The ‘Global Shortening Fats Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global shortening fats market, assessing the market on the basis of its segments like product type, application, and major region.
Shortening Fats Market Size, Share, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 4.30%
The global shortening fats market is expected to be driven by the expanding processed food sector, which is likely to increase the usage of palm kernel shortening fats. The growing acceptance of shortening fats as feed ingredients due to the health benefits they provide to livestock and poultry is anticipated to drive the growth of the global shortening fats market over the forecast period.
The global market for shortening fats is witnessing an upwards trajectory due to functional dominance, improved shortening fat formulations, and expansion of shortening fat applications. These fats provide a lubricating effect on food matrices, while impacting sensory qualities, particularly the texture and flavour. It is possible to create non-elastic pastries like cakes by using shortening to prevent the development of a gluten matrix in baked foods, which is a driving factor of the demand for shortening fats.
Rise in disposable income, which is driving up consumer spending on baked goods and confections, is one macroeconomic factor contributing to the growth of the global shortening fats market. One of the major developments in the market for shortening fats is the ban on trans fats in the food sector.
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Shortening Fats Industry Definition and Major Segments
Shortening fat refers to any sort of fat that is solid at room temperature, such as butter, margarine, and lard. By avoiding the formation of a gluten matrix in baked goods, shortening fats are employed to create non-elastic pastries like cakes. The use of these fats allow for the crumbly and crisp texture of foods.
Based on product type, the market is segmented into:
•Vegetable Based
- Breakup by Type
- Palm and Palm Kernel
- Sunflower Seed
- Soybeans
- Others
• Animal Based
- Breakup by Type
- Butter
- Tallow
- Lard
- Others
The market on the basis of application is divided into:
• Confectionery
• Ice Cream
• Snacks
• Bakery
• Others
On the basis of region, the market is classified into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
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Shortening Fats Market Trends
Key trends in the shortening fats market include the growing popularity of processed foods such as pasta and noodles which are widely consumed as staple foods in different nations. The need for easy food products has been driven by busy lifestyles and the desire for leisure time. The preparation time for dried, ready meals, dried pasta, dried noodles, and other processed foods is also reduced by employing shortening fat.
Due to the functional advantages of shortening fats, which include improved flexibility, higher smoke points, and longer shelf lives, they are often employed in bread items. Fat shortenings are used by bakers for the majority of their goods because they have both functional advantages and low processing levels compared to other options.
North America holds a significant share in the shortening fats market , supported by the well-established bread sector across strong economies. Additionally, the demand for freshly baked goods like bread, cake, pies, and other baked goods along with consumers’ preferences for healthy eating are fuelling market expansion in the region.
Key Market Players
The major players in the global shortening fats market report are Cargill, Incorporated, Bunge Limited, Pristine Baking Solutions, Soren Srl, and AAK AB, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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