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Changes in Palm Stearin Market Revenue and growth rate during COVID-19 crisis – Lake Shore Gazette

Changes in Palm Stearin Market Revenue and growth rate during COVID-19 crisis

Palm Stearin Market Introduction:

There has been tremendous development in the global food and beverages industry in the recent past years. Palm oil is one of the most popular vegetable oil and is derived from mesocarp of the fruit of palm fruit. Palm stearin is a cheap source of natural vegetable fat used across a wide application range in food industry. Palm stearin is a solid fraction and is derived from palm oil through the process of partial crystallization at controlled temperature. Palm stearin is widely used in the production of bakery fats such as margarines shortenings, vanspati and other products.  Apart from applications in food industry palm stearin is also used across personal care industry.  The global palm stearin market is expected to witness significant growth in the near future attributable to its escalating applications in food industry.

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Palm Stearin Market Segmentation:

The global palm stearin market is segmented on the basis of product type, palm stearin market can be segmented into, soft stearin and hard stearin. Soft palm stearin is a semisolid version of palm stearin while the hard stearin is solid fraction of palm stearin. Soft palm stearin is used as a versatile natural ingredient in manufacturing of tub margarine and cocoa butter equivalent (CBE) manufacturing.  On the basis of application the global palm stearin market can be segmented into, food and beverages industry, personal care and cosmetic industry, agrochemical industry, energy and biomass industry. The food and beverages industry can be segmented into, bakery products, confectionary products, dairy products, salad dressing, breads and cereals and others. Bakery and confectionary industry segments are expected to account for significant highest revenue generation in the global palm stearin market. In bakery and confectionery products palm stearin is used as filling and coating fat. Palm stearin also finds its applications as an alternative fuel oils (biodiesel), in soaps, lubricants, surfactants, advanced detergents, paints dyes, insecticides and other industries.

Palm Stearin Market Regional Outlook:

On the basis of the region the global palm stearin market is segmented into, North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan and the Middle East and Africa.  Palm oil is one of the highly produced vegetable oil worldwide with its production concentrated across Asia pacific. This includes countries such as, Indonesia, Malaysia, Thailand, and others. Other prominent producer of palm oil are Colombia, Nigeria, papua and others. The Europe market is expected to hold significant market share in the palm stearin market over the forecast period. China, India Pakistan are one of the largest consumers of palm oil and its fraction across the globe.

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Palm Stearin Market Drivers and Trends

Growing demand packaged food products is expected to contribute towards the escalating market revenue in the global palm stearin market. Changing lifestyle, increasing demand for convince based food products health conscious consumers have led to other areas of applications for palm oil and its fractions. Increasing demand for fats and oils across several industrial domains is further expected to escalate the palm stearin market growth over the forecast period. Furthermore, rising chocolate consumption across the globe has contributed towards the market growth of palm stearin. Palm and palm kernel-based specialty fats are widely used in confectionary industry because of excellent gloss retention and flavor release.

Palm Stearin Market Key Players:

  •  IOI Loders Croklaan
  • Ciranda.
  • Wilmar International Ltd.
  • Natural Habitats Group
  • Fuji Oil Holdings Inc.
  • Cargill, Incorporated
  • Manorama Group

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