Vietnam Margarine & Shortening Market Size, Share, Growth, And Industry Analysis, By Type (Hard Margarine, Soft Margarine, Liquid Margarine, Powder Margarine), By Application (Instant Noodles, Confectionery, Bakery, Others), Regional Forecast By 2031

Updated On: 08 April 2024

Vietnam Margarine & Shortening Market Report Overview

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The global vietnam margarine and shortening market size was USD 383.55 million in 2021 and the market is expected to reach USD 638.89 million in 2031, exhibiting a CAGR of 5.21% during the forecast period.

The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Every one of these fat differs significantly depending on the type of fat it contains, and each has a specific function in traditional recipes. The type of fat source you utilize affects the texture, taste, color of the product. Cakes produced with butter taste richer, well, buttery, but they may turn out to be a little less tender. Cakes produced with margarine seem to be thicker and lighter in color. Cookies produced with margarine are sticky but miss the same taste punch as those cooked with butter, which are more burnt in color and crunchier around the edges. Piecrusts produced without butter instead of shortening are flavorless but unrivaled in terms of fork-tenderness.

COVID-19 Impact: Interruption in Supply Chains to Deplete Market Growth

The COVID-19 pandemic's emergence in 2020 has slowed the growth of the global vietnam margarine and shortening market. Retail stores, malls, groceries, and other distribution channels were ordered to shut down as a result of the rigorous lockdown that is being enacted by governments around the world. But amid the shutdowns, a number of businesses have turned to e-commerce platforms to increase revenue and increase sales. The recent rise in offline marketing is the result of a number of countries' government lockout limitations being gradually lifted.

Latest Trends

"Bakery Industry to Intensify Market Magnification"

Because of the crucial role that vietnam margarine and shortening fats play in baking, the bakery industry continues to be a leader in the applications of these substances. Shortenings are increasingly being used more frequently for frosting applications because of their ability to incorporate large numbers of bubbles, which results in a finished product with a light, fragile structure. In terms of volume, the use of margarine and shortening in cookies and cakes is only second to that of sugar. Cake shortening contains emulsifiers in order to maintain the hygroscopic nature of cakes.

Vietnam Margarine & Shortening Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into hard margarine, soft margarine, liquid margarine, powder margarine

Hard margarine is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into instant noodles, confectionery, bakery, others

Instant noodles are the leading part of the application segment

Driving Factors

"Processed Food Industry to Boost Market Share"

The growing processed food industry is what is driving the need for vietnam shortening and margarine. Noodles and pasta are examples of processed food products that are consumed as staple meals around the world. The preparation time is rather short for many other processed foods such as dried noodles, pasta, and dry ready meals. Due to their multiple functional advantages, such as increased flexibility, a high boiling point, and a long shelf life, shortening fats are widely utilized in bread goods. Thus, the global vietnam margarine and shortening market share will elevate during the forecast period.

"Functional Meals to Expand Market Forwarding "

Both the fundamental nutritional composition of the food and the different health advantages that functional meals or beverages containing functional nutrients complement are used to increase demand. Fatty acids, prebiotics, vitamins, minerals, amino acids, and protein are among these nutrients. The importance of functional items has expanded in recent years as consumer health has become a more well-known industry. Because product innovation and research initiatives are becoming more prevalent, consumers are preferring functional meals and beverages. Customers' shift from bakeries and desserts to functional meals and beverages has had an impact on the demand for and consumption of vietnam margarine and shortening goods in recent years. As a result, the vietnam margarine and shortening market growth is expanding.

Restraining Factors

"Harmful Saturated Fats to Deplete Market Advancement "

The reality that most of shortening in the marketplace are composed mostly of harmful saturated fats and, in certain circumstances, also include significant amounts of trans fats, is widely known and acknowledged. The obesity problems and other lifestyle pandemics for harmful fats, in addition to the quick development of alternatives such dietary fibers with partial replacement efficiency, are two major obstacles to the global vietnam margarine and shortening market growth.

Vietnam Margarine & Shortening Market Regional Insights

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"Expanding Bakery Sector to Foster Market Growth in Asia Pacific "

Asia Pacific is a significant region for vietnam margarine and shortening market due to its expanding bakery sector. Customers are demonstrating a greater predisposition for "healthy indulgence," especially when it pertains to recently prepared products like loaves, pastries, pies, and rolls. Private label and independent bakers still dominate the market. In these developed nations, there are still many small and personal label bakers in operation, which leads to a fragmented baking industry. This presents a substantial opportunity for producers of shortening fats, provided that consumer demand for certified organic, clean-label, and exceptionally convenient goods is suitably addressed. Reduced trans fatty acids should be added to shortenings by their manufacturers.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Cai Lan Oils&Fats Industries (Vietnam)
• Tan Binh Vegetable Oil (Vietnam)
• Tuong An Vegetable Oil (Vietnam)
• Golden Hope Nha Be (Vietnam)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.