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Global Shortening Fats Market Share, Size, Trends, Growth, Forecast: By Product Type: Vegetable Based, Animal Based; By Application: Confectionery, Ice Cream, Snacks, Bakery, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
Global Shortening Fats Market Outlook
The global shortening fats market size is expected to grow at a CAGR of 4.30% in the forecast period between 2024 and 2032, driven by the growing processed food industry.
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Key Trends in the Market
Shortening fats refer to any type of fat that is solid at room temperature, such as butter, margarine, and lard. Shortening fats are used to make non-elastic pastries like cakes by preventing the development of a gluten matrix in baked foods. Foods like pastries can have a crumbly and crisp texture due to the usage of shortening fats.
- The global shortening fats market is expanding due to the functional dominance, improved formulations, and expanding uses of shortened fats. Shortening fats have a lubricating effect on food matrices and also have an impact on sensory qualities, particularly the texture and flavour. Shortening is commonly used in non-elastic pastries like cakes.
- During the forecast period, the global shortening fats market is expected to increase as a result of the rapid advancements in shortening fats. Different types of breads utilise speciality fats in varying degrees. In other types of breads, when fats are used at higher amounts they help prevent excess gluten production in the dough. The fats used in bread production are also known as ‘shortening’ since they result in a shorter bite and effortlessly melt-in-mouth texture.
- The expansion of the global market for shortening fats can also be attributed to macroeconomic reasons including the rise in middle-class households' disposable income, which is leading to an increase in consumer expenditure on baked goods and confectioneries. The prohibition of trans fats in the food business is one of the key trends in the market for shortening fats that has been observed. As a result, shortening fats are becoming more common as trans-fat and acid-free fats are utilised in confectionery food products.
Global Shortening Fats Market Analysis
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Based on product type, the market is segmented into vegetable based and animal based. Vegetable based are further categorised by type into palm and palm kernel, sunflower seed, and soybeans, among others, whereas animal based is sub-divided based on type into butter, tallow, and lard, among others. On the basis of application, the market is divided into confectionery, ice cream, snacks, and bakery, among others. The regional markets for shortening fats can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global shortening fats market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Cargill, Incorporated
- Bunge Limited
- Pristine Baking Solutions
- Soren Srl
- AAK AB
- Others
Market Share by Application
The bakery applications of shortening fats are expected to hold a sizable market share. This expansion can be attributed to the daily increase in demand for bakery goods brought on by changing lifestyles, growing populations, and economic advancements. For the creation of bakery shortenings, fully hydrogenated soybean oil obtained from soybeans that contain no trans fats are often used as hard fat. Rapid urbanisation and the growing need for ready-to-eat or fast food products are further helping the shortening fats market growth.
In addition, the confectionery applications is anticipated to expand at a fast CAGR during the forecast period due to the extensive use of shortening fats in confectionery. Usage of shortening fats imparts their distinctive flavour and shortening characteristics. Shortening based on roasted whole soybeans and their flour as ingredients is also growing in use in regional confectionery products and snacks.
Market Share by Region
North America is expected to account for a significant share in the shortening fats market. The established bread industry in North America is fundamental for the region's expansion. Also, the consumers' preferences for healthy eating, particularly with regard to freshly baked items like bread, cake, pies, and other baked goods, is propelling the market growth in the region.
Over the course of the forecast period, the Asia Pacific region is anticipated to exhibit a fast growth rate. This is attributable to factors such as the significant consumption of confectionery goods and the region's dominant position in the confectionery sector. The expansion of the global shortening fats market in the Asia Pacific is further fuelled by the rising production and demand. China is a fastest-growing consumer market for shortening fats, particularly those sourced from soybeans.
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Competitive Landscape
Cargill, Incorporated, headquartered in the United States and founded in 1865, has operations in the areas of refined oils, food ingredients, grain and oilseeds, cotton, animal nutrition, industrial specialties, and trade structured finance. Cargill sells popular consumer brands of edible oils such as Sunflower brand of hydrogenated fats, Nature Fresh, Gemini, Sweekar, Leonardo Olive Oil, and Rath.
Bunge Limited, was founded in 1818 in the Netherlands, and is currently headquartered in Missouri in the United States. The company is a major manufacturer and supplier of agricultural fertilisers as well as edible oil, milled rice, and wheat products. It is also a global leader in oilseed processing and a leading producer and supplier of speciality plant-based oils and fats.
Soren Srl, an Italian company, has been in the food business since the 1960s. With headquarters in Corsico, Italy, the company specialises in the designing and building of automatic systems that are used for various food industry processes. The primary items that can be produced with Soren's technologies are ice cream, oils and fats, and pastries.
Other market players include Pristine Baking Solutions and AAK AB, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Shortening Fats Market Analysis
8.1 Key Industry Highlights
8.2 Global Shortening Fats Historical Market (2018-2023)
8.3 Global Shortening Fats Market Forecast (2024-2032)
8.4 Global Shortening Fats Market by Product Type
8.4.1 Vegetable Based
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2023)
8.4.1.3 Forecast Trend (2024-2032)
8.4.1.4 Breakup by Type
8.4.1.4.1 Palm and Palm Kernel
8.4.1.4.2 Sunflower Seed
8.4.1.4.3 Soybeans
8.4.1.4.4 Others
8.4.2 Animal Based
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2023)
8.4.2.3 Forecast Trend (2024-2032)
8.4.2.4 Breakup by Type
8.4.2.4.1 Butter
8.4.2.4.2 Tallow
8.4.2.4.3 Lard
8.4.2.4.4 Others
8.5 Global Shortening Fats Market by Application
8.5.1 Confectionery
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2023)
8.5.1.3 Forecast Trend (2024-2032)
8.5.2 Ice Cream
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2023)
8.5.2.3 Forecast Trend (2024-2032)
8.5.3 Snacks
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2023)
8.5.3.3 Forecast Trend (2024-2032)
8.5.4 Bakery
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2023)
8.5.4.3 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Shortening Fats Market by Region
8.6.1 North America
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2023)
8.6.1.3 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2023)
8.6.2.3 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2023)
8.6.3.3 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2023)
8.6.4.3 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Market Share
8.6.5.2 Historical Trend (2018-2023)
8.6.5.3 Forecast Trend (2024-2032)
9 North America Shortening Fats Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2023)
9.1.3 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2023)
9.2.3 Forecast Trend (2024-2032)
10 Europe Shortening Fats Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2023)
10.1.3 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2023)
10.2.3 Forecast Trend (2024-2032)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2023)
10.3.3 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2023)
10.4.3 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Shortening Fats Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2023)
11.1.3 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2023)
11.2.3 Forecast Trend (2024-2032)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2023)
11.3.3 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2023)
11.4.3 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2023)
11.5.3 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Shortening Fats Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2023)
12.1.3 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2023)
12.2.3 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2023)
12.3.3 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Shortening Fats Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2023)
13.1.3 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2023)
13.2.3 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2023)
13.3.3 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2023)
13.4.3 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Cargill, Incorporated
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Bunge Limited
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Pristine Baking Solutions
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Soren Srl
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 AAK AB
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Shortening Fats Market: Key Industry Highlights, 2018 and 2032
2. Global Shortening Fats Historical Market: Breakup by Product Type (USD Million), 2018-2023
3. Global Shortening Fats Market Forecast: Breakup by Product Type (USD Million), 2024-2032
4. Global Shortening Fats Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Shortening Fats Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Shortening Fats Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Shortening Fats Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Shortening Fats Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Shortening Fats Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Shortening Fats Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Shortening Fats Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Shortening Fats Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Shortening Fats Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Shortening Fats Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Shortening Fats Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Shortening Fats Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Shortening Fats Market Forecast: Breakup by Country (USD Million), 2024-2032
18. Global Shortening Fats Market Structure
Key Questions Answered in the Report
The market for shortening fats is projected to grow at a CAGR of 4.30% between 2024 and 2032.
The major drivers of the market include the growing innovations in shortening fats, rise in disposable income, altering lifestyles, preferences for eliminating the use of trans fats in the food industry, and growing intake of confectionary products.
The increased spending on the baked foods and confectioneries and surging inclination of customers towards healthy eating are the key industry trends propelling the growth of the market.
The major regions in the shortening fats market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Based on product type, the market is segmented into vegetable based and animal based. Vegetable based are further segmented into palm and palm kernel, sunflower seed, and soybeans, among others, whereas animal based is sub-divided into butter, tallow, and lard, among others.
On the basis of application, the market is divided into confectionery, ice cream, snacks, and bakery, among others.
The major players in the industry are Cargill, Incorporated, Bunge Limited, Pristine Baking Solutions, Soren Srl, and AAK AB, among others.
Shortening is a cooking ingredient that helps produce crumbly, flaky, and tender baked goods. Since shortening is 100% fat, in comparison to butter and lard's about 80% fat content, it produces extremely delicate cakes, cookies, and pie crusts.
Vegetable shortening or margarine is frequently used in the production of bakery goods such muffins, cakes, pastries, and pies.
Vegetable oils like soybean, cottonseed, or palm oil are used to make the majority of shortening that is now on the market.
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