Global Vegetable Shortening Market, By Product (All Purpose Shortening, Emulsified Shortening, High Stability Shortening), Applications (Baking, Frying, Confectionary and Pastry, Other), Country (U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, U.A.E, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights Global Vegetable Shortening Market
Data Bridge Market Research analyses that the global vegetable shortening market to be growing at a CAGR of 5.3% in the forecast period of 2022-2029 and is likely to reach the USD 2.10 billion by 2029.
Vegetable shortenings are solid fats generated from hydrogenating vegetable oils like soybean or cotton seed oil. For baking and frying, these shortenings provide a healthier alternative to butter and lard. Vegetable shortenings have similar features to butter and lard in terms of solid texture at room temperature, but they are flavorless and odorless. A shortening is a fat that is solid at room temperature and can be used to give foods such as pastry a crisp and fresh texture. Butter, soybean, margarine, vegetable oils, and fat are all instances of fats used as shortening. The most popular vegetable oils used to make shortening are soybean, cottonseed, and refined palm oil, all of which are liquid at room temperature.
The rise in demand for bakery products among consumers will drive the vegetable shortening market. Furthermore, changing food habits of consumers and upsurge in the demand for healthy bakery ingredients are some macroeconomic factors that are positively impacting the worldwide vegetable shortening market. Another significant factor is increasing awareness about the health benefits associated with vegetable shortening will accelerate the growth rate of vegetable shortening market. The continuous change in the lifestyle of people will further expand the growth of vegetable shortening market. Other factors including strong demand from various end-use industries and growth of e-commerce platforms will increase the sales and further cushion the market’s growth rate.
Moreover, the surging demand for low calorie products among consumers will boost the beneficial opportunities for the growth of vegetable shortening market. Additionally, the rising trend of vegan food products and growing product portfolio of bakery products will act as major drivers and further create new opportunities for market’s growth in the above mentioned forecast period. The rise in product development and innovations activities will attract the consumers to opt for functional foods and beverages and hence further increase the demand for vegetable shortening market.
However, high cost associated with the product and the rising demand for clean label products from consumers will hamper the vegetable shortening market growth rate. Additionally, the presence of alternatives such as butter and lard will obstruct the vegetable shortening market's overall growth. Also, vegetable shortenings are high in trans-fat which will further pose a major challenge for the growth rate of market throughout the forecast period. The severe impact of COVID-19 on supply chain and fluctuating prices of raw materials will act as major market restrain that will further impede the growth rate of vegetable shortening market.
This vegetable shortening market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on vegetable shortening market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Vegetable Shortening Market Scope and Market Size
The vegetable shortening market is segmented on the basis of product and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product, vegetable shortening market is divided into all-purpose shortening, emulsified shortening, and high stability shortening.
- Based on application, vegetable shortening market is segmented into baking, frying, confectionary and pastry, and other.
Vegetable Shortening Market Country Level Analysis
The vegetable shortening market is analyses and market size, volume information is provided by country, product and application as referenced above.
The countries covered in the vegetable shortening market report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
North America dominates the food inclusions market and will continue to flourish its trend of dominance during the forecast period owing to the marketing investigation instruments and presence of major key players in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the rising number of population and presence of prominent players operating in emerging economies such as India and China.
The country section of the vegetable shortening market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Vegetable Shortening Market Share Analysis
The vegetable shortening market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to vegetable shortening market.
Some of the major players operating in the vegetable shortening market are The J.M. Smucker Company, ADM, Cargill, Incorporated, Bunge North America, Inc., Wilmar International Ltd, IFFCO, Manildra Group, Associated British Foods plc, Ruchi Soya, Al-Khaleej Industries Sdn Bhd., MOI Foods U.S.A. Inc., Olenex Sàrl, Walter Rau AG, Yildiz Holding Inc., VFI GmbH, AAK AB, PURATOS, Ventura Foods, Royal Zeelandia Group BV, Princes Limited, and B&G Foods, Inc., among others.
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