Shortening Market by Source (Vegetables, and Animal), Application (Bakery Products, Confectionery Products, Snacks and Savory Products, and Others), and Sales Channel (Direct sales, and Indirect Sales): Global Opportunity Analysis and Industry Forecast, 2021–2030. The global shortening market size was valued at $4,250.0 million in 2020, and is estimated to reach $6,373.6 Million by 2030, registering a CAGR of 4.2% from 2021 to 2030.
A shortening is characterized as a fat, solid at room temperature, which can be used to provide foods a brittle and fresh texture such as pastry. Examples of fat used as shortening include butter, soybean, margarine, vegetable oils, and fat. Shortening is most commonly made from vegetable oils like soybean, cottonseed, or refined palm oil, which are normally fluid at room temperature. The shortening fat is used in the wider application of the food industry such as ice-creams, dried noodles, and other functional food items for better taste and longer shelf-life in the market.
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The global shortening market has witnessed significant growth over the years, and is expected to grow at a steady pace during the forecast period. This is attributed to increase in demand for animal and marine fats and oils from the foodservice sector and rise in use of lard in the baking industry as bread spreads. In addition, the animal source has expanded rapidly as a result of increased demand from downstream industries such as biodiesel, food, oleo chemical, and pet food. Consumers in developing regions, such as Asia-Pacific, prefer lard over butter in baked goods, thus driving the shortening market trends.
The outbreak of the COVID-19 pandemic in 2020 has hampered the global shortening market growth. Retail stores, malls, supermarkets, and other sales channels have been forced to close or remain closed as a result of stringent lockdown imposed by governments all over the world. During the lockdown, however, several brands have shifted their focus to e-commerce platforms to generate revenue and increase sales. Offline sales are increasing at the moment, as government lockdown restrictions in several countries are being gradually lifted.
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According to the shortening market analysis, the market is segmented into source, application, sales channel, and region. Depending on source, the market is divided into vegetables and animal. Based on applications, bakery products, confectionery products, snacks & savory products, and others. By sales channel, it is fragmented into direct and indirect sales. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players in the market are Cargill Incorporated, Premium Vegetable Oils Sdn Bhd, Bunge North America, Inc, Fediol, Namchow Chemical Industrial Co., Ltd, Wilmar International Ltd, Fuji Oil Co., Ltd, Associated British Foods plc, Ventura Foods, and J.M. Smucker Company .
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Table Of Content:
CHAPTER 1:INTRODUCTION
1.1.Key benefits for stakeholders
1.2.Key market segments
1.3.Research methodology
1.3.1.Secondary research
1.3.2.Primary research
1.3.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.Key findings of the study
2.2.CXO perspective
CHAPTER 3:MARKET OVERVIEW
3.1.Market definition and scope
3.2.Key findings
3.2.1.Top investment pockets
3.3.Value chain analysis
3.4.Porter’s five forces analysis
3.5.Market dynamics
3.5.1.Drivers
3.5.1.1.Growth of the processed food industry
3.5.1.2.Rise in disposable and change in lifestyle in consumers
3.5.2.Restraints
3.5.2.1.Increasing customer concerns over the harmful components in shortening fats
3.5.2.2.Expansion of the functional food & beverages market
3.5.3.Opportunities
3.5.3.1.Introduction of the hydrogenation reformulation process
3.5.3.2.Growing E-commerce
3.6.Market share analysis
3.6.1.By Source
3.6.2.By application
3.6.3.By sales channel
3.6.4.By region……continue
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