Shortening Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Shortening Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : August, 2020 | Food and Beverages | PPT format

Report Digest

Global Shortening Market: Overview

The global market for shortening is anticipated to gather momentum during the forecast period, 2018-2028. Reason for such rising prominence of the global shortening market is its wide range of applications in the food sector. Due to the countless health benefits offered by shortening it is more used by the food and bakery industry now and thus the market gained traction.

Shortening is a fat that is made from animal fat and vegetable oil. It is used for both cooking and baking purposes. Shortening, basically, refers to any fat that remains solid at room temperature. Shortening is made from partial or full vegetable source, comprising oil derived from pal and soybean. Consumers increasingly prefer shortening from vegetable source to animal source.

The global market for shortening has been segmented on the basis of the following parameters: source, type, application, and region.  Lard, hydrogenated oils, and even butter can be utilized as shortening. Shortening usually refers to hydrogenated oils that was used widely in the early 20th century.

Global Shortening Market: Notable Developments

The competitive market dynamics of the global shortening market have become better in recent times. Some of the notable developments relating to the competitive landscape of global shortening market are:

  • Earlier this year, US-based Archer Daniels Midland Company announced that it had successfully completed its acquisition of Neovia. Based out of France, Neovia is a leadi9ng animal feed producer. The acquisition thus created a global market leader in value-added solutions and products for both production and companion animals. The acquisition of Neovia represents a major milestone  and a move in the execution of Archer Daniels Midland Company’s strategic plan to become a global leader in nutrition.

Some of the most prominent competitors operating in the competitive landscape of global shortening market include –

  • Archer Daniels Midland Company
  • The J.M. Smucker Company
  • OJSC Nizhny Novgorod Fats & Oils Group
  • Cargill, Inc.
  • Associated British Foods plc ,
  • Wilmar International Ltd.

New regional players are expected to emerge in the global shortening market in the years to follow.

Global Shortening Market: Growth Drivers

  • Growing Health Awareness Shoots up Demand for Vegetable Sourced Shortening

The vegetable sourced shortening is likely to lead the market during the forecast period due to increased consciousness about health products. Escalated demands for trans-fat-free vegetable shortening amongst consumers are further expected to fuel the market. Vegetable shortenings are sourced from various plant sources, such as groundnut, soybean, coconut, palm, sunflower, and others.

  • Changing Preferences of the Masses

Over the forecast period of 2018-2028, global shortening market is estimated to be fuelled by its increased application in the bakery products segment. Shortenings will be used widely in the bakery segment for desired freshness, texture, and volume.

Global Shortening Market: Regional Outlook

On the basis of geography, the global Shortening market has been segmented into North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe. Regionally, Asia-Pacific is forecasted to be the fastest growing region in the global shortening market.

The reason for such dominance is the increasing production and consumption of flour products in developing countries, such as India and China. Improvements in the purchasing power of consumers in the region coupled with change in eating habit of consumers have led to increased consumption of bakery and confectionery products.  Such change is expected to propel the growth of global shortening market during forecast period.

North American shortening market is expected to expand at a fast rate between 2018 to 2028 in global owing to the augmented consumption of convenience food in the region.

The global shortening market is segmented as:

On the basis of type

  • All Purpose Shortening
  • Emulsified Shortening
  • High Stability Shortening

On the basis of source

  • Animal
  • Vegetable

On the basis of application

  • Baking
  • Frying
  • Confectionery and Pastry
  • Other

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.