Shortening Market

Global Shortening Market Size, Share & Trends Analysis Report By Source, By Application (Bakery Products, Confectionery Products, Snacks & Savory Products, and Others), By Sales Channel (Indirect Sales, and Direct Sales). By Regional Outlook and Forecast, 2023 - 2030

Report Id: KBV-21701 Publication Date: April-2024 Number of Pages: 315
2022
USD 4.3 Billion
2030
USD 5.8 Billion
CAGR
3.9%
Historical Data
2019 to 2021

“Global Shortening Market to reach a market value of USD 5.8 Billion by 2030 growing at a CAGR of 3.9%”

Analysis of Market Size & Trends

The Global Shortening Market size is expected to reach $5.8 billion by 2030, rising at a market growth of 3.9% CAGR during the forecast period. In the year 2022, the market attained a volume of 2,88,273.38 Tonnes, experiencing a growth of 4.0% (2019-2022).

Shortening's high smoke point and stability at elevated temperatures make it a preferred choice for frying and deep-frying applications in the foodservice industry. This is particularly relevant in establishments offering fried snacks, appetizers, and main courses, where the texture and flavor imparted by shortening contribute to the overall dining experience. Consequently, the snacks & savory products segment would generate approximately 18.48 % share of the market by 2030. Also, France would utilize 8,481.41 Tonnes of shortening in bakery products by 2030. Chefs can experiment with diverse recipes, creating unique and signature dishes that set their establishments apart in a competitive market.

Shortening Market Size - Global Opportunities and Trends Analysis Report 2019-2030

The general awareness surrounding the impact of diet on overall health has seen a significant uptick. The possible health hazards connected to specific fats, especially trans fats, are better known to consumers. Healthy substitutes are becoming more popular in the baking and cooking industries because of this increased awareness. Thus, because of the growing trend towards healthier alternatives, the market is anticipated to increase significantly.

Additionally, the expansion of retail in physical stores and online platforms provides shortening manufacturers with increased access to diverse consumer bases. With products on supermarket shelves and e-commerce platforms, shortening becomes more accessible to a wider audience, reaching consumers in urban, suburban, and rural areas. Hence, expansion of retail and e-commerce platforms has been a pivotal factor in driving the growth of the market.

However, fluctuating raw material prices can result in increased production costs for shortening manufacturers. Manufacturers may find it difficult to keep their shortening product costs competitive when fat and oil prices rise. This can, therefore, result in lower profit margins or the need to pass along higher expenses to customers, which may affect sales. Fluctuating raw material prices shortens manufacturers' volatility in the supply chains. Thus, fluctuating raw material prices can slow down the growth of the market.

Driving and Restraining Factors
Shortening Market
  • Growth Of the Foodservice Industry
  • Growing Trend Towards Healthier Alternatives
  • Expansion Of Retail and E-Commerce Platforms
  • Fluctuating Raw Material Prices
  • Sustainability And Environmental Impact
  • Growing Consumer Education and Marketing
  • Higher Level of Disposable Income
  • Adverse Impact of Regulatory Compliance
  • Significant Allergen Sensitivity Issues

By Source Analysis

By source, the market is bifurcated into vegetables and animal. In 2022, the vegetable segment held 79.36% revenue share in the market. Vegetable shortening is often chosen by consumers seeking alternatives to traditional shortening made from animal fats. It is perceived as a healthier option, particularly when reducing saturated fats and avoiding trans fats, which can contribute to heart health concerns. Vegetable shortening is widely used in baking applications, including preparing cookies, cakes, pies, and pastries.

By Application Analysis

Based on application, the market is classified into bakery products, confectionery products, snacks & savory products, and others. The confectionery products segment acquired a 26% revenue share in the market in 2022. Shortening is used to create creamy fillings for chocolates and truffles, enhancing the consistency and mouthfeel of these confectionery items. It contributes to the smoothness of the filling, making it more palatable. Shortening is used in the production of cake batters, contributing to the tenderness and fluffiness of cakes.

Shortening Market Share and Industry Analysis Report 2022

By Sales Channel Analysis

On the basis of sales channel, the market is divided into direct sales and indirect sales. In 2022, the indirect sales segment dominated the market with 68% revenue share. In terms of volume, indirect sales segment sell 1,88,351.49 tonnes of paraformaldehyde in 2022. Indirect sales channels offer convenience for consumers by providing a one-stop shopping experience. Shortening products are readily available alongside other baking and cooking essentials, making it easier for consumers to purchase them during routine shopping trips. Shortening products gain visibility through shelf space in supermarkets and retail stores.

Free Valuable Insights: Global Shortening Market size to reach USD 5.8 Billion by 2030

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region acquired a 28% revenue share in the market. The Asia Pacific region is characterized by rapidly growing population and ongoing urbanization. For example, according to the report titled Cities as Engines of Growth, published in 2022 by the Government of India, the population of urban areas in India is projected to have increased approximately fourfold, from 109 million in 1970 to 460 million in 2018.

Shortening Market Report Coverage
Report Attribute Details
Market size value in 2022 USD 4.3 Billion
Market size forecast in 2030 USD 5.8 Billion
Base Year 2022
Historical Period 2019 to 2021
Forecast Period 2023 to 2030
Revenue Growth Rate CAGR of 3.9% from 2023 to 2030
Number of Pages 315
Number of Table 670
Quantitative Data Volume in Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Source, Sales Channel, Application, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Australia, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included Cargill, Incorporated, Wilmar International Limited, Bunge Limited, Associated British Foods PLC (Wittington Investments Limited), The J.M Smucker Company, Premium Vegetable Oils Sdn Bhd, Ventura Foods, LLC, Namchow Holdings Co., Ltd., Fuji Oil Co., Ltd. (Fuji Oil Holdings Inc.), AAK AB
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List of Key Companies Profiled

  • Cargill, Incorporated
  • Wilmar International Limited
  • Bunge Limited
  • Associated British Foods PLC (Wittington Investments Limited)
  • The J.M Smucker Company
  • Premium Vegetable Oils Sdn Bhd
  • Ventura Foods, LLC
  • Namchow Holdings Co., Ltd.
  • Fuji Oil Co., Ltd. (Fuji Oil Holdings Inc.)
  • AAK AB

Shortening Market Report Segmentation

By Source (Volume, Tonnes, USD Billion, 2019-2030)

  • Vegetable
  • Animal

By Application (Volume, Tonnes, USD Billion, 2019-2030)

  • Bakery Products
  • Confectionery Products
  • Snacks & Savory Products
  • Others

By Sales Channel (Volume, Tonnes, USD Billion, 2019-2030)

  • Indirect Sales
  • Direct Sales

By Geography (Volume, Tonnes, USD Billion, 2019-2030)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

This Market size is expected to reach $5.8 billion by 2030.

Growth Of the Foodservice Industry are driving the Market in coming years, however, Fluctuating Raw Material Prices restrictions issues restraints the growth of the Market.

Cargill, Incorporated, Wilmar International Limited, Bunge Limited, Associated British Foods PLC (Wittington Investments Limited), The J.M Smucker Company, Premium Vegetable Oils Sdn Bhd, Ventura Foods, LLC, Namchow Holdings Co., Ltd., Fuji Oil Co., Ltd. (Fuji Oil Holdings Inc.), AAK AB

In the year 2022, the market attained a volume of 2,88,273.38 Tonnes, experiencing a growth of 4.0% (2019-2022).

The Bakery Products segment is leading the Market by Application in 2022, there by, achieving a market value of $2.3 Billion by 2030.

The Europe market region the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $1.9 Billion by 2030, growing at a CAGR of 3.2 % during the forecast period.

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