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Global Shortening Market: Overview
The global shortening market is expected to grow in the 2018-2028 forecast period. The reason for this growing importance of the global shortening market is its wide range of applications in the food sector. Because of the myriad of health benefits offered by shortening, it is increasingly used by the food and bakery industry. The market has therefore gained popularity.
Shortening is a fat made from animal fat and vegetable oil. It is used for both cooking and cooking. Shortening, by and large, refers to any fat that stays solid at room temperature. Shortening is made from partial or complete vegetable source, including pal and soybean oil. Consumers are increasingly choosing to switch from plant source to animal source.
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The global shortening market has been segmented based on the following parameters: source, type, application, and region. Lard, hydrogenated oils and even butter can be used as shortening. Shortening generally refers to hydrogenated oils widely used in the early 20th century.
Global Shortening Market: Notable Developments
The competitive dynamics of the global shortening market have improved in recent times. Some of the notable developments related to the competitive landscape of the global shortening market are:
- Earlier this year, US-based Archer Daniels Midland, a US company, announced that it had successfully completed Neovia's acquisition. Based in France, Neovia is a leading producer of animal feed. The acquisition has created a world leader in value-added solutions and products for livestock and production animals. The acquisition of Neovia represents a milestone and a breakthrough in achieving Archer Daniels Midland's strategic plan to become a global leader in nutrition.
Archer Daniels Midland Company, J.M. Smucker Company, OJSC Nizhny Novgorod Greases and Oils Group, Cargill, Inc., Associated British Foods plc and Wilmar International Ltd. are some of the names you can rely on in the global shortening market. New regional players are expected to appear in the global shortening market in the coming years.
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Global Shortening Market: Drivers of Growth
- Increasing health awareness increases demand for plant-based shortening
The reduction in plant-based consumption is expected to lead the market during the forecast period due to increased awareness of health products. The growing consumer demand for shortening trans fat free vegetables is also expected to fuel the market. Vegetable fats come from a variety of plant sources, such as peanut, soy, coconut, palm, sunflower, etc.
- Change the preferences of the masses
Over the 2019-2027 forecast period, the global shortening market would be fueled by its growing application in the bakery sector. Fats will be widely used in the bakery segment to achieve the desired freshness, texture and volume.
Global Shortening Market: Regional Perspectives
Based on geography, the global shortening market has been segmented into North America, Asia Pacific, Latin America, Middle East and Africa and Europe. Regionally, the Asia-Pacific is expected to be the fastest-growing region in the global shortening market.
The reason for this dominance is the increase in production and consumption of flour products in developing countries, such as India and China. The improvement in the purchasing power of consumers in the region, combined with changes in their eating habits, has led to an increase in the consumption of baked goods and confectionery. Such a shift is expected to propel growth in the global shortening market over the forecast period.
The North American consumer reduction market is expected to grow rapidly between 2019 and 2027 due to increased consumption of convenience foods in the region.
The global shortening market is segmented as follows:
Based on the type
- All purpose shortening
- Emulsified shortening
- High stability shortening
Based on the source
Based on the application
- Confectionery and Pastry
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