Shortening Market Size, Share, Global Analysis, Trend, Leading Key Players Review and Forecast to 2023

Market Highlights:

Shortening is any fat that is solid at room temperature and used in cooking purpose for bakery, confectionery, and other products. The term shortening is often used for hydrogenated vegetable oil which technically refers to all type of solid fats and is gaining demand due to the major applications of shortenings in baking and cooking. Shortening is also used in food preparations that require deep frying owing to its high smoke point. Moreover, it is used as a pan coating to prevent baked goods from sticking to the pan. Consumption of shortening involves health benefits such as unsaturated fat present in shortening reduces the risk of heart disease thereby driving the growth of shortening market.

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Top Key Players:

The J. M. Smucker Co. (US), Nutiva Inc. (US), Ventura Foods (US), Archer Daniels Midland Company (US), Cargill, Inc. (US), Bunge Ltd. (US), Associated British Foods plc (UK.), OJSC Nizhny Novgorod Fats & Oils Group (Russia), Conagra Brands, Inc. (US), Wilmar International Ltd. (Singapore), and Fuji Oil Co., Ltd. (Japan) are few of the key players operating in global shortening market.

Regional Analysis:

Global shortening market has been segmented, by region into North America, Europe, Asia-Pacific, and Rest of the World. The shortening market in North America has further been segmented into the US, Canada, and Mexico. Geographically, Asia-Pacific is anticipated to dominate the global shortening market during the forecast period owing to the increase in consumption in developing countries such as China and India. The shortening market in North America is expected to be the fastest market due to the increasing consumption of snacks and baked products such as donuts, pies, and cookies in this region.

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Segmentation:

Global shortening market has been segmented into product source, claim, application, and region.

The market based on product source has been segmented into vegetable shortening, animal shortening, and others. Vegetable shortening segment dominates the market. High demand for vegetable-based shortening can be attributed to its abundant supply of raw material and increasing awareness among consumers about healthy alternatives.

Based on claim, the market has been segmented into organic, non-GMO, vegan, kosher, gluten-free and others. Organic segment dominates the shortening market owing to the cultivation method of raw materials. Organic shortenings are made of ingredients that are grown without the use of chemical additives.

Based on application, shortening market is segmented into bakery products, confectionery products, ice cream, snacks, and others. The bakery product segment accounts for the maximum share in shortening market owing to change in eating habits among consumers and increasing inclination for convenience as well as flour products.

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This release was published on openPR.