Shortening Fats Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 4.20 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Shortening Fats Market Analysis
The global fat shortening market is projected to grow at a CAGR of 4.2% during the forecast period (2022 - 2027).
The Shortening Fat market is quickly reaching its pre-COVID levels. A healthy growth rate is expected over the forecast period, driven by the economic revival in most developing nations. However, unprecedented situations due to different waves are creating a gloomy outlook. Furthermore, the production and distribution of these products were impacted due to the lockdown imposed by governments in various countries and the temporary shutdown of different manufacturing units.
The market is primarily driven by its extensive applications in the food industry for making bakery, confectionery, dairy, and other products, along with its industrial use. Companies operating in the shortening fats market should capitalize on "premiumization" and artisanal & indulgent" baked commodities, as these products require many fats to produce desirable sensory properties.
The health concerns amidst rising obesity and other lifestyle epidemics for unhealthy fats coupled with partial replacement efficiencies are some of the major hindrances to the global shortening fats market.
Shortening Fats Market Trends
This section covers the major market trends shaping the Shortening Fats Market according to our research experts:
Growing Food Processing Industry Drives the Shortening Fats Market
The growing processed food industry drives the market for shortening fats. Processed food products, like pasta and noodles, are consumed in several countries as a staple food. Hectic lifestyles and the need for leisure have propelled the demand for convenient food products. Dried, ready meals, dried noodles, pasta, and other processed food products require less preparation time. Shortening fats are extensively used in bakery products due to their functional benefits, such as improving elasticity, higher smoke points, and higher shelf life. Bakery manufacturers prefer to use fat shortenings in most of their products, not only because of functional benefits but also because it is processed very low compared to other alternatives.
North America holds the Major Share of the Market
North America holds a significant market share owing to the well-established bakery industry in the region. Consumers are now tending toward "healthy eating," especially freshly baked commodities such as bread, cake, pies, etc. The bakery market in these developed regions is still fragmented, consisting of vast numbers of independent and private label bakers. This represents a massive potential for shortening fat manufacturers, provided that the consumer's demand for organic, clean-label, and highly convenient products is adequately addressed. The manufacturers should work on reformulating the trans fatty acid content of shortenings. Large bakery giants such as Grupo Bimbo, S.A.B. have already started incorporating low to zero trans-fatty acid-based shortenings in their products.
Shortening Fats Industry Overview
The companies are expected to expand their business by enhancing their product portfolio in the global shortening fat market. Some primary critical global fat shortening markets are Bunge North America, Inc., Yildiz Holding (Eksper Food), Namchow Chemical Industrial Co., Ltd, FUJI OIL CO., LTD., and Cargill, among others. These behemoths have implemented vital business strategies such as product innovation, strategic partnerships & collaborations, new product launches, new service launches, joint ventures, and contracts to reinforce their market position and gain a huge chunk of the market share.
Shortening Fats Market Leaders
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Namchow Chemical Industrial Co., Ltd.
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Cargill, Inc.
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NMGK Group
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FUJI OIL CO., LTD.
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Yidiz Holding (Eksper Food)
*Disclaimer: Major Players sorted in no particular order
Shortening Fats Market News
In 2021, Cargill invested USD 15 million in a high-pressure hydrogenation plant in Kurkumbh, Maharashtra, to manufacture superior bypass fat, a health and nutrition supplement for dairy cattle.
In 2020, Archer Daniels Midland Company and Wilmar International Limited upgraded their partnership into a full-function joint venture- Olenex. As a part of the agreement, ADM announced to transfer a specialty oils and fats facility and a palm refining plant in Hamburg, Germany, to the new joint venture.
In 2020, Bunge Limited, an American Company, launched sustainable shea-based margarine. The product features non-hydrogenated, clean-label claims with no added coloring or preservatives and delivers high functionality, baking performance, and better total nutritional value.
Shortening Fats Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Source Type
5.1.1 Palm and Palmkernel
5.1.2 Sunflower Seed
5.1.3 Soybeans
5.1.4 Animal Based
5.1.4.1 Butter
5.1.4.2 Tallow
5.1.4.3 Lard
5.1.5 Others
5.2 By Application
5.2.1 Confectionery
5.2.2 Ice Cream
5.2.3 Snacks
5.2.4 Bakery
5.2.5 Others
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 United Kingdom
5.3.2.2 Germany
5.3.2.3 France
5.3.2.4 Russia
5.3.2.5 Italy
5.3.2.6 Spain
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 India
5.3.3.2 China
5.3.3.3 Japan
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle-East and Africa
5.3.5.1 South Africa
5.3.5.2 Saudi Arabia
5.3.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Bunge North America, Inc.
6.4.2 NMGK Group
6.4.3 FUJI OIL CO., LTD.
6.4.4 Pristine Baking Solutions.
6.4.5 Yidiz Holding (Eksper Food)
6.4.6 Cargill
6.4.7 Sime Darby
6.4.8 Namchow Chemical Industrial Co., Ltd
6.4.9 Wilmar-International
6.4.10 Sunnyfoods
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Shortening Fats Industry Segmentation
Shortening generally refers to hydrogenated oils having semi-solid consistency and shelf stability. Shortening fats provide a lubricating effect in food matrices and influence the sensory properties, especially the texture and flavor attributes. The global shortening fat market is segmented by source type, application, and geography. Based on source type, the market is segmented into palm and palm kernel, sunflower seed, soybeans, animal-based, and others. The animal-based segment is further sub-segmented into butter, fat, and Lard. Based on the application, the market is segmented into confectionery, ice cream, snacks, bakery, and others. Based on geography, the study analyzes the shortening fat market in the emerging and established markets across the globe, including North America, Europe, Asia-Pacific, South America, and Middle East & Africa. The report offers market size and forecasts for shortening the fat market in value (USD million) for all the above segments.
| By Source Type | |||||
| Palm and Palmkernel | |||||
| Sunflower Seed | |||||
| Soybeans | |||||
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| Others |
| By Application | |
| Confectionery | |
| Ice Cream | |
| Snacks | |
| Bakery | |
| Others |
| Geography | |||||||||
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Shortening Fats Market Research FAQs
What is the current Shortening Fat Market size?
The Shortening Fat Market is projected to register a CAGR of 4.20% during the forecast period (2024-2029)
Who are the key players in Shortening Fat Market?
Namchow Chemical Industrial Co., Ltd., Cargill, Inc., NMGK Group, FUJI OIL CO., LTD. and Yidiz Holding (Eksper Food) are the major companies operating in the Shortening Fat Market.
Which is the fastest growing region in Shortening Fat Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Shortening Fat Market?
In 2024, the North America accounts for the largest market share in Shortening Fat Market.
What years does this Shortening Fat Market cover?
The report covers the Shortening Fat Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Shortening Fat Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Shortening Fat Industry Report
Statistics for the 2024 Shortening Fat market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Shortening Fat analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
