Shortenings Market is Estimated to Witness High Growth Owing to Rising Demand for Convenience Foods

Market Overview:

Shortening is a solid fat used to improve the texture and flavor of baked goods. It adds tenderness and moistness in different bakery products such as cakes, pastries and bread.

Market Dynamics:

The shortening market is expected to witness significant growth over the forecast period, owing to rising demand for convenience foods and shifting consumer preference towards processed bakery products. Shortening is widely used in various bakery products and processed snacks due to its versatility and ability to improve texture. Moreover, the growth of food processing industry and expansion of retail landscape in developing regions is also expected to drive the demand for shortening over the forecast period. Rapid urbanization and increasing disposable income have led consumers to opt for convenience food products, thereby propelling the shortening market growth.

Two Leading Drivers Fueling the Growth of the Shortenings Market

Increasing consumer focus on healthy cooking oils as a substitute for butter is propelling the shortenings market forward. Shortening is touted as a healthier alternative to butter due to its lower saturated fat content. As people become more health-conscious, they are gravitating towards shortenings instead of butter or lard for cooking purposes. The wellness trend has prompted shortenings manufacturers to offer products lower in saturated fats and trans fats to capitalize on the health-driven demand.

Another major growth factor has been the rising demand for convenience foods. Busy lifestyles have compelled consumers to opt for convenience foods like ready meals that contain shortenings as a key ingredient. Shortenings aid food processors in developing products that can be easily prepared with minimal effort. They impart a flaky texture to baked goods and help maintain freshness by creating a barrier between air and food materials. The proliferation of convenience foods in the retail landscape has greatly stimulated sales of shortenings.

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Key Players Covered In This Report:

Cargill, Incorporated, Archer Daniels Midland Company, Bunge Limited, Wilmar International Ltd., Ventura Foods, Associated British Foods, AAK, and J. M. Smucker Company.

Key Region/Countries are Classified as Follows:

The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.

The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ Latin America (Brazil, Argentina, Colombia,.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

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Rising Raw Material Costs Pose a Significant Challenge in the Shortenings Industry

One of the biggest challenges facing shortenings producers is the volatility in raw material prices. Major shortenings are manufactured from vegetable oils, primarily palm oil and soybean oil. The prices of these commodities fluctuate substantially depending on several factors like weather conditions, crop yields, and geopolitical issues. Any supply disruptions or poor harvests translate to increased vegetable oil costs for shortenings manufacturers. As raw materials account for a sizable portion of overall production expenses, high and unpredictable commodity rates squeeze the profits of shortenings companies. While some producers attempt to transfer additional costs to customers, intense competition restricts the ability to raise product prices vastly. Fluctuating raw material costs have emerged as a notable threat restraining consistent growth in the shortenings industry.

Opportunity for Plant-Based Shortenings to Address Health and Sustainability Concerns

Growing consumer worries over health issues and sustainability have opened up an avenue for plant-based shortenings made from oils like sunflower, canola and coconut. Plant-based shortening formulations are attracting attention from health-conscious buyers due to advantages like lower saturated fat levels compared to animal-derived shortenings. The utilization of vegetable oils sourced from sustainable farming practices further enhances the eco-friendly image and marketability of plant-based shortenings. Leading shortenings brands are proactively exploring plant-based product lines featuring clean label ingredients and transparent sourcing to leverage the rising appeal of plant-based and sustainable functional foods. The increasing focus on health, environmental and ethical issues in the food industry has created lucrative prospects for innovations and reformulations in the shortenings category.

Emergence of Global Snacking Trend Augurs Well for the Future of Shortenings

Over the past decades, global snack food consumption has grown substantially in tandem with changing lifestyles and busy schedules. Short snacking sessions have largely replaced traditional mealtimes for many consumers. This proliferation of snacking habits worldwide is fueling interest in a wide variety of savory and sweet snack products that rely on shortenings as a key ingredient. Whether it is pastries, pies or handheld snacks, shortenings play a vital role in developing textures and flavors appreciated by snack lovers. Leading packaged food companies have also expanded their snacking portfolio targeted at customers always on-the-go. As snacking becomes more mainstream around the world, shortenings makers stand to profit from heightened demand from food processors and retailers catering to the skyrocketing global snacking trend.

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Key Benefits For Stakeholders

The report provides an in-depth analysis of the global bromine derivatives market trends along with the current and future market forecast.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
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A comprehensive global bromine derivatives market analysis covers factors that drive and restrain the market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.
The report answers a number of crucial questions, including:

➥ Which companies dominate the global Shortening market ?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?

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