Bakery Fat Market to Reach USD 2.47 Billion by 2034 Amid Rising Consumer Preferences

Future Market Insights (FMI) predicts the global bakery fat market will grow significantly, rising from USD 1420.2 million in 2024 to USD 2471.1 million by 2034. With a projected CAGR of 5.7%, this growth highlights the increasing demand for bakery fats, essential in making bread, cakes, pastries, and cookies.

Consumers are becoming more aware of the impact of dietary choices on their health. They prefer food products with improved nutritional values. There is a rising demand for safer and healthier bakery items among health-conscious consumers across the globe, which is driving market growth.

To stay competitive in the market, manufacturers are also adopting several growth strategies and approaches, such as direct-to-consumer and online retail sales models, to reach consumers with diverse product offerings. This aligns with changing consumer shopping habits and preferences for online convenience.

In the near future, consumers are likely to hunt for products that offer nutritional benefits, including those with functional ingredients, organic components, and gluten-free options. The growing ease of online shopping is projected to boost sales as key players leverage digital platforms to the broader consumer base.

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Key Takeaways from the Bakery Fat Market Report:

The bakery fat market is projected to grow at a CAGR of 5.7% during the forecast period.
The United States bakery fat market is expected to grow at a CAGR of 5.7% during the forecasted period.
Based on product type, the shortening segment is expected to dominate the market with 32% market share in 2024.
Based on end-use, the industrial segment is expected to hold a leading market share of 65% in 2024.
China is projected to surge at a CAGR of 7.7% by 2034.

"The bakery fat market is experiencing globalization, driven by rising consumption in developing regions. The rise of e-commerce platforms and digital marketing channels is also set to push demand. Manufacturers are leveraging these platforms to reach a wider audience and effectively promote their products."- says a lead analyst at Future Market Insights (FMI).

Competitive Landscape

AAK (UK) Limited, Cargill, ConAgra, CSM Bakery Solutions, Fuji Oil Co. Ltd., Goodman Fielder, Unilever, and Wilmar International are the key players. Leading companies are expanding their product portfolios and employing strategies like advertising, partnerships, acquisitions, agreements, and mergers to maintain market relevance and drive growth in the bakery fat market.

For instance,

In 2023, the Finsbury Food Group acquired Johnstone's Just Desserts. This tactical move allowed Finsbury to enrich its position in the bakery industry and secure a larger share of the market
In 2023, Investindustrial acquired CSM Ingredients from CSM Bakery Solutions. The transaction aimed to strengthen Investindustrial's position in the baking ingredients market.

Key Coverage in the Bakery Fat Industry Report

Bakery Fat Market Scope
India Bakery Ingredients Market Size & Share Analysis
Drivers for Bakery Fat Market Growth
Study on Bakery Fat Substitutes
Pricing Analysis of the Bakery Fat Market
Detailed Information on Shortening Fats Market Size, Top Bakery Fat Retailers in Market, and Specialty Fats & Oils Market Scope
Opportunities for Bakery Fat Market in India
Growth Potential of the United States Bakery Fat Industry

Comprehensive Industry Report: A Full Market Analysis. https://www.futuremarketinsights.com/reports/bakery-fat-market

Bakery Fat Market Segmentation by Category

By Type:

Shortening
Margarine
Bakery Oils
Others

By End-use:

Industrial
Residential

By Distribution Channel:

B2B
B2C
Hypermarket
Supermarket
Retail Stores
Online Retailing

By Region:

North America
Latin America
Europe
East Asia
South Asia
Oceania
Middle East and Africa

Explore FMI's Related Ongoing Coverage on Food and Beverage Industry

Bakery Ingredient Market: https://www.futuremarketinsights.com/reports/bakery-ingredients-market

Bakery Product Market: https://www.futuremarketinsights.com/reports/bakery-products-market

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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

This release was published on openPR.