Shortenings Market Size, Share, Growth Report 2030

Global Shortenings Market: Overview

According to the report, the global demand for Shortenings market was valued at approximately USD 3.1 Billion in 2019 and is expected to generate revenue of around USD 4.5 Billion by end of 2026, growing at a CAGR of around 5.45 % between 2020 and 2026.

Shortenings can be considered an important ingredient of baking. Owing to this importance the shortenings market is flourishing in the global market due to the fact that the food and beverages industry is developing. The increasing popularity of baking products in the global market and the easy availability of the shortenings influence the growth of the market in the coming years.

Global Shortenings Market: Segmentation

The shortenings market is globally segmented into key ingredients, sources, variants, and applications. Based on the key ingredient, the global market is segregated into butter, lard, oil, tallow, and others. On the basis of source, the market is categorized into animal and vegetable. Depending on the variant, the market is fragmented into liquid, all-purpose, solid, cake/icing, and others. On the basis of application, the shortenings market is divided into snacks & savory products, bakery products, confectionery products, and others.

Global Shortenings Market: Growth Factors

The increasing demand for products that are low in calorie content worldwide offers new promising opportunities for the shortenings market players in the next few years. The increasing application base of baking ingredients triggers the global shortenings market. In recent years, there has been a rise in the demand for bakery products owing to their increasing popularity thus boosting the market growth globally. The other factors that are contributing to the market growth are increasing disposable income and the changing lifestyle of the people. There are certain factors that hamper the market in a negative way which include the increasing awareness about health regarding the over-consumption of fats and oils anticipates restricting the market growth. The growing population that is health-conscious hampers the market. The market players involved in the shortenings market are expected to face several challenges in the coming years owing to the development of substitutes.

Global Shortenings Market: Regional Analysis

Asia Pacific region is the one that is dominating the shortenings market owing to its key market share in terms of both value and volume. The major contribution from the countries such as Indonesia, Malaysia, China, and India estimates to augment the market growth in the coming years. The increasing purchasing power of consumers and the increasing population are the other factors that are contributing to the market growth in the Asia-Pacific region. The shortenings market in the Asia-Pacific region is expected to bloom in the coming years. In the European and the North American region the market growth is moderate. The factors that affect the market growth in a positive way are the improved lifestyle of the consumers and the increasing demand for bakery products in the developing regions.

Global Shortenings Market: Competitive Players

Some of the key market players that are involved in the shortenings market include Archer Daniels Midland Company, AAK AB, Bunge Limited, Manildra Group, Ventura Foods, LLC, International Foodstuff Company Holdings Limited, Cargill, Wilmar International Limited, Associated British Foods, and ConAgra Brands.

The report segments the Global Shortenings market as follows:

Global Shortenings Market: Key ingredients Segment Analysis

• Butter
• Lard
• Oil
• Tallow
• Others

Global Shortenings Market: Source Segment Analysis

• Animal
• Vegetable

Global Shortenings Market: Variant Segment Analysis

• Liquid
• All-purpose
• Solid
• Cake/icing
• Others

Global Shortenings Market: Application Segment Analysis

• Snacks & savory products
• Bakery products
• Confectionery products
• Others

Global Shortenings Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of The Middle East & Africa