Shortenings Market is forecast to reach $4.33 billion by 2027 - IndustryARC

Market Research Reports, Business Consulting Services & Analytics

The governing application, Bakery, has been growing at a rapid pace thereby supplementing the growth of the Shortening Market.

HYDERABAD, TELANGANA, INDIA, February 2, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the Shortenings Market size is estimated to reach $4.33 billion by 2027 and is poised to grow at a CAGR of 4.17% over the forecast period of 2022-2027. Shortenings are the ingredient that helps in adding texture-flakiness and even crispiness to the various bakery and confectionaries items. Some of the common shortening products are vegetable oils or hydrogenated vegetable oils such as palm or coconut oils. Further, consumers often add non-vegan shortening ingredients such as margarine and lard. Margarine has had an interesting processing method that allows it to be made from either animal-based sources or vegan sources.

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Key takeaways:

This IndustryARC report on the Shortenings Market highlights the following areas -

1. Geographically, Europe’s shortening market held a dominant market share in the year 2021. It is owing to the presence of a robust bakers’ and confectioners’ association and group of manufacturers. Additionally, the other raw material pertaining to bakeries and confectionaries have been long dominated by the said region. However, Asia-Pacific is expected to offer lucrative growth opportunities to the marketers in the projected period owing to the uprising of soar and robust manufacturing capacities. The flag bearer for such movement would be China-India and Japan.

2. Increasing consumption of bakery confectionery items is one of the crucial drivers for the Shortenings Market. However, awareness pertaining to the heightened consumption of excessive fats has hampered the overall market growth.

3. A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Shortenings Market Report.

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Segmental Analysis:

Shortenings Market Segmentation Analysis- By Source : The Shortening market based on the source can be further segmented into animal and vegan. Vegan held a dominant market share in the year 2021. Various vegetable oils are included within the vegan segment, and the rise of veganism as a trend has rightly helped the market gain an edge.

Shortenings Market Segmentation Analysis- By Application : The Shortening market based on the application can be further segmented into bakery and confectionaries, snacks and savory, and others. Bakery and Confectionaries held a dominant market share in the year 2021. It is owing to the inclusion of various types of bakery items that needs shortening products.

Shortenings Market Segmentation Analysis- By Geography : The Shortening market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World.

Competitive Landscape:

The top 5 players in the Shortenings Industry are -

1. Archer Daniels Midland Company
2. AAK AB
3. Bunge Limited
4. Manildra Group
5. Ventura Foods, LLC

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Mr. Venkat Reddy
IndustryARC
Email: venkat@industryarc.com, sales@industryarc.com
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Venkat Reddy
IndustryARC
+1 614-588-8538
venkat@industryarc.com
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