Shortening Market to Reach USD 1.24 Billion by 2027

The worldwide Shortening Market is anticipated to grow by USD 1.24 billion, with a CAGR of 4.93% from 2022 to 2027. The increasing popularity of bakery products is a primary driver of this market expansion. Key factors such as evolving consumer preferences, lifestyle changes, cultural influences, and economic conditions significantly contribute to the high demand for baked goods and fresh bakery items.

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Key Role of Shortening in Bakery Products

Shortening, a vital ingredient in bakery products, offers a higher melting point than butter, creating a tender and flaky texture in items like pie crusts, biscuits, and pastries. Its low moisture content prevents spoilage and rancidity, extending the shelf life of baked goods. The growing consumer preference for snacks and on-the-go foods is expected to propel market growth during the forecast period.

Market Segmentation

The market research report covers segmentation by distribution channel (online and offline), source (vegetable and animal), and geography (North America, Europe, Asia, and Rest of the World). The report also includes historical market data from 2017 to 2021. The market thrives on factors like hydrogenation and room temperature stability, with applications across foodservice sectors.

 In bakeries and confectioneries, shortening enhances elasticity and structure, contributing to delicate textures and appealing mouth-feels. Functional nutrients like prebiotics address health concerns such as obesity and cardiovascular diseases. The fragmented market, including indie and private label bakers, has room for development through improved formulations and premium artisanal baked goods.

Key Market Drivers and Trends

Distribution Channels

Indirect sales channels, including wholesalers, distributors, retailers, and online marketplaces, will account for significant market growth. These channels help vendors reach a broader market through established networks and customer bases, potentially increasing product demand.

Source of Shortening

Vegetable-based shortening will see significant growth due to health-conscious consumers avoiding saturated and trans fats. Vegetable fats, sourced from oils like soybean, sunflower, or canola, are lower in saturated fats and free of trans fats, making them a preferred choice.

Industry Dynamics and Trends

Sector Applications

The market caters to various sectors, including confectionery, bakery, and snacks & savory industries. Shortening is essential for maintaining the structure of baked goods, ensuring optimal air incorporation and heat transfer. The rising demand for healthier alternatives to traditional shortening due to health concerns about trans-fatty acids is notable.

Plant-Based Trends

Plant-based and vegan shortenings are gaining popularity, driven by the growing adoption of plant-based diets and the demand for vegan products. Manufacturers are introducing plant-based options, perceived as healthier due to rising health consciousness among consumers.

Competitive Landscape

Leading companies are adopting strategies like alliances, partnerships, mergers and acquisitions, geographical expansion, and new product launches to strengthen their market presence. Notable companies include:

  • Fuji Oil Co. Ltd: Offers Carotino red palm fruit oil.
  • Archer Daniels Midland Co: Provides NovaLipid and NovaLipid Fluid.
  • AAK AB: Specializes in liquid shortening for stable applications, enhancing flavor and convenience.

Industry Outlook

The market encompasses various ingredients like pastry and vegetable oils, essential for products in the snacks & savory and processed food sectors. Innovations from companies like Cargill Incorporated and Bunge North America, Inc., drive market dynamics. The market extends to confectionery and frozen food industries, targeting urban households and fostering growth through new product launches.

Premium shortening, used in baking sectors for products like bread and cookies, focuses on factors like shelf-life, smoke point, and plasticity. The shift towards healthier options continues amidst the pandemic, with a preference for clean-label and functional ingredients. Vegetable oils, vegetable fats, and dietary fibers are emphasized for healthier alternatives, reflecting evolving consumer preferences

 

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Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com/


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