Specialty Shortenings Market to Witness Exponential Growth by 2018 - 2028
Specialty shortenings help to enhance the flavor of food products and a major contributor to the product structure, texture, eating characteristics, quality and long storage life of the finished products. Vegetable shortenings have low-trans-fat property as compared to animal shortenings. Palm oil is the main source of specialty shortenings. The processed food or baked product needs the content of shortenings to protect the product. As increasing demand for bakery and conventional food products, demand and opportunity for specialty shortening market is also increasing.
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The key players operating in the Global Specialty Shortenings Market are MOI International Pty Ltd, PT SMART Tbk., Cargill Incorporated, AAK International, Batory Foods, Wilmar International Ltd., IFFCO International, Musim Mas Holdings Pte. Ltd., Pyramid Wilmar (Pvt) Ltd., The Nisshin OilliO Group, Ltd., Hubberts Industries., A S Harrison & Co Pty Limited, Catania Spagna, Archer Daniels Midland Company. ICC Group. The key manufacturer are looking for strategic business development for catering new market opportunities.
Specialty shortenings are mainly used in the bakery products to make crisp and crumbly texture to baked products and to increase the plasticity of dough. The demand for low-trans-fat property specialty shortening is increasing on the basis of consumer requirements for less fat containing products. Increasing demand for bakery products worldwide is the biggest driver for generating demand for specialty shortening market. Specialty shortening is the key ingredient while making the bakery products including cakes, pastries, bread, and cookies.
Other than bakery products specialty shortenings are used in dairy products, chocolate, ice cream, pharmaceutical, cosmetic and other industries. Milk products and confectionary products are always in the higher demand globally, manufacturing these products require more amount of specialty shortenings to improve texture and life shell of the products, which is driving the opportunities for
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On the basis of source, Global Specialty Shortenings Market has been segmented into:-
On the basis of type, Global Specialty Shortenings Market has been segmented into:-
On the basis of application, Global Specialty Shortenings Market has been segmented into:-
• Shelf life Enhancer
On the basis of distribution channel, Global Specialty Shortenings Market has been segmented into:-
• Business to Business
• Business to Consumer
• Supermarkets/ Hypermarkets
• Online retail
• Convenience stores
On the basis of end use, Global Specialty Shortenings Market has been segmented into:-
• Food and beverages
On the basis of region, Global Specialty Shortenings Market has been segmented as,
• North America
• Latin America
• South Asia
• Middle East & Africa
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Global food trends are changing dramatically, people are demanding quick and convenient food sources due to the changing lifestyle. Bakery products can fulfill this demand by providing quick and healthy food, which takes minimum time to make a ready to eat products as compared to other products. This is the reason bakery products and the industry is growing in a very vast range globally and in a parallel way creating a huge opportunity for the specialty shortenings market.
North America is the highest consuming and producing region of specialty shortenings in the world. Asia-Pacific countries are developing in terms of economy and population, and consumption of bakery food in this region is growing rapidly which is the huge opportunity for global specialty shortening markets players.
The Middle East and African countries have a higher consumption of bakery products, especially bread and cookies which is creating demand for ingredients for specialty shortening market players.
Pharmaceutical and cosmetic industries have a huge market worldwide, many of the pharmaceutical and cosmetic products contain specialty shortenings as essential ingredients in the products, which is boosting the market for global specialty shortenings market growth.
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