Asia: Margarine And Shortening Market 2025

Margarine And Shortening Market Size in Asia

In 2022, the Asian margarine and shortening market increased by 5.1% to $X, rising for the second year in a row after two years of decline. Overall, consumption continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 8.7% against the previous year. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in years to come.

Margarine And Shortening Production in Asia

In value terms, margarine and shortening production rose slightly to $X in 2022 estimated in export price. In general, production saw a noticeable reduction. The most prominent rate of growth was recorded in 2020 with an increase of 13% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Margarine And Shortening Exports

Exports in Asia

In 2022, overseas shipments of margarine and shortening increased by 6% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +42.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 35% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, margarine and shortening exports soared to $X in 2022. In general, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 74%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

Indonesia was the major exporting country with an export of about X tons, which amounted to 70% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a 13% share, followed by Turkey (6.1%). The following exporters - Singapore (X tons) and Kazakhstan (X tons) - each reached a 6.6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to margarine and shortening exports from Indonesia stood at +7.9%. At the same time, Kazakhstan (+26.6%), Singapore (+6.5%), Turkey (+2.7%) and Malaysia (+1.7%) displayed positive paces of growth. Moreover, Kazakhstan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +26.6% from 2012-2022. While the share of Indonesia (+10 p.p.) and Kazakhstan (+2.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (-2.5 p.p.) and Malaysia (-6.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest margarine and shortening supplier in Asia, comprising 66% of total exports. The second position in the ranking was held by Malaysia ($X), with a 13% share of total exports. It was followed by Turkey, with a 7.4% share.

In Indonesia, margarine and shortening exports expanded at an average annual rate of +10.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+3.0% per year) and Turkey (+4.9% per year).

Export Prices by Country

In 2022, the export price in Asia amounted to $X per ton, surging by 16% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 when the export price increased by 29% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Kazakhstan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+2.4%), while the other leaders experienced more modest paces of growth.

Margarine And Shortening Imports

Imports in Asia

In 2022, imports of margarine and shortening in Asia rose remarkably to X tons, surging by 12% on the previous year. Over the period under review, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2021 when imports increased by 37% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

In value terms, margarine and shortening imports soared to $X in 2022. Overall, imports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2021 when imports increased by 65% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in years to come.

Imports by Country

China dominates imports structure, resulting at X tons, which was approx. 52% of total imports in 2022. It was distantly followed by Uzbekistan (X tons), constituting a 7.5% share of total imports. The following importers - Iraq (X tons), Kazakhstan (X tons), Singapore (X tons), Thailand (X tons), Vietnam (X tons), South Korea (X tons), the United Arab Emirates (X tons) and Georgia (X tons) - together made up 20% of total imports.

Imports into China increased at an average annual rate of +11.8% from 2012 to 2022. At the same time, Uzbekistan (+42.3%), Singapore (+19.4%), Kazakhstan (+9.4%), the United Arab Emirates (+8.1%), Thailand (+7.2%), Georgia (+6.1%), South Korea (+5.7%) and Vietnam (+3.0%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Asia, with a CAGR of +42.3% from 2012-2022. Iraq experienced a relatively flat trend pattern. While the share of China (+15 p.p.), Uzbekistan (+7.5 p.p.) and Singapore (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Iraq (-5.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported margarine and shortening in Asia, comprising 46% of total imports. The second position in the ranking was taken by Uzbekistan ($X), with a 7.4% share of total imports. It was followed by South Korea, with a 4.4% share.

In China, margarine and shortening imports expanded at an average annual rate of +14.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Uzbekistan (+52.7% per year) and South Korea (+11.3% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, surging by 19% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. The pace of growth was the most pronounced in 2021 an increase of 20%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was South Korea ($X per ton), while Iraq ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uzbekistan (+7.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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