Shortenings Global Market 2024 To Reach $5.28 Billion By 2028 At Rate Of 4.5%

Shortenings Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company has updated all its market reports with the latest information for the year 2024, projecting trends and forecasts until 2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 3, 2024 /EINPresswire.com/ -- The shortenings market² has experienced robust growth in recent years, expanding from $4.24 billion in 2023 to $4.43 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to traditional culinary practices, bakery and confectionery industry growth, demand for processed foods, rise in fast-food consumption, focus on shelf-life extension, consumer preferences for texture and mouthfeel.

What Is The Estimated Market Size Of The Global Shortenings Market And Its Annual Growth Rate?
The shortenings market is projected to continue its strong growth, reaching $5.28 billion in 2028 at a compound annual growth rate (CAGR) of 4.5%. The growth in the forecast period can be attributed to health-conscious consumer choices, clean label preferences, plant-based and specialty fats, gluten-free and allergen-free products, globalization of culinary preferences.

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Growth Driver Of The Shortenings Market
The increasing demand for bakery products is driving the shortenings market. The bakery industry includes the sales of baked foods such as bread, and cakes. The increasing demand for gourmet products and changing food habits are leading to a rise in bakery products. Shortenings improve bakery products by providing a rumbly and crisp texture and preventing the dish from becoming stretchy and elastic.

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Who Are The Key Players Shaping The Shortenings Market Trends?
Key players in the market include Cargill Incorporated, Bunge Limited, Wilmar International Limited, Archer Daniels Midland Company, Ventura Foods LLC, AAK AB, Manildra Group, International Foodstuff Company Holdings Limited, Conagra Brands Inc., Stratas Foods LLC, Premium Vegetable Oils Sdn Bhd, Namchow Chemical Industrial Co. Ltd., Fuji Oil Co. Ltd., Kerry Group PLC, AarhusKarlshamn AB, Upfield Holdings BV, NMGK Group, BRF SA, Yildiz Holding AS, Mallet & Company Inc., Lonza Group AG, Palsgaard A/S, Walter Rau Neusser Öl und Fett AG, Puratos Group NV, Princes Limited, Zeelandia International BV, Olenex Sàrl, HAS Group, VFI GmbH, COFCO Group Co. Ltd., DuPont Nutrition and Health, Stepan Specialty Products LLC, Fine Organics Limited.

What Are The Dominant Trends In Shortenings Market Growth?
Major companies operating in the market are developing new solutions for instant noodles such as VALTEQ AO to gain a competitive edge in the market. VALTEQ AO combines natural antioxidants and emulsifiers to extend shelf life and enhance overall quality.

How Is The Global Shortenings Market Segmented?
1) By Variant: Solid, Liquid, Cake/Icing, All-purpose
2) By Source: Vegetables, Animal
3) By Sales Channels: Direct Sales, Indirect Sales
4) By End User: HoReCa, Bakery, Confectionery, Processed Food, Household Retail

Geographical Insights: North America Leading The Shortenings Market
North America was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Shortenings Market Definition
Shortening is a solid fat at room temperature that can be used to give dishes such as pastry a crumbly and crisp texture. Coating the flour in fat stops it from absorbing water, which inhibits the production of gluten and prevents the dish from becoming stretchy and elastic.

Shortenings Global Market Report 2024³ from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Macroeconomic factors affecting the market in the short and long run
• Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

An overview of the global shortenings market report covering trends, opportunities, strategies, and more
The Shortenings Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on shortenings market size, shortenings market drivers and trends, shortenings market major players and shortenings market growth across geographies. This report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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