The margarine and shortening market is primarily driven by their wide array of health benefits over butter. Margarine and shortening are considered healthier alternatives to butter as they contain no cholesterol and saturated fat content is lower compared to butter. They are frequently used for producing bakery products such as pastries, cakes and cookies etc.
Key Takeaways
Key players operating in the margarine and shortening are Emoha Elder Care, AntaraSeniorCare, Nisarg Care, Tata Trust, Ashiana Housing Ltd., Heritage Eldercare Services Pvt. Ltd., ASLI (Association of Senior Living India), Nema Care, Age Ventures India, Piramal Swasthya, Jeevan Suraksha, and Kriti Elder Care. These players are focusing on new product launches, expansions and mergers & acquisitions to strengthen their market presence.
The key opportunities in the margarine and shortening market include growing demand from bakery and confectionery industry and expansion in distribution channels including supermarkets and hypermarkets. The major players are targeting emerging markets in Asia Pacific and Middle East & Africa for global expansion owing to rising disposable income and growing health awareness.
Market drivers and restrain
The primary driver for Margarine And Shortening Market Demand is increasing consumer preference for healthier food products with lower saturated fat and cholesterol content. The favorable nutritional profile of margarine and shortening makes them suitable for various cooking applications. Furthermore, shifting dietary patterns and large scale product promotions campaigns by leading brands are fueling the market growth.
However, availability of various healthy substitutes such as olive oil, canola oil etc. is the major challenge for the margarine and shortening market. Stringent food regulations regarding labeling and ingredients percentage is another key factor negatively impacting the market. Manufacturers have to comply with various international quality certifications and standards which increases the production cost.
Segment Analysis
The margarine and shortening market is dominated by the grocery store sub-segment, which accounts for over half of the total market share. This is because margarine and shortening are commonly used in bakeries and for home cooking purposes, where grocery stores are the main point of purchase for these household products. Grocery stores allow for bulk purchases of margarine and shortening at cheaper prices compared to convenience stores or specialty food shops. Additionally, grocery stores stock a wide variety of brands and types of margarine and shortening products to appeal to different customer preferences.
Global Analysis
The Asia Pacific region dominates the global margarine and shortening market and is expected to maintain this position throughout the forecast period. This is due to factors such as rising spending power, westernization of diets, and growth of the food service industry in developing countries of Asia Pacific. Within the region, China holds the largest market share currently due to its huge population and rapid urbanization. Meanwhile, countries like India and Indonesia are projected to witness the highest growth during the forecast period driven by growing middle-class populations and increasing consumption of bakery and convenience food products in these markets. Europe follows Asia Pacific in terms of market share and is an established as well as matured market for margarine and shortening.
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