Shortening Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028
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:
Some of the most prominent competitors operating in the competitive landscape of global shortening market include –
New regional players are expected to emerge in the global shortening market in the years to follow.
Global Shortening Market: Growth Drivers
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.
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
On the basis of source
On the basis of application
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
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:
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.
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