Global Shortening Fats Market Size, Share, Growth, Trends, and Forecast (2024 - 2031)
Global Shortening Fats Market Scope: Historical Data (2021 – 2022), Base Year (2023), Forecast Period (2024 – 2031)
Market Segmentation: By Source Type (Palm and Palmkernel, Sunflower Seed, Soybeans, Animal Based, (Butter, Tallow, and Lard), and Others), Application (Confectionery, Ice Cream, Snacks, Bakery, and Others), and Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa)
Market Overview
The Global Shortening Fats Market was valued at USD 4,080.9 million in 2023 and is expected to reach USD 5,671.5 million by 2031 while growing at a CAGR of 4.2% during the forecast period (2024-2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Market Dynamics
This section of the report will analyze various driving and restraining factors that are expected to have a significant impact on the global shortening fats market growth. Shortening, a solid fat at room temperature, is widely used in baking and cooking to impart specific texture and flavor to food. It is crucial for creating a tender and crumbly texture in various baked goods such as pie crusts, cookies, cakes, and pastries, making it a versatile ingredient.
Increasing demand in the Bakery and Confectionery Industry, coupled with the rise in Convenience and Processed Foods, drives the growth of the shortening fats market. However, obstacles like Health Concerns, Dietary Trends, and Regulatory Restrictions on Trans Fats may impede market expansion.
Furthermore, the global shortening fats industry will be analyzed through various tools including PESTLE analysis, and Porter’s analysis.
Segmentation – By Source Type Analysis
The Global Shortening Fats Market is segmented among Palm and Palmkernel, Sunflower Seed, Soybeans, Animal Based, and Others, based on Source Type. In 2023, Soybeans accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Segmentation – By Application Analysis
The Global Shortening Fats Market is segmented among Confectionery, Ice Cream, Snacks, Bakery, and Others, based on Application. In 2023, Bakery accounted for the majority of the market share*.
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Global Shortening Fats Market: Regional Analysis
Based on region, the market is divided into six regions including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. In 2023, North America dominated the market with the highest market share, while Asia Pacific is expected to grow with the highest CAGR during the forecast period (2024 – 2031).
*Note: Graph is shown for illustrative purposes only; complete datasets will be provided in the full report
Competitive Landscape
Some of the key players operating in the market are Bunge North America, Inc., NMGK Group, FUJI OIL CO., LTD., Pristine Baking Solutions., Yidiz Holding (Eksper Food), Cargill, Sime Darby, Namchow Chemical Industrial Co., Ltd, Wilmar-International, and Sunnyfoods.
Table of Contents:
1. Research Methodology and Market Scope
Research Methodology
Market Scope
2. Executive Summary
3. Global Shortening Fats Market Dynamics
Drivers
Restraints
Opportunity
4. Global Shortening Fats Industry Analysis
PEST Analysis
Porter's Five Force Analysis
Recent Deals Analysis
5. Global Shortening Fats Market Segmentation, By Source Type
Global Shortening Fats Market Share Analysis, By Source Type
Global Shortening Fats Market Growth Analysis, By Source Type
Global Shortening Fats Market Trends, By Source Type
o Palm and Palmkernel
o Sunflower Seed
o Soybeans
o Animal Based
Ø Butter
Ø Tallow
Ø Lard
o Others
6. Global Shortening Fats Market Segmentation, By Application
Global Shortening Fats Market Share Analysis, By Application
Global Shortening Fats Market Growth Analysis, By Application
Global Shortening Fats Market Trends, By Application
o Confectionery
o Ice Cream
o Snacks
o Bakery
o Others
7. Global Shortening Fats Market Segmentation, By Region
Global Shortening Fats Market Share Analysis, By Region
Global Shortening Fats Market Growth Analysis, By Region
Global Shortening Fats Market Trends, By Region
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East
o Africa
8. Competitive Landscape
Bunge North America, Inc.*
o Company Overview
o Financial Performance
o Key Development/Strategies
o SWOT Analysis
NMGK Group
FUJI OIL CO., LTD.
Pristine Baking Solutions.
Yidiz Holding (Eksper Food)
Cargill
Sime Darby
Namchow Chemical Industrial Co., Ltd
Wilmar-International
Sunnyfoods
*Similar analysis will be provided for each company listed above.
