The shortening market has witnessed significant trends and shifts in recent years, reflecting the dynamic nature of consumer preferences and industry innovations. One notable trend in the shortening market is the growing demand for healthier alternatives. With an increasing awareness of health and wellness, consumers are seeking shortening products that are free from trans fats and low in saturated fats. This has prompted manufacturers to reformulate their products, replacing traditional hydrogenated oils with healthier options such as palm oil, soybean oil, or canola oil.
Another key trend in the shortening market is the rise of plant-based and organic shortening products. As the demand for plant-based diets continues to soar, consumers are gravitating towards shortening options that align with their dietary choices. Manufacturers are responding by introducing shortening products made from plant-based sources like coconut oil, avocado oil, or sunflower oil. Additionally, the emphasis on organic and non-GMO ingredients has led to the development of organic shortening options, catering to the preferences of health-conscious consumers.
The global trend of clean label products has also made a significant impact on the shortening market. Consumers are increasingly scrutinizing product labels, demanding transparency and recognizable ingredients. In response, manufacturers are formulating shortening products with minimal additives and preservatives. This shift towards clean label shortening aligns with the broader movement towards natural and minimally processed foods.
Furthermore, the shortening market is experiencing innovations driven by technological advancements. Manufacturers are adopting advanced production processes to enhance the functionality and versatility of shortening products. This includes the development of emulsified shortenings that provide improved stability and consistency in various applications, such as baking and frying. The use of novel ingredients and processing techniques is contributing to the creation of shortening products with enhanced performance attributes, catering to the evolving needs of the food industry.
The e-commerce boom has also influenced the shortening market, offering consumers greater accessibility to a diverse range of products. Online platforms provide a convenient avenue for consumers to explore and purchase different shortening options, including specialty and niche products that may not be readily available in traditional brick-and-mortar stores. This shift in distribution channels has implications for both established brands and emerging players, requiring them to adapt their marketing strategies to effectively reach and engage online consumers.
The global shortening market is expected to grow USD 6.41billion at a 4.52% CAGR During Forecast 2020-2030. Shortenings, as a part of the market, find a wide range of applications in the confectionery, bakery, and snacks & savory sectors. The rise in the prominent market factors such as an increase in demand for shortenings in various food applications, and a prominent rise in demand for bakery and confectionery products has fueled the growth in the market. Affordability, convenience, and health benefits are emerging as the main factors that drive global market growth. The development of other market products such as loaves of bread, cereal, cakes, biscuits, and pastries is well-established in the European countries that will have a positive impact on the global market expansion in 2030. Whereas, the demand for bakery and confectionery products is increasing in the Asian Pacific region with the growing per capita consumption of loaves of bread and baked goods during the ongoing period that will be ending in 2030.
COVID 19 Analysis
The sudden outbreak followed by the fatal spread of the COVID-19 pandemic in 2020 has hampered the global shortening market growth that was projected for the ongoing forecast period. Retail stores, malls, supermarkets, and other inclusions of the sales channels have been forced to close or remain closed owing to the disrupted demand and this has been a result of stringent lockdown imposed by governments all over the world. During the lockdown that has been imposed by the local and global governments, however, several brands have shifted their focus to e-commerce platforms to generate revenue and increase sales. Offline sales are increasing at the moment and the main reason behind this is that the government lockdown restrictions in several countries are being gradually lifted.
The rise in investments followed by the collaborative efforts of the Shortening Market players and global governments followed by their functioning in various research and development departments is likely to help the global market to opt for collaborative measures in the long run and as a part of the ongoing forecast period ending in 2030.
Market Dynamics
Drivers
The market trends support an increasing processed food sector demand that is driving the shortening market demand. In some nations that are a part of the global shortening market, processed food items, such as pasta and noodles, are consumed as staple foods. The period of preparation is comparably less for dry-ready meals, and other consumables like dried noodles, pasta, and many other processed food products. The shortening fats in bread products are often being utilized for their many functional advantages like better elasticity, higher smoke points, and promising a higher shelf-life.
Functional meals and beverages being demanded by the consumers with functional nutrients complement many health advantages as well as the essential nutritional content of the product. Amino acids, vitamins, minerals, followed by others like protein, fatty acids, and prebiotics are included in these nutrients. Due to a higher degree of growing awareness of the area of consumer health, functional products are becoming more and more important in recent years. There has been an increasing product development followed by a huge rise in innovation activities that are attracting consumers to opt for functional foods and beverages, especially during the ongoing forecast period that will be ending in 2030.
Restraints
There has been a huge degree of consumption of trans-fatty acids that are strongly associated with an increased risk of cardiovascular diseases and other serious ailments like cancer. As a result, additional regulations are being laid down by the government on the usage of liquid oils directly in sweet goods and icings. Thus, the rising awareness regarding the negative health effects of trans-fatty acids is affecting the confectionery ingredients industry, and in turn, the shortening market during the ongoing forecast period.
Technology Analysis
The shortening market is witnessing a huge rise in the investment portions followed by the collaborative efforts of the global governments is helping in the market expansion to carry out the research and development processes as projected for the ongoing forecast period that will be ending in 2030.
Segment Overview
The shortening market has been segmented based on the following to meet the rising needs of the global market audience and help the market opt for global expansion during the period.
Based on Key Ingredient, the Shortening Market has been segmented as follows:
Based on Source, the market has been segmented as follows:
Based on Variant, the market has been segmented as follows:
Based on Application, the market has been segmented as follows:
Based on Region, the market has been segmented as follows:
Regional Analysis
The Asian Pacific region, as a part of the prominently participating regions, has dominated the global Shortening Market functioning and has further, accounted for the largest share, in terms of both value and volume, in the global market, during the historic forecast period that had ended in 2020. The Asian Pacific region amongst the rest in competition comprises developing economies such as India, China, Malaysia, and others like Indonesia. With the rising degree of population and improvements in the purchasing power of consumers in developing countries such as China and India, the global shortening market in this region is expected to witness high growth in the future, as a part of the forecast period. The ongoing market changes in the eating habits of consumers in the APAC region have resulted in a rise in the consumption of bakery products and snacks. These rising market factors drive the shortenings market in the Asia-Pacific region in the upcoming future.
Competitive Landscape
The shortening market is likely to be dominated by key players such as:
Recent Developments
Intended Audience
-Raw material suppliers/growers
-Oilseed suppliers/growers
-Fat and/or oil processors/manufacturers
-Intermediary suppliers
-Consumers
-Research institutes and organizations
-Government bodies, venture capitalists, and private equity firms
Report Overview
The objective of this global market study is to define, segment, and project the size of the market based on the key ingredient, source, variant, application, and the regional functioning of the shortening market. The report aims to provide detailed information about the crucial factors influencing market dynamics involving the market drivers, restraints, opportunities, and industry-specific challenges. The global market opportunities and competitive landscape of market leaders are also considered and studied for the stakeholders. The market report discusses the competitive developments such as expansions and investments, partnerships, agreements, joint ventures, and other options like collaborations, followed by the new product launches, and acquisitions in the market are covered in the study.
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