Palm stearin has uses in the personal care and cosmetics industries in addition to the food business. Due to its expanding uses in the food industry, the Global Palm Stearin Market is anticipated to experience significant expansion in the near future. The solid fraction of the palm oil known as palm stearin is produced by processing the palm oil at a regulated temperature using the partial crystallisation method. In the food sector, palm stearin is used in the manufacture of margarine shortening and bread fats like Vanaspati.
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Market trends and drivers for palm stearin:
Global demand for palm stearin is anticipated to rise as a result of growing demand for packaged food products. Convenience food items are in higher demand as a result of changing consumer lifestyles.
There are many ways to prepare meals for the world’s health-conscious customers using palm oil and its components. The global palm stearin market is anticipated to grow at a faster rate than average over the forecasted period due to rising demand for fats and oils across a variety of industrial sectors.
Furthermore, rising chocolate consumption across the globe has contributed to the market growth of palm stearin. Palm and palm kernel-based specialty fats are widely used in the confectionery industry because of excellent gloss retention and flavor release, these factors are responsible for boosting the growth of the global palm stearin market.
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Global Palm Stearin Market: Market Segmentation
On the basis of product type
- Soft Stearin
- Hard Stearin
On the basis of application
Food & Beverage
Bakery & Confectionery
Salad & dressings
Cosmetics & Personal Care
Energy & Biomass
Palm Stearin Market Regional Outlook:
Palm oil is one of the highly produced vegetable oil worldwide with its production concentrated across Asia pacific. The major palm oil-producing countries include Indonesia, Malaysia, Thailand, and others. Other prominent producers of palm oil are Colombia, Nigeria, Papua New Guinea, and others.
The European market is projected to hold significant market share in the palm stearin market over the forecasted period. India, European Union, and China are the largest consumers of palm oil across the globe. It is estimated that these three countries consume nearly 50% of the world’s export of palm oil.
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Key Opportunities in Global Palm Stearin Market
- The palm stearin has various applications in the food industry and cosmetics and personal care industry. Soft palm stearin is a semisolid version of palm stearin while the hard stearin is a solid fraction of palm stearin.
- Soft palm stearin is used as a versatile natural ingredient in the manufacturing of tub margarine and cocoa butter equivalent (CBE) manufacturing.
- The palm stearin also has the various applications in the bakery and confectionery products such as it is used as filling and coating fat. Palm stearin also finds its applications as alternative fuel oil (biodiesel), in soaps, lubricants, surfactants, advanced detergents, paints dyes, insecticides and others. These increasing applications of palm stearin are creating lucrative opportunities for the new and existing market players in the global palm stearin market.
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