Shortening Market size to grow by USD 1,249.49 million from 2022 to 2027| High consumption of bakery products drives market - Technavio

NEW YORK, June 30, 2023 /PRNewswire/ -- The shortening market size is estimated to increase by USD 1,249.49 million from 2022 to 2027. The market's growth momentum will be progressing at a CAGR of 4.93%. Discover some insights on market size, historic period (2017 to 2021), and Forecast (2023 to 2027) before buying the full report -Request a sample report

Shortening Market – Vendor Analysis
Vendor Landscape - The global shortening market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer shortening in the market are AAK AB, Archer Daniels Midland Co., B and G Foods Inc., Bunge Ltd., Cargill Inc., CAROTINO SDN BHD, Fuji Oil Co. Ltd., Gujarat Ambuja Exports Ltd., IFFCO Group, Manildra Flour Mills Pty. Ltd., Olivia Impex Pvt. Ltd., Palsgaard AS, Premium Oils and Fats Sdn Bhd, Riken Vitamin Co. Ltd., S.S.D. Oil Mills Co. Ltd., Stratas Foods, Vantage Specialty Chemicals, Ventura Foods LLC, Wilmar International Ltd., Associated British Foods Plc and others.

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Vendor Offerings -

• AAK AB - The company offers shortening solutions such as liquid shortenings designed for intense applications where stability is a necessity, which simplifies cooking with liquid convenience and enhances flavor without adding costs.
• Archer Daniels Midland Co. - The company offers shortening solutions such as NovaLipid shortening, and NovaLipid Fluid Shortening.
• B and G Foods Inc. - The company offers shortening solutions through its subsidiary ACH Foods.
• For details on the vendor and its offerings – Request a sample report

Shortening Market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on source (vegetables and animals), channel (indirect channel and direct channel), and geography (Europe, North America, APAC, South America, and the Middle East and Africa)

• The market share growth by the vegetables segment will be significant during the forecast period. As consumers are increasingly concerned about the health impacts of consuming saturated fats and trans fats, there is an increase in demand for the vegetable segment. Vegetable-based shortening, sourced from oils like soybean, sunflower, or canola oil, is generally lower in saturated fats and does not contain trans fats one of the main advantages of this segment. Factors such as the rise of plant-based diets and veganism have led to increasing demand for vegetable-based alternatives in different food products, including shortening. This segment is the most desired segment of shortening by consumers as it is generally made from oils that undergo minimal processing without the use of artificial additives or preservatives. The major affiliates of consumers who prefer this segment are individuals with dietary restrictions or allergies, such as those avoiding dairy or lactose. Therefore, these factors are expected to fuel the global shortening market growth during the forecast period.

Geography Overview
By geography, the global shortening market is segmented into Europe, North America, APAC, South America, and the Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global shortening market.

• Europe is estimated to account for 36% of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The factors such as baked products are an integral part of the culinary culture which drives the demand significantly and is one of the major reasons for the dominating market share of shortening in Europe. Some of the main baked goods, including cakes, pastries, and desserts, play a prominent role in cafe menus which positively influences the demand for shortenings. However, there is a high demand for shortenings, and factors such as shortening being high in saturated fats have led some consumers to seek healthier alternatives such as vegan butter. Therefore, customers are increasingly favouring plant-based alternatives to traditional shortenings, such as vegetable oils, coconut oil, or plant-based margarine. Thus, these factors are anticipated to drive the global shortening market growth in the region during the forecast period.

For insights on global, regional, and country-level parameters with growth opportunities from 2017 to 2027 - Download a Sample Report

Shortening Market – Market Dynamics
Leading Drivers - 

The high consumption of bakery products is a major factor driving the shortening market growth. Factors such as varying consumer choices, lifestyle trends, cultural influences, and economic situations are particularly driving the high demand for bakery products. The key application of shortening is in bakery products as it has a higher melting point compared to butter, which helps to make a tender and flaky texture in baked goods, such as pie crusts, biscuits, and pastries. The major characteristic of shortening is its low moisture content which helps to prevent spoilage and rancidity, contributing to the longer shelf life of baked goods made with shortening. Due to consumers' growing preference for snacks and other on-the-go food products, it is expected to drive the global shortening market growth during the forecast period.

Key Trends - 

Plant-based and vegan shortenings are expected to have a positive impact on the shortening market. The rising popularity of plant-based diets and the growing demand for vegan products are expected to have a substantial influence on the market. The major sources of these shortenings include vegetable oils or other plant-based sources such as coconut and are free from animal-derived ingredients such as margarine. Several manufacturers are introducing plant-based and vegan options to cater to this expanding consumer segment due to the increasing demand for these plant-based and vegan shortenings. There is a growing popularity for products that are perceived as healthier owing to the rising health consciousness among customers. Therefore such factors are anticipated to drive the global shortening market growth during the forecast period.

Major challenges - 

Health issues associated with shortening will be a major challenge hindering the shortening market growth. Factors such as increasing awareness about the adverse health impacts of consuming trans fats and saturated fats have led many consumers to seek healthier alternatives. There is a growing concern regarding the potential adverse effects on cardiovascular health as shortening is very high in trans fats and saturated fats. Therefore, Consumers prefer other alternatives for shortening, including vegetable oils or plant-based fats, due to this health concern. Further, other aspects, such as changing dietary preferences and trends also affect the demand for shortening. Therefore, these factors are expected to hinder the global shortening market growth during the forecast period.

 Drivers, Trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this Shortening Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the shortening market between 2023 and 2027
• Precise estimation of the shortening market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the shortening market industry across Europe, North America, APAC, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of shortening market vendors

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Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Source
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global shortening market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on global shortening market 2017 - 2021 ($ million)

• 4.2 Source Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Source Segment 2017 - 2021 ($ million)

• 4.3 Channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Channel Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Source

• 6.1 Market segments 
• Exhibit 30: Chart on Source - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Source - Market share 2022-2027 (%)

• 6.2 Comparison by Source 
• Exhibit 32: Chart on Comparison by Source
• Exhibit 33: Data Table on Comparison by Source

• 6.3 Vegetables - Market size and forecast 2022-2027
• Exhibit 34: Chart on Vegetables - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Vegetables - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Vegetables - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Vegetables - Year-over-year growth 2022-2027 (%)

• 6.4 Animal - Market size and forecast 2022-2027
• Exhibit 38: Chart on Animal - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Animal - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Animal - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Animal - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Source 
• Exhibit 42: Market opportunity by Source ($ million)
• Exhibit 43: Data Table on Market opportunity by Source ($ million)

7 Market Segmentation by Channel

• 7.1 Market segments 
• Exhibit 44: Chart on Channel - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Channel 
• Exhibit 46: Chart on Comparison by Channel
• Exhibit 47: Data Table on Comparison by Channel

• 7.3 Indirect channel - Market size and forecast 2022-2027
• Exhibit 48: Chart on Indirect channel - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Indirect channel - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Indirect channel - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Indirect channel - Year-over-year growth 2022-2027 (%)

• 7.4 Direct channel - Market size and forecast 2022-2027
• Exhibit 52: Chart on Direct channel - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Direct channel - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Direct channel - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Direct channel - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Channel 
• Exhibit 56: Market opportunity by Channel ($ million)
• Exhibit 57: Data Table on Market opportunity by Channel ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 59: Chart on Market share by geography 2022-2027 (%)
• Exhibit 60: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 61: Chart on Geographic comparison
• Exhibit 62: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 63: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 71: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 72: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 73: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 83: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 France - Market size and forecast 2022-2027
• Exhibit 87: Chart on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on France - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 China - Market size and forecast 2022-2027
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 103: Market opportunity by geography ($ million)
• Exhibit 104: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 105: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 106: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 107: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 108: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 109: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 110: Matrix on vendor position and classification

• 12.3 AAK AB 
• Exhibit 111: AAK AB - Overview
• Exhibit 112: AAK AB - Business segments
• Exhibit 113: AAK AB - Key news
• Exhibit 114: AAK AB - Key offerings
• Exhibit 115: AAK AB - Segment focus

• 12.4 Archer Daniels Midland Co. 
• Exhibit 116: Archer Daniels Midland Co. - Overview
• Exhibit 117: Archer Daniels Midland Co. - Business segments
• Exhibit 118: Archer Daniels Midland Co. - Key offerings
• Exhibit 119: Archer Daniels Midland Co. - Segment focus

• 12.5 Associated British Foods Plc 
• Exhibit 120: Associated British Foods Plc - Overview
• Exhibit 121: Associated British Foods Plc - Business segments
• Exhibit 122: Associated British Foods Plc - Key offerings
• Exhibit 123: Associated British Foods Plc - Segment focus

• 12.6 B and G Foods Inc. 
• Exhibit 124: B and G Foods Inc. - Overview
• Exhibit 125: B and G Foods Inc. - Product / Service
• Exhibit 126: B and G Foods Inc. - Key offerings

• 12.7 Bunge Ltd. 
• Exhibit 127: Bunge Ltd. - Overview
• Exhibit 128: Bunge Ltd. - Business segments
• Exhibit 129: Bunge Ltd. - Key news
• Exhibit 130: Bunge Ltd. - Key offerings
• Exhibit 131: Bunge Ltd. - Segment focus

• 12.8 Cargill Inc. 
• Exhibit 132: Cargill Inc. - Overview
• Exhibit 133: Cargill Inc. - Product / Service
• Exhibit 134: Cargill Inc. - Key news
• Exhibit 135: Cargill Inc. - Key offerings

• 12.9 CAROTINO SDN BHD 
• Exhibit 136: CAROTINO SDN BHD - Overview
• Exhibit 137: CAROTINO SDN BHD - Product / Service
• Exhibit 138: CAROTINO SDN BHD - Key offerings

• 12.10 IFFCO Group 
• Exhibit 139: IFFCO Group - Overview
• Exhibit 140: IFFCO Group - Product / Service
• Exhibit 141: IFFCO Group - Key offerings

• 12.11 Manildra Flour Mills Pty. Ltd. 
• Exhibit 142: Manildra Flour Mills Pty. Ltd. - Overview
• Exhibit 143: Manildra Flour Mills Pty. Ltd. - Product / Service
• Exhibit 144: Manildra Flour Mills Pty. Ltd. - Key offerings

• 12.12 Olivia Impex Pvt. Ltd. 
• Exhibit 145: Olivia Impex Pvt. Ltd. - Overview
• Exhibit 146: Olivia Impex Pvt. Ltd. - Product / Service
• Exhibit 147: Olivia Impex Pvt. Ltd. - Key offerings

• 12.13 Palsgaard AS 
• Exhibit 148: Palsgaard AS - Overview
• Exhibit 149: Palsgaard AS - Product / Service
• Exhibit 150: Palsgaard AS - Key offerings

• 12.14 Stratas Foods 
• Exhibit 151: Stratas Foods - Overview
• Exhibit 152: Stratas Foods - Product / Service
• Exhibit 153: Stratas Foods - Key offerings

• 12.15 Vantage Specialty Chemicals 
• Exhibit 154: Vantage Specialty Chemicals - Overview
• Exhibit 155: Vantage Specialty Chemicals - Product / Service
• Exhibit 156: Vantage Specialty Chemicals - Key offerings

• 12.16 Ventura Foods LLC 
• Exhibit 157: Ventura Foods LLC - Overview
• Exhibit 158: Ventura Foods LLC - Product / Service
• Exhibit 159: Ventura Foods LLC - Key offerings

• 12.17 Wilmar International Ltd. 
• Exhibit 160: Wilmar International Ltd. - Overview
• Exhibit 161: Wilmar International Ltd. - Business segments
• Exhibit 162: Wilmar International Ltd. - Key news
• Exhibit 163: Wilmar International Ltd. - Key offerings
• Exhibit 164: Wilmar International Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 165: Inclusions checklist
• Exhibit 166: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 167: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 168: Research methodology
• Exhibit 169: Validation techniques employed for market sizing
• Exhibit 170: Information sources

• 13.5 List of abbreviations 
• Exhibit 171: List of abbreviations

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