Global Shortenings Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Shortenings Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global shortenings market report has been segmented on the basis of and region.
Global Shortenings Market: Overview
Shortenings are the type of fats that are solid at the room temperature and used to give foods a crusty, crumbly, and flaky texture. Shortening made from partial or full vegetable source, including oil extracted from pal and soybean or cottonseed and are majorly used in bakery & confectionery and snacks & savory products. Shortening contains unsaturated fats, saturated fats, and trans-fat and it is high in calories.
Global Shortenings Market: Dynamics
Growing processed food industry is expected to drives the market for shortenings. Affordability, easy availability, convenience, and health benefits are contributing to growth of the bakery food market and target market subsequently. In addition, increasing demand for bakery & confectionery items due to its functional benefits including improving elasticity and higher shelf life, is estimated to create favorable environment for growth of target market. Whereas, alternatives such as butter and strict government rules and regulations on usage of unsaturated fatty acids in food items, may hamper growth of the target market. In 2015, FDA ruled that unsaturated fatty acids intake is not safe food additive, owing to health problems/risk associated with consumption.
Recent trend observed in the target market is food processing industry is focusing on trans-fat reduction and providing better texture to the products. Low-trans-fat property in the shortening fat is one of the key factors driving demand for the target product. In addition, extreme consumption of high calorie shortening leads to health related problems and cardiovascular diseases, so individuals are shifting their preferences to consume low calorie items.
Global Shortenings Market: Segment Analysis
Among the Ingredient type segments, the oil segment is expected to hold significant share in the global target market.
Among the source segments, the vegetable segment is estimated to dominate the market over the forecast period.
Among the form segments, the solid segment is estimated to be the largest revenue contributing segment in the global market.
Among the application segments, the bakery & confectionery segment dominates the target market.
Among the distribution channel, the indirect segment is expected to hold major share in terms of revenue in the target market.
Global Shortenings Market: Region Analysis
The market in Asia Pacific is expected to hold major market share in the global market and is expected to maintain its dominance over the forecast period. Easy availability of palm oil and increasing demand for baked products such as biscuits, pastries, cakes, and bread are some of the major factors expected to drive the shortenings market in countries in the region.
According to study conducted by Ministry of Agriculture in Indonesia and Indonesia Palm Oil Producers Association (Gapki), total production of palm oil in Indonesia was 32 Mn tons in 2016, out of which, 27 Mn tons of palm oil was exported in the same year.
Global Shortenings Market Segmentation:
Segmentation by Ingredient:
Segmentation by Source:
- Plant Based
- Animal Based
Segmentation by Form:
Segmentation by Application:
- Bakery & Confectionery
- Snacks & Savory
- Dairy Products
Segmentation by Distribution Channel:
- Store-based Channel
- Convenience Store
- Traditional Store
- Online Retailers
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Natu’oil Services Inc.
- Western Pacific Oils Inc.
- Agarwal Industries Pvt. Ltd.
- AAK Kamani Pvt Ltd.
- Roberts Manufacturing Co. Limited
- Cargill Inc.
- Stratas Foods
- Carotino SDN BHD, PT. ICC Indonesia
- THE J.M. Smucker Company
- Bunge North America, Inc.
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