South-Eastern Asia: Margarine And Shortening Market 2024

Margarine And Shortening Market Size in South-Eastern Asia

The Southeast Asian margarine and shortening market was estimated at $X in 2022, with an increase of 7.5% against the previous year. The total consumption indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.8% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Margarine And Shortening Production in South-Eastern Asia

In value terms, margarine and shortening production expanded slightly to $X in 2022 estimated in export price. Overall, production showed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of 93%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Margarine And Shortening Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of margarine and shortening increased by 4.1% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.5% 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 +41.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 36%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, margarine and shortening exports soared to $X in 2022. Overall, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 76%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Indonesia (X tons) was the main exporter of margarine and shortening, comprising 80% of total exports. It was distantly followed by Malaysia (X tons), creating a 14% share of total exports. Singapore (X tons) took a minor share of total exports.

Indonesia was also the fastest-growing in terms of the margarine and shortening exports, with a CAGR of +7.9% from 2012 to 2022. At the same time, Singapore (+6.5%) and Malaysia (+1.7%) displayed positive paces of growth. While the share of Indonesia (+9.7 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Malaysia (-8.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Indonesia ($X) remains the largest margarine and shortening supplier in South-Eastern Asia, comprising 77% of total exports. The second position in the ranking was held by Malaysia ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Indonesia amounted to +10.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (+3.0% per year) and Singapore (+6.2% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, increasing by 17% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2021 an increase of 30% against the previous year. Over the period under review, the export prices hit record highs in 2022 and is expected to retain 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 Singapore ($X per ton), while Indonesia ($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 mixed trends in the export price figures.

Margarine And Shortening Imports

Imports in South-Eastern Asia

Margarine and shortening imports rose remarkably to X tons in 2022, growing by 5.3% against the year before. Over the period under review, imports posted resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 33%. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, margarine and shortening imports skyrocketed to $X in 2022. In general, imports showed strong growth. The most prominent rate of growth was recorded in 2021 when imports increased by 45%. The level of import peaked in 2022 and is likely to see steady growth in the near future.

Imports by Country

The purchases of the four major importers of margarine and shortening, namely Singapore, Thailand, Vietnam and the Philippines, represented more than two-thirds of total import. It was distantly followed by Indonesia (X tons), committing a 6.7% share of total imports. The following importers - Malaysia (X tons) and Myanmar (X tons) - each accounted for an 8.1% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Singapore (with a CAGR of +19.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Thailand ($X) and the Philippines ($X) constituted the countries with the highest levels of imports in 2022, together comprising 67% of total imports.

Singapore, with a CAGR of +13.9%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, rising by 14% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached 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 Indonesia ($X per ton), while Myanmar ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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