Global Shortenings Market - 2022-2029

Global Shortenings Market - 2022-2029

Market Overview

The global shortenings market is valued at USD XX million in 2021 and is forecasted to reach USD XX million by 2029, growing at a CAGR of XX% during the forecast period (2022-2029).

A shortening is a solid fat at room temperature and can be used to give dishes like pastry a crumbly and crisp feel. Butter, margarine, vegetable oils, and lard are examples of fats used as shorteners. The need for edible fats and oils has expanded in tandem with the ever-growing food goods industry. Vegetable oils such as soybean, cottonseed, and refined palm oil are utilized to make the most common shorteners. These oils are produced solid at room temperature using the hydrogenation process. One of the key drivers for the shortenings market is the rising consumption of bakery confectionery items. However, increased awareness of the dangers of excessive fat consumption has slowed total market growth.

Market Dynamics:

The market for shortening is being driven by the growing processed food industry

The rising processed food industry drives the market for shortening fats. Pasta and noodles, for example, are used as a staple cuisine in several countries. The demand for easy food products has grown due to hectic lifestyles and the need for leisure. Dried ready meals, dried noodles and spaghetti, and various other processed foods take less time to prepare. Furthermore, shortening fats are often employed in bread products due to various functional advantages, including increased elasticity, higher smoke points, and longer shelf life. Bakeries prefer fat shortenings in most of their goods, not only because of their functional benefits but also because they are processed far less than other options. Fats and oils are important ingredients in the food industry because they deliver a variety of nutrients to the body, including omega-3 and omega-6 fatty acids. Furthermore, fats and oils are necessary to absorb vitamins like vitamin A, vitamin D, vitamin K, and vitamin E. Oils and fats are utilized in baked goods to prevent gluten from forming, resulting in a crumbly texture. Because fats and oils break down gluten into shorter strands, the term shorteners was coined.

Market Segmentation:

Vegetable shortening is the fastest growing segment during forecast period

Vegetable shortening is a hydrogenated solidified fat made from soybean oil, palm oil, and cottonseed oil; it has the same white color as lard also adds the same flaky texture to baked foods. Vegetable shortening lasts longer with a better shelf life than lard. Hydrogenated solidified oil is a perfect substitute for lard because it is less expensive to create and does not involve slaughtering animals or using animal fat as a by-product. It also does not require refrigeration like animal-based shortening. As a lard alternative, vegetarians will prefer vegetable shortening. Veganism and plant-based diets have become popular dietary trends that have made their way into day-to-day reading diets.

Based on the application, the bakery segment held the highest market revenue share of XX% in 2021. The bakery sector has grown globally as consumers' lifestyles and eating habits have changed across all geographies. Almost all bakery products require the use of fats and oils. Shortenings have a tenderizing impact on the completed product and are frequently used to help with dough handling. They often contribute a flavor of their own and tend to round off short notes in some spice flavors, in addition to changing the mouthfeel or texture. Lard, cow fats and hydrogenated vegetable oils are popular fats found in baked items.

Geographical Penetration:

North America is expected to dominate the global shortenings market

Because of the well-established bakery industries in both regions, North America retains most of the market, followed by Europe. Consumers are increasingly gravitating toward healthy eating, particularly when it comes to freshly baked goods like bread, cake, pies, and other baked goods. Because of the considerable consumption of confectionery items in the region compared to other regions, Asia-Pacific accounts for a significant part of the shortenings market. With the region's developing confectionery industry, the market for shortenings in South America is expected to accelerate over the forecast period. The Middle East and Africa market is predicted to have the smallest share in the global shortenings industry.

Competitive Landscape:

In the worldwide shortenings market, the firms are likely to develop their business by diversifying their product portfolio. The firms are expected to formulate specific tactics to acquire a competitive advantage in the worldwide shortening fat market during the forecast period. Bunge North America, Inc., Yildiz Holding (Eksper Food), Namchow Chemical Industrial Co., Ltd., FUJI OIL CO., LTD., and Cargill are the leading global competitors in the fat shortening market. Cargill”s All-purpose shortenings are designed primarily for cookies. These shortenings are also suitable for various other bakery and snack applications. Cargill focused on improving bakery shortening performance and boosting bakery and snack sales with plant proteins at the International Baking Industry Exposition, Sept. 7-11 in Las Vegas.

COVID-19 Impact:

Negative impact on the global shortenings market

Due to the COVID-19 pandemic, there has been an increase in healthful edible oils and nutritional items to help the immune system. Furthermore, lockdowns enforced by governments in many countries and the temporary shutdown of major industrial units harmed the manufacture and distribution of these products; nevertheless, the market is projected to revive in the following years. However, an increase in health issues such as heart disease and obesity due to excessive fat and oil consumption, the implementation of strict government food safety standards, and an increase in environmental concerns are impeding the growth of the shortening market.

Why Purchase the Report?

Understand the current market scenario and viability of global shortenings market over the forecast period

Visualize the composition of the shortenings in terms of type, source, application and region to identify major players, growth potential, and market strategies

Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period

Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market

What we offer?

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study

Excel data sheet with valuable data points of the global shortenings market– Regional and Country level segmentation

Product mapping in excel for the key products of all major market players

Market Share Analysis covering business revenues ($) and revenue share (%) of key market players

The global shortenings market report would provide an access to approximately 60 market data tables, 56 figures and 180 pages

Target Audience:

Food & Beverages Manufacturers

Bakery & Confectionary Manufacturers

Industry Investors

Education & Research Institutes

Research Professional