DUBLIN--(BUSINESS WIRE)--The "Shortening Market by Source, Application, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global shortening market was valued at $4,250.0 million in 2020, and is estimated to reach $6,373.6 Million by 2030, registering a CAGR of 4.2% from 2021 to 2030.
Europe is one of the prominent regions, which accounted for a sizeable share of the total market in 2020. A shortening is characterized as a fat, solid at room temperature, which can be used to provide foods a brittle and fresh texture such as pastry. Shortening is most commonly made from vegetable oils like soybean, cottonseed, or refined palm oil, which are normally fluid at room temperature.
Animal source of fats are both lipids derived from animal; oils are liquid at room temperature, while fats are solid. Although certain fats such as goose fats, have a higher smoke point than other animal fats, they have lower smoke point as compared to vegetables oils, such as olive oil and avocado. Animal fats are commonly consumed in semisolid forms such as milk, butter, lard and dripping or as a filler in factory-produced meat, pet food and fast food products.
Shortening fats have gained popularity as feed products due to the health benefits they provide to poultry and cattle. Fats are high-energy supplements that help to maintain nutritional balance while lowering feed costs. As a result, these are added as feed products to reduce bloat and energy density in the feed.
Owing to the outbreak of the COVID-19 pandemic, increase has been witnessed in the consumption of healthy edible oils and nutritional products to strengthen the immune system. Furthermore, the production and distribution of these products were impacted as a result of lockdown imposed by governments in various countries and temporary shutdown of various manufacturing units; however, the market is expected to recover in the coming years.
However, rise in health concerns such as heart disease and obesity as a result of excessive consumption of fats and oils, implementation of stringent government regulations for food safety, and rise in environmental concerns impede the growth of the shortening market. On the contrary, surge in demand for alternative biodiesel fuel in the transportation sector and exponential increase in global population are expected to offer remunerative opportunities for the expansion of the global market.
The report segments the shortening market on the basis of source, application, sales channel, and region. By source, the market is divided into vegetables and animal. On the basis of application, it is fragmented into bakery products, confectionery products, snacks & savory products, and others. Based on sales channel, the market is segmented into direct sales and indirect sales. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
- The study provides an in-depth analysis of the global shortening market, with current and future trends to explain the imminent investment pockets in the market.
- Current and future trends are outlined in the report to determine the overall market attractiveness and single out profitable trends to gain a stronger foothold in the market.
- The report provides information regarding drivers, restraints, and opportunities with impact analysis.
- A quantitative analysis of the current market and estimation for the same from 2020 to 2030 is provided to showcase the financial competency of the market.
- Porter's Five Forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain.
- Competitive intelligence highlights the business practices followed by the leading market players across various regions.
- Growth of the processed food industry
- Rise in disposable and change in lifestyle in consumers
- Increasing customer concerns over the harmful components in shortening fats
- Expansion of the functional food & beverages market
- Introduction of the hydrogenation reformulation process
- Growing E-commerce
- Cargill Incorporated
- Premium Vegetable Oils Sdn Bhd
- Bunge North America Inc
- Namchow Chemical Industrial Co. LTD
- Wilmar International Ltd
- Fuji Oil Co. LTD
- Associated British Foods plc
- Ventura Foods
- J.M. Smucker Company
For more information about this report visit https://www.researchandmarkets.com/r/r98fan