Shortenings Market to Grow with a CAGR of 4.27% Globally through 2029
Global
Shortenings Market is driven by the increasing demand for convenience foods,
evolving bakery trends, health considerations, and continuous technological
advancements in production processes.
According
to TechSci Research report, “Shortenings Market - Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2029”, the global
shortenings market stood at USD 4.70 billion in 2023 and is anticipated to grow
with a CAGR 4.27% in the forecast period, 2025-2029. The Global Shortenings
Market is a dynamic sector influenced by diverse factors. The rising demand for
convenience foods and evolving bakery preferences propel market growth, while
health-conscious consumerism drives the demand for cleaner formulations and
alternative fats. Continuous technological advancements in production processes
enhance efficiency and quality. Challenges include health concerns leading to
regulatory pressures and competition necessitating product differentiation.
Sustainability and ethical sourcing also emerge as significant considerations.
As the market adapts to these trends and challenges, it remains a vital
component of the food industry, catering to changing consumer lifestyles,
preferences, and a demand for innovative, high-quality food products.
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One of the key
drivers propelling the Global Shortenings Market is the evolving landscape of
the bakery and confectionery industry. As consumer tastes become more diverse
and discerning, bakeries are under increasing pressure to produce a wide array
of appealing and high-quality products. Shortenings, with their ability to
impart desirable qualities such as flakiness and tenderness to dough and
pastries, have become a cornerstone in the creation of bakery delights. From
flaky croissants to moist cakes, shortenings contribute significantly to
achieving the desired texture and mouthfeel in baked goods, driving the demand
for these fats on a global scale.
Health-conscious
consumerism represents another influential driver in the Global Shortenings
Market. The shift towards healthier dietary choices has prompted a reevaluation
of traditional formulations, particularly those containing trans fats found in
hydrogenated shortenings. Consumers are increasingly seeking alternatives,
leading to a growing demand for non-hydrogenated shortenings, plant-based fats,
and formulations with reduced saturated fats. Manufacturers are responding by
innovating and introducing products that cater to this health-conscious
consumer segment, emphasizing cleaner labels and natural ingredients. This
trend not only addresses health concerns but also reflects the industry's
commitment to meeting evolving consumer expectations and regulatory standards.
Technological
advancements in production processes emerge as a critical driver, enhancing the
efficiency, quality, and versatility of shortenings. From improved
emulsification techniques to interesterification processes, manufacturers are
adopting innovative methods to create shortenings with specific
functionalities. Enzyme-modified shortenings and advancements in packaging
technologies further contribute to the stability and shelf life of these fats.
The continuous evolution of production technologies not only benefits
manufacturers by optimizing processes but also provides opportunities for
innovation and differentiation in the highly competitive Shortenings Market.
However, amidst
the growth and opportunities, the Global Shortenings Market faces significant
challenges. Health concerns associated with certain types of fats have led to
regulatory pressures, prompting restrictions on the use of trans fats in food
products. This challenge has necessitated the reformulation of shortenings and
the exploration of alternative ingredients to meet health and regulatory
standards. Clean label and natural ingredient trends pose another hurdle,
requiring manufacturers to navigate the delicate balance between achieving
desirable product performance and meeting consumer preferences for transparency
and simplicity in ingredient lists.
Rising raw
material costs and supply chain disruptions present additional challenges for
the Shortenings Market. Fluctuations in commodity prices, particularly for key
ingredients like palm oil and soybean oil, can impact production costs and
overall market stability. Dependence on specific regions for raw material
supply exposes the industry to potential disruptions caused by geopolitical
factors or unforeseen events, emphasizing the need for robust supply chain
management strategies.
The global shortenings
market is segmented into source, key ingredient, application, variant, regional
distribution, and company.
Based on variant,
the market is segmented into liquid shortening, solid shortening, all-purpose
shortening, cake/icing shortening, and others.
All-purpose
shortening is witnessing significant growth in the Global Shortenings Market
due to its versatile applications in both baking and cooking. Recognized for
its adaptability, this type of shortening caters to diverse culinary needs,
from pie crusts to frying. Its popularity stems from its ability to enhance
texture and flavor across a broad spectrum of products. As consumer preferences
increasingly lean towards convenient and multi-functional ingredients,
all-purpose shortening emerges as a favored choice, contributing to its
expanding presence in the global market.
Major companies
operating in global shortenings market are:
- Cargill Incorporated
- Conagra Brands Inc.
- Bunge Global SA
- Wilmar
International Limited
- The Archer Daniels
Midland Company
- International
Foodstuff Company Holdings Limited
- Ventura Foods
LLC
- AAK AB
- Manildra Group
- Associated
British Foods PLC
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“The
Global Shortenings Market is thriving amidst changing consumer preferences and
industry dynamics. Fueled by the demand for convenient foods and advancements
in bakery technologies, shortenings play a pivotal role in enhancing texture
and taste across various products. Health-conscious trends drive a shift
towards non-hydrogenated and plant-based formulations. Concurrently,
technological innovations optimize production processes, ensuring efficiency
and quality. However, challenges arise from health concerns, clean label
expectations, and supply chain disruptions. Amidst these dynamics, all-purpose
shortening emerges as a versatile solution, reflecting the market's
adaptability and growth in response to evolving consumer demands and culinary
trends.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based
management consulting firm.
Shortenings Market –
Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By
Source (Vegetable Shortenings, Animal Shortenings), By Key Ingredient (Oil,
Lard, Tallow, Butter, Others), By Application (Bakery Products, Confectionery
Products, Snacks & Savory Products, Others), By Variant (Liquid Shortening,
Solid Shortening, All-Purpose Shortening, Cake/Icing Shortening, Others), By
Region, By Competition, 2019-2029”, has evaluated the future growth potential
of global shortenings market and provides statistics & information on
market size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the global shortenings
market.
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