Shortenings market is flourishing on a lower CAGR of 4.0% through 2032, while it holds a revenue of USD 4.9 Bn in 2022 and is expected to cross USD 7.3 Bn by 2032.
Demand for shortenings rises with bakery products having traditionally been regarded as essential components of human nutrition. The market for confectionary and bakery items is growing in response to the growing need for convenience foods and consumer preferences for attractive, delicious, and tactile delicacies. The key factors impacting their survival in today’s market are their ease of access, low cost, and nutrition, pushing the demand for shortenings.
As a result, bakery items have become an indispensable part of many people’s lives. As a result, demand for baking ingredients like shortenings, which are used to create baked goods with a rich flavour and texture, has risen. This pushes the sales of shortenings in the global market.
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“One of the main factors driving the demand for shortenings is the rising demand for convenience foods. The consumption of bakery products has increased around the world as a result of hectic schedules and changing dietary habits. Furthermore, increased consumer nutritional awareness and the availability of organic components have aided market expansion.” said a lead analyst at FMI.
Global Shortenings Market: Dynamics
The shortening market is likely to be driven by the rising processed food industry. Affordability, ease of availability, convenience, and health advantages are all factors driving the bakery food sector and, as a result, the target market. This pushes the sales of shortenings in the global markets.
Furthermore, rising demand for bakery & confectionery items is expected to generate a favorable environment for the target market’s growth due to functional benefits such as improved elasticity and longer shelf life. Alternatives such as butter, as well as tight government restrictions and regulations on the use of unsaturated fatty acids in food, may stifle the target market’s expansion, expanding the shortening market size.
Shortenings market analysis explains that the food processing sector is focusing on reducing trans-fat and improving product texture, according to a recent trend identified in the target market. One of the primary aspects driving demand for the target product is the shortening fat’s low-trans-fat feature, creating more opportunities and increasing the sales of shortenings. Furthermore, demand for shortenings rises with excessive consumption of high-calorie foods that is linked to health problems such as cardiovascular disease, so people are altering their preferences to low-calorie foods.
Get Valuable Insights into Shortenings market
Future Market Insights, in its new offering, provides an unbiased analysis of the Shortenings market presenting historical demand data (2017-2021) and forecast statistics for the period from 2022-2032. The study divulges compelling insights on the Shortenings market based on nature (organic shortenings and conventional shortenings), by source (palm, soybeans, sunflower seed, maize, groundnut, coconut, and others (castor, linseed, etc)), by form (powder and block), by end-use (food and beverages, cosmetics and personal care, pharmaceutical, household/ retail, and others), by distribution channel (business to business and business to consumers), and across seven major regions.
Competitive Analysis
Some of the leading companies offering Shortenings are Cargill Incorporated, Mallet & Company, Inc., Lonza Group AG, Bunge Limited, Archer Daniels Midland Company, Palsgaard, RIKEN VITAMIN Co., Ltd., Natu’oil Services Inc., Western Pacific Oils Inc., Agarwal Industries Pvt. Ltd., AAK Kamani Pvt Ltd., Roberts Manufacturing Co. Limited, Stratas Foods, Carotino SDN BHD, PT. ICC Indonesia, THE J.M. Smucker Company, Edible Oils Ltd., and Others.
- Stratas foods has launched new type of shortenings and oils that enhances the baking applications, coming with packaging and bottle size for shelf and consumer applications, increasing the demand for shortenings.
- Bunge has introduced its new batch of shortenings including La Nuestra that can be used as multi-purpose shortening. It can be used in different types of traditional and industrial bakery, flourishing the sales of shortenings.
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Shortenings Market by Category –
By Nature:
- Organic
- Conventional
By Source:
- Palm Oil
- Soybeans Oil
- Sunflower Seed Oil
- Maize
- Groundnut Oil
- Coconut Oil
- Lard
- Butter
- Others (Castor Oil, Linseed Oil, etc
By Form:
- Powder
- Block
By End Use:
- HoReCa
- Bakery
- Confectionary
- Processed Food
- Household Retail
By Sales Channel:
- Business to Business
- Business to Consumers
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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