Shortenings Market Size, Growth, Trends, Report and Forecast 2027
Global Shortenings Market is projected to propel at a rapid pace and witness a formidable CAGR during the forecast period 2023-2027. The market growth can be accredited to the increasing demand for process food products, flourishing food business and rising consumption of western cuisines. Shortening refers to a fat, solid at room temperature which is used to provide food a fresh and brittle texture. It primarily includes butter, soyabean, vegetable oil, margarine, and fat. It is usually made from vegetable oil, refined palm oil, or cotton seed. The global market has registers rapid adoption of shortening fats in a wide range of baked commodities such as cakes, pastries, and cookies, as they provide softness, texture, structural integrity and longer shelf life to the food product. Apart from this the expanding HORECA sector and the introduction of quick serving restaurants are acting as other major growth inducing factor for the market. The rapid expansion of such sectors is rapidly increasing the demand for shortenings as they are the primary base for almost every dish. Factors such as inflating disposable income of the consumers, accelerating demand for ready to eat or ready to cook food and proliferation of online food retail stores are anticipated to propel the global shortenings market in the coming years.
The global shortenings market is segmented on the basis of source, key ingredient, variant, application, competitive landscape, and regional distribution. Based on the source the market is divided between vegetable shortenings and animal shortenings. Among these, the vegetable segment is anticipated to hold a prominent market share in the coming years due to the growing awareness for fortified, healthy, non-hydrogenated trans-free vegetable shortenings. By key ingredient type the market is bifurcated into oil, lard, tallow, butter and others. Based on the variant the market is fragmented into liquid shortening, solid shortening, all-purpose shortening, cake/icing shortening and others. By application the market is segmented into bakery products, confectionery products, snacks & savory products and others.
Some of the leading players in the Global Shortenings Market are Cargill, Conagra Brands, Bunge Limited, Wilmar International Limited, Archer Daniels Midland Company, International Foodstuff Company Holdings Limited, Ventura Foods LLC, AAK AB, Associated British Foods PLC etc.
Report Scope:
In this report, Global Shortenings Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Shortenings Market, By Source:
- Vegetable Shortenings
- Animal Shortenings
- Shortenings Market, By Key Ingredients:
- Oil
- Lard
- Tallow
- Butter
- Others
- Shortenings Market, By Variant:
- Liquid Shortening
- Solid Shortening
- All-Purpose Shortening
- Cake/Icing Shortening
- Others
- Shortenings Market, By Application:
- Bakery Products
- Confectionery Products
- Snacks & Savory Products
- Others
- Shortenings Market, By Region:
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Shortenings Market.
Available Customizations:
With the given market data, TechSci Research offers customizations according the company’s specific needs. The following customization options are available for the report:
Company Information:
- Detailed analysis and profiling of additional market players (up to five).
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