Global Shortenings Market: Overview
Shortenings can be considered as 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 the 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, source, variant, and application. 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 the products that is low at calorie content worldwide offers new promising opportunities for the shortenings market players in the next few years. The increasing application base of the baking ingredients triggers the global shortenings market. In the recent years, there has been a rise in the demand for the bakery product owing to its 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 includes 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 the 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 the 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 the 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.
Global Shortenings Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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