Global Margarine And Shortening Market 2024

Margarine And Shortening Market Size

In 2022, the global margarine and shortening market increased by less than 0.1% to $X, rising for the second year in a row after six years of decline. Overall, consumption, however, recorded a mild shrinkage. Global consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Margarine And Shortening Production

In value terms, margarine and shortening production declined to $X in 2022 estimated in export price. Overall, production saw a perceptible curtailment. The pace of growth appeared the most rapid in 2021 when the production volume increased by 12%. Global production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Margarine And Shortening Exports

Exports

In 2022, global margarine and shortening exports expanded to X tons, growing by 2.3% on the previous year. The total export volume increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 17% against the previous year. The global exports peaked in 2022 and are likely to see gradual growth in the immediate term.

In value terms, margarine and shortening exports skyrocketed to $X in 2022. In general, total exports indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +4.4% 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 +74.0% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 40% against the previous year. Over the period under review, the global exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

In 2022, Indonesia (X tons) represented the major exporter of margarine and shortening, generating 31% of total exports. Belgium (X tons) ranks second in terms of the total exports with an 8.3% share, followed by the Netherlands (6.8%), Malaysia (5.5%), Germany (5.4%) and Russia (5%). Poland (X tons), the United States (X tons), Sweden (X tons), Turkey (X tons), Spain (X tons) and Canada (X tons) followed a long way behind the leaders.

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, Spain (+8.0%), Russia (+7.9%), Poland (+4.8%), Turkey (+2.7%), Malaysia (+1.7%), Canada (+1.6%) and Sweden (+1.4%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +8.0% from 2012-2022. Germany, the United States, the Netherlands and Belgium experienced a relatively flat trend pattern. From 2012 to 2022, the share of Indonesia and Russia increased by +11 and +1.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest margarine and shortening supplier worldwide, comprising 23% of global exports. The second position in the ranking was taken by Belgium ($X), with a 9.5% share of global exports. It was followed by the Netherlands, with an 8.7% share.

From 2012 to 2022, the average annual growth rate of value in Indonesia totaled +10.5%. In the other countries, the average annual rates were as follows: Belgium (+2.2% per year) and the Netherlands (+2.7% per year).

Export Prices by Country

In 2022, the average margarine and shortening export price amounted to $X per ton, increasing by 15% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2021 when the average export price increased by 19% against the previous year. The global export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+3.2%), while the other global leaders experienced more modest paces of growth.

Margarine And Shortening Imports

Imports

In 2022, approx. X tons of margarine and shortening were imported worldwide; surging by 9.1% against 2021. The total import volume increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 15%. Global imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, margarine and shortening imports surged to $X in 2022. Overall, total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +69.1% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 32% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

China represented the largest importer of margarine and shortening in the world, with the volume of imports resulting at X tons, which was approx. 22% of total imports in 2022. The following importers - France (X tons), Nigeria (X tons), the Netherlands (X tons), Germany (X tons), the UK (X tons), Uzbekistan (X tons), the United States (X tons), Poland (X tons), Chile (X tons) and Iraq (X tons) - together made up 32% 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%), Nigeria (+18.6%), the Netherlands (+8.9%), the UK (+7.9%) and the United States (+3.3%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in the world, with a CAGR of +42.3% from 2012-2022. Poland and Iraq experienced a relatively flat trend pattern. By contrast, Germany (-1.5%), France (-2.1%) and Chile (-8.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China, Uzbekistan, Nigeria and the Netherlands increased by +11, +3.1, +3 and +1.5 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported margarine and shortening worldwide, comprising 17% of global imports. The second position in the ranking was held by France ($X), with a 5.6% share of global imports. It was followed by Germany, with a 4.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China amounted to +14.6%. In the other countries, the average annual rates were as follows: France (+0.7% per year) and Germany (+1.3% per year).

Import Prices by Country

In 2022, the average margarine and shortening import price amounted to $X per ton, picking up by 18% against the previous year. Over the last decade, it increased at an average annual rate of +1.1%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Nigeria ($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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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