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 : May, 2021 | Food and Beverages

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

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?