According to the report by Expert Market Research (EMR), the global shortening fats market size is projected to grow at a CAGR of 4.30% between 2024 and 2032. The market is driven by the expansion of the bakery and confectionery sector, which is the primary consumer of shortening fats, the surge in demand for convenient foods, and globalisation of food trends.
Shortening fats, primarily used in baking and cooking to enhance texture and flavour, are witnessing increased demand due to their versatility and functional properties. They are derived from vegetable oils or animal fats and are integral in producing a wide range of food products, including pastries, bread, cakes, and fried foods. Their ability to enhance the texture, mouthfeel, and shelf life of food products makes them a preferred choice in the food sector. Moreover, the growing trend of clean-label and non-GMO products has led to a surge in demand for shortening fats derived from natural and sustainable sources.
The shortening fats market growth is primarily driven by the expanding bakery and confectionery sector, where shortening fats are extensively used to achieve the desired texture and consistency in products. The increasing consumption of baked goods and convenience foods, coupled with the rising disposable income and urbanisation, further fuels the market expansion.
Additionally, the shift towards plant-based and vegan diets has prompted manufacturers to develop innovative shortening fats that cater to these dietary preferences. The demand for trans-fat-free and low-saturated-fat shortening options is also on the rise, driven by growing health consciousness among consumers and stringent regulations regarding trans fats in food products, consequently driving up the shortening fats market share.
Moreover, technological advancements in the food processing sector have led to the development of specialised shortening fats with enhanced functional properties, such as improved heat stability and extended shelf life. Manufacturers are focusing on product innovation to meet the evolving needs of the food sector, including the formulation of non-hydrogenated and organic shortening options, thereby leading to the shortening fats market development.
The market share of shortening fats in bakery applications is projected to increase significantly. This growth is driven by the rising demand for bakery products due to changing lifestyles, increasing populations, and economic progress. Fully hydrogenated soybean oil, derived from soybeans without trans fats, is commonly used as a hard fat in the production of bakery shortenings.
Asia Pacific is anticipated to hold a significant share of the global shortening fats market, owing to the rapid growth of the food sector in countries like China, India, and Japan. The increasing adoption of western-style diets and the rising demand for convenience foods are major factors contributing to the market’s growth in this region.
Market Segmentation
The market can be divided based on the product type, application, and region.
Market Breakup by Product Type
- Vegetable Based
- Palm and Palm Kernel
- Sunflower Seed
- Soybeans
- Others
- Animal Based
- Butter
- Tallow
- Lard
- Others
Market Breakup by Application
- Confectionery
- Ice Cream
- Snacks
- Bakery
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global shortening fats market. Some of the major players explored in the report by Expert Market Research are as follows:
- Cargill, Incorporated
- Bunge Limited
- Pristine Baking Solutions
- Soren Srl
- AAK AB
- Others
FAQ: Insights into the Global Shortening Fats Market (2024-2032)
1. What are shortening fats, and what is their primary use?
- Shortening fats are fats derived from animal sources or vegetable oils used primarily in baking and cooking. They enhance texture, flavor, and shelf life of various food products such as pastries, bread, cakes, and fried foods.
2. What factors are driving the growth of the shortening fats market?
- The growth is driven by the expansion of the bakery and confectionery sectors, increasing demand for convenience foods, rising global influence on food trends, and consumer preferences shifting towards clean-label and non-GMO products.
3. How are changing dietary trends impacting the shortening fats market?
- The shift towards plant-based and vegan diets has spurred the development of vegetable-based shortening fats that cater to these preferences. Additionally, health-conscious consumers are seeking trans-fat-free and low-saturated-fat options, influencing market offerings.
4. What role do technological advancements play in the shortening fats industry?
- Technological advancements have led to the development of shortening fats with enhanced functional properties such as improved heat stability and extended shelf life. These innovations are crucial in meeting the evolving needs of the food processing industry.
5. Why is the bakery sector a significant consumer of shortening fats?
- In the bakery sector, shortening fats are essential for achieving desired textures and consistencies in products like cakes and pastries. They are integral in providing the mouthfeel and shelf life demanded by consumers, making them indispensable in bakery applications.
6. What is the market outlook for shortening fats in the Asia Pacific region?
- Asia Pacific is expected to hold a significant market share due to rapid growth in the food sector, influenced by the adoption of Western-style diets and increasing demand for convenience foods in countries like China, India, and Japan.
7. What are the environmental concerns associated with shortening fats production?
- Environmental concerns include the sustainability of sourcing ingredients, particularly palm oil, which is linked to deforestation and habitat destruction. There is growing pressure on manufacturers to source ingredients responsibly and to offer products that are environmentally friendly.
8. Who are the major players in the global shortening fats market, and what strategies are they adopting?
- Key players include Cargill, Incorporated, Bunge Limited, and AAK AB, among others. These companies focus on product innovation, sustainable practices, and expanding their global footprint through strategic mergers, acquisitions, and partnerships to stay competitive in the market.
