stearin market are identified across the value chain include IOI Loders Croklaan, Ciranda., Wilmar International Ltd., Natural Habitats Group, Fuji Oil Holdings Inc., Cargill, Incorporated, Manorama Group among the other palm stearin manufacturers.
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