NEW
YORK, July 17, 2024 /PRNewswire/ -- The
global shortening market size is estimated to grow by
USD 1.24 billion from 2023-2027,
according to Technavio. The market is estimated to grow at a CAGR
of 4.93% during the forecast period. High consumption of bakery
products is driving market growth, with a trend
towards plant-based and vegan shortenings.
However, health issues associated with shortening poses a
challenge. Key market players include AAK AB, Archer Daniels
Midland Co., B and G Foods Inc., Bunge Ltd., Cargill Inc., CAROTINO
SDN BHD, Fuji Oil Co. Ltd., Gujarat Ambuja Exports Ltd., IFFCO
Group, Manildra Flour Mills Pty. Ltd., Olivia Impex Pvt. Ltd.,
Palsgaard AS, Premium Oils and Fats Sdn Bhd, Riken Vitamin Co.
Ltd., S.S.D. Oil Mills Co. Ltd., Stratas Foods, Vantage Specialty
Chemicals, Ventura Foods LLC, Wilmar International Ltd., and
Associated British Foods Plc.
![Technavio has announced its latest market research report titled Global Shortening Market 2023-2027 Technavio has announced its latest market research report titled Global Shortening Market 2023-2027](https://mma.prnewswire.com/media/2462272/Global_Shortening_Market_2023_2027.jpg)
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Shortening Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2022
|
Historic
period
|
2017 - 2021
|
Forecast
period
|
2023-2027
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
4.93%
|
Market growth
2023-2027
|
USD 1249.49
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
4.53
|
Regional
analysis
|
Europe, North America,
APAC, South America, and Middle East and Africa
|
Performing market
contribution
|
Europe at
36%
|
Key
countries
|
US, China, France,
Germany, and UK
|
Key companies
profiled
|
AAK AB, Archer Daniels
Midland Co., B and G Foods Inc., Bunge Ltd., Cargill Inc., CAROTINO
SDN BHD, Fuji Oil Co. Ltd., Gujarat Ambuja Exports Ltd., IFFCO
Group, Manildra Flour Mills Pty. Ltd., Olivia Impex Pvt. Ltd.,
Palsgaard AS, Premium Oils and Fats Sdn Bhd, Riken Vitamin Co.
Ltd., S.S.D. Oil Mills Co. Ltd., Stratas Foods, Vantage Specialty
Chemicals, Ventura Foods LLC, Wilmar International Ltd., and
Associated British Foods Plc
|
Market Driver
The plant-based and vegan shortening market is experiencing
significant growth due to the increasing preference for plant-based
diets and the demand for vegan products. These shortenings are
derived from vegetable oils or other plant-based sources like
coconut, excluding animal-derived ingredients such as margarine.
Manufacturers are responding to this expanding consumer base by
introducing plant-based and vegan alternatives. Consumers are
becoming more health-conscious and seek healthier options, which
plant-based shortenings provide with lower saturated fat and zero
cholesterol compared to traditional animal-based shortenings. This
healthier profile is appealing to individuals looking for
alternatives that align with their well-being. The growing
popularity of plant-based products is expected to positively impact
the expansion of the global shortening market during the forecast
period.
The shortening market is currently experiencing significant
growth due to increasing trends in health concerns, obesity, and
lifestyle epidemics. Consumers are seeking healthier alternatives,
leading to the development of improvised formulations with dietary
fibers and fortified shortenings. Premiumization and organic,
clean-label options are also on the rise. Raw materials, such as
vegetable oils and emulsifiers, are essential for economical
production. End-use sectors, including rolls, breads, hard baked
goods, cakes, and foodservice sectors, are major markets. Processed
shortenings offer plasticity and consistency for various
applications, from deep-frying to creaming and baking. Bakery
products, like cookies, pies, and pastries, are popular
applications. Shortenings' hygroscopic nature and ability to create
fine, delicate structures make them indispensable. The market is
fragmented, with independent bakers and private label bakers
competing alongside established brands. Future development includes
essential oils, micronutrients, and fortified shortenings for
healthy indulgence. The growth trajectory is promising, with
potential applications in the foodservice sector and deep-frying
applications. Temperature considerations, such as room temperatures
and refrigeration, are crucial factors in production and
storage.
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Market Challenges
- Consumers' increasing health consciousness has led to decreased
demand for shortening due to its high trans fat and saturated
fat content. Negative impacts on cardiovascular health have raised
concerns, causing consumers to seek healthier alternatives like
vegetable oils and plant-based fats. Dietary trends, such as
low-fat or fat-free diets, have also influenced this shift. This
may negatively affect the growth of the global shortening market
during the forecast period.
- In the food industry, shortening faces challenges in various
sectors. Shelf-life is a major concern due to the presence
of trans-fats and hydrogenated oils. Functional meals and
nutrients like amino acids, vitamins, minerals, protein, and fatty
acids require functional shortenings for optimal performance. Amino
acids and vitamins are sensitive to heat and oxidation, affecting
consumer health. Functional products in bakeries and confectionery
face hurdles due to the use of hydrogenated oils and trans-fatty
acids, linked to cardiovascular diseases. Retail stores and
e-commerce platforms face challenges in sourcing high-quality
shortenings with long shelf-life. Indirect stores and convenience
stores require shortenings with good heat transfer and air
incorporation for optimal performance. Profitability estimations in
the bakery, confectionery, and snacks & savory sectors require
benchmarking against competitors using vegetable fats and
hydrogenation techniques. The lubricating effect, sensory
properties, texture, mouth-feel, and structural integrity of
shortenings are crucial for consumer acceptance. Vegetables, malls,
and lockdowns impact the availability and cost of raw materials for
shortening production. Shortenings must meet consumer health
concerns while maintaining the desired functional properties for
various baked commodities and formulations.
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Segment Overview
This shortening market report extensively covers market
segmentation by
- Source
- 1.1 Vegetables
- 1.2 Animal
- Channel
- 2.1 Indirect channel
- 2.2 Direct channel
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Vegetables- The vegetable segment held a significant
share in the global shortening market in 2022. With growing health
concerns regarding saturated fats and trans fats, vegetable-based
shortening, derived from oils like soybean, sunflower, or canola,
has gained popularity. This alternative is generally lower in
saturated fats and free of trans fats. The rise of plant-based
diets and veganism has fueled demand for vegetable-based
alternatives in various food products. These options align with
dietary choices and cater to individuals avoiding animal products.
The clean label movement favors natural, minimally processed
ingredients. Vegetable-based shortening fits this trend as it
undergoes minimal processing and lacks artificial additives or
preservatives. It is also suitable for individuals with dietary
restrictions or allergies, particularly those avoiding dairy or
lactose. Additionally, vegetable shortening is perceived as a more
sustainable choice compared to animal-based fats, contributing to
the market's growth during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2023-2027) and historic data
(2017-2021) - Download a Sample Report
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Research Analysis
Shortening is a type of edible fat used in baking and cooking to
improve the texture, shelf life, and appearance of various food
products. It is typically made from vegetable oils, such as soybean
or cottonseed, hydrogenated to increase their saturated fat
content. At room temperature, shortening maintains its solid state,
making it ideal for use in pastries, cakes, and pies. In the
confectionery sector, shortening is crucial for creating structural
integrity and air incorporation in products like marzipan and
fondant. In the bakery sector, it enhances the texture of bread and
rolls. In the snacks & savory sector, it is used in frying and
coating snacks. However, the use of shortening has raised health
concerns due to its high saturated and trans-fat content.
Trans-fats have been linked to cardiovascular diseases, obesity,
and lifestyle epidemics. Heat transfer and shelf life are other
important factors considered when choosing shortening for
commercial applications in malls and foodservice industries.
Market Research Overview
Shortening is a type of edible fat used in baking and cooking to
improve the texture, elasticity, and shelf life of various food
products. It is typically made from vegetable oils, such as soybean
or cottonseed, that undergo hydrogenation to increase their
saturated fat content and improve their solidity at room
temperature. Shortening is widely used in the production of
pastries, cakes, bread products, and other baked commodities, as
well as in the manufacture of dry-ready meals, dried noodles, and
snacks. The shortening market has seen significant growth in recent
years due to the increasing demand for convenience foods and the
need for economical production in various end-use sectors. The
market is segmented into the bakery sector, confectionery sector,
and snacks & savory sector, among others. The key factors
driving the growth of the shortening market include the need for
improved texture, mouth-feel, and structural integrity in baked
goods, as well as the demand for functional meals and functional
nutrients, such as amino acids, vitamins, minerals, protein, and
fatty acids. However, health concerns, such as the negative health
effects of trans-fats and saturated fats, have led to increased
scrutiny of the shortening industry. As a result, there is a
growing trend towards the development of improvised formulations,
such as those made with prebiotics, vegetable fats, and other
healthy alternatives. The shortening market is expected to continue
its growth trajectory in the coming years, with profitability
estimated to reach new heights in various end-use sectors,
including rolls, breads, hard baked goods, cakes, and liquid
consistency applications in foodservice sectors. The market is also
expected to see significant growth in deep-frying applications and
in the production of functional shortenings for use in functional
meals and premium bakery products. Despite the challenges posed by
health concerns and the ongoing COVID-19 pandemic, which has led to
disruptions in the supply chain and increased competition from
indirect stores and e-commerce platforms, the shortening market is
expected to remain a key player in the global food industry.
Sources: 1. Grand View Research. Shortening Market Size, Share
& Trends Analysis Report By Type (Hydrogenated Vegetable Oils,
Non-hydrogenated Vegetable Oils), By Application (Bakery,
Confectionery, Snacks & Savory, Foodservice), By End Use
(Bakery Products, Confectionery Products, Snacks & Savory
Products, Functional Foods), By Region, And Segment Forecasts, 2021
- 2028. 2. Statista. Shortening Market Size Worldwide in 2021. 3.
Food Ingredients First. Shortening Market to Reach USD16.8 Billion by 2026. 4. IBISWorld. Shortening
Manufacturing in the United
States. 5. Food Business News. Shortening: A Fat Fact.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Source
-
- Channel
-
- Indirect Channel
- Direct Channel
- Geography
-
- Europe
- North America
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio