Shortenings Market

Shortenings Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis,
2018-2026
Shortening is prepared from vegetable oil or animal fat and is solid at room
temperature. Shortening made by hydrogenation of vegetable oils such as Soy, Palm
or Cottonseed are commonly used in applications such as bakery, snacks & savory
products, and confectionery products. Shortening is added to the flour before baking,
in order to prevent lengthening of gluten strands and to avoid formation of tough
matrix. As shortening contains saturated fats, unsaturated fats and trans-fat, it is
enriched in calories. Therefore, most of the companies are changing their shortening
product portfolio towards trans-fat free, to tap potential market of low calorie food.
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Market Dynamics
Increasing demand for baked goods, globally is creating a conducive environment for
growth of global shortenings market. According to Coherent Market Insights’
analysis, per capita consumption of bakery products in Germany, France, and the
U.K. was 85.5 kilograms, 71.5 kilograms, and 47.3 kilograms, respectively, in 2017.
However, availability of alternatives to shortenings such as butter and stringent
government regulations on use of unsaturated fatty acids in food products are some
of the factors restraining growth of the shortenings market. In 2015, U.S. Food and
Drug Administration decided that unsaturated fatty acids are not considered as a
safe food additive, due to health risk associated with consumption of these.
Therefore, companies are focusing on development of products that are alternative
to shortening. Moreover, use of shortenings in food products is highly dependent on
requirement of the final properties of end products. For instance, some people prefer
butter over shortening as butter offer richer flavor and crispier texture.
Excessive consumption of high calorie shortening leads to risk of cardiovascular
diseases. Therefore, consumers are shifting their preference towards low calorie
products, which represents immense opportunity for growth of the low calorie
shortening in the global shortenings market throughout the forecast period.
Market Outlook
On the basis of form, solid segment accounted for major market share in global
shortenings market in 2017. Multiple advantages of solid shortenings over liquid
shortenings such as ease of handling & storage and longer shelf life are factors
aiding in growth of this segment.
On the basis of source, plant-based segment was dominant in terms of share, in the
market in 2017. The segment is projected to maintain its dominance throughout the
forecast period. Plant-based shortening is cheaper as compared to animal based
shortening and possesses high shelf stability. It contains more fat, as a result, it adds
more flaky texture to food products.
On the basis of application, bakery segment accounted for the highest market share
in the market in 2017. Shortenings are preferred in the manufacturing of bakery
products, in order to get crumbly, flaky, and crusty texture. Therefore, increasing
demand for shortenings in the manufacturing of biscuits, cookies, and various other
products is fueling growth of the bakery segment.
Owing to bulk availability of raw materials required for shortening such as palm oil,
Asia Pacific is expected to gain major traction in the global market over the forecast
period. ASEAN countries such as Indonesia, Malaysia, and Thailand are the leading
producers of palm oil in Asia Pacific. According to combined study conducted by
Indonesia Palm Oil Producers Association (Gapki) and Indonesia Ministry of
Agriculture, the overall production of palm oil was 32 million tons in 2016, out of
which, 27 million tons of palm oil was exported. Moreover, according to Gapki, the
overall production of palm oil in Indonesia is projected to reach 40 million tons by
2020. This is one of the major factors driving growth of the market in the region.
Key players in Global Shortenings Market
Key players operating in the global shortenings market include Archer Daniels
Midland Company, Cargill Incorporated, Bunge Limited, Wilmar International
Limited., Ventura Foods, LLC, Conagra Brands, Associated British Foods PLC, and
AAK AB.
Several companies that manufacture shortening are adopting various organic and
inorganic growth strategies, in order to sustain their market position. Mergers,
acquisitions and expansions in various geographies, and new product launches are
some of key strategies followed by major players in the shortenings market. For
instance, in October 2016, Cargill Incorporated launched five new bakery shortening
products under its Regal product line. The new Regal bakery shortenings include
Regal Icing Shortening NH, Regal Donut Fry Shortening, Regal Puff Pastry
Shortening, Regal Cake & Icing Shortening, and Regal All Purpose Shortening.
These products were strategically launched to meet rising demand for shortening
from bakery industries. Such activities are creating a conducive environment for
growth of the market.
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The research report on shortenings market categorizes the global market by source (Plant Based and Animal Based), by form (Solid and Liquid), by application (Bakery, Snacks & Savory, Confectionery, and Others), distribution channel (Hypermarkets, Supermarkets, Online Stores, and Others)

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