About Shortening Fats
Shortening fats is refer as a fats which is been used in cooking and baking. It is basically made from the hydrogenated vegetable oil. The market of shortening fats is growing due to increasing consumption of bakery products across various region, also it helps in enhancement of texture and flavor of food. But there are some factor which are hindering or challenging the shortening fats market, like health concern associated with the product and also the availability of substitute is possessing threat to market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.76% |
The key players are adopting strategic developments such as new product launches, acquisitions, joint ventures, expansions, collaborations & partnerships, and agreement & investments, in order to explore the market in new geographies. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Shortening Fats market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Archer Daniels Midland Company (United States), Cargill (United States), AAK AB (Sweden), Wilmar International Limited (Singapore), Bunge Limited (United States), Manildra Group (Australia), Associated British Foods (United Kingdom), Ventura Foods, LLC (United States), ConAgra Brands (United States) and International Foodstuff Company Holdings Limited (UAE) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Unilever, NMGK Group and Fuji Oil.
Segmentation Overview
AMA Research has segmented the market of Global Shortening Fats market by Type (Soybean and Maize, Rapeseeds and Sunflower Seed, Palm and Palmkernel, Coconut and Linseed, Groundnut and Others), Application (Confectionary, Ice Cream, Snacks and Bakery) and Region.
On the basis of geography, the market of Shortening Fats has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Variant, the sub-segment i.e. Solid will boost the Shortening Fats market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Source, the sub-segment i.e. Vegetable will boost the Shortening Fats market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Changing Lifestyles Causing Rise in Demand for Food Products
Market Growth Drivers:
Rise in Demand for Shortenings in Bakery Products Due to Increasing Demand for Baked Foods and Help in Enhancement of Texture and Flavor
Challenges:
Increase in Usage of Substitutes for Shortenings Fats and Demand for Clean Label Products From Consumers
Restraints:
Health Concerns Related to Excessive Consumption of Fats & Oils
Opportunities:
Demand for Low-Calorie Products From Consumers and Emerging Applications of Baking Ingredients
Market Leaders and their expansionary development strategies
In October 2023, Celanese Corporation announced the global commercial launch of two new polyamide solutions for manufacturers of Electric Vehicle (EV) powertrain components and EV battery applications. The Frianyl® PA W-Series of flame-retardant polyamide solutions enables the manufacturing of large, thick-walled, flame-retardant components for EV batteries.
In Deember 2020, Cargill introduced a palm oil shortening line for the bakery industry called PalmAgility. The company said the palm oil helps reduce brittleness across a broader range of temperatures and can be easily stored without losing workability or texture.
Key Target Audience
Raw material suppliers/growers, Oilseed suppliers/growers, Fat and/or oil processors/manufacturers, Intermediary suppliers, Consumers, Research institutes and organizations and Government bodies, venture capitalists, and private equity firms
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.