According to the report by Expert Market Research (EMR), the global shortening fats market share is projected to grow at a CAGR of 4.30% between 2024 and 2032. The market is driven by the expansion of the bakery and confectionery sector, which is the primary consumer of shortening fats, the surge in demand for convenient foods, and globalisation of food trends.
Shortening fats, primarily used in baking and cooking to enhance texture and flavour, are witnessing increased demand due to their versatility and functional properties. They are derived from vegetable oils or animal fats and are integral in producing a wide range of food products, including pastries, bread, cakes, and fried foods. Their ability to enhance the texture, mouthfeel, and shelf life of food products makes them a preferred choice in the food sector. Moreover, the growing trend of clean-label and non-GMO products has led to a surge in demand for shortening fats derived from natural and sustainable sources.
The shortening fats market growth is primarily driven by the expanding bakery and confectionery sector, where shortening fats are extensively used to achieve the desired texture and consistency in products. The increasing consumption of baked goods and convenience foods, coupled with the rising disposable income and urbanisation, further fuels the market expansion.
Additionally, the shift towards plant-based and vegan diets has prompted manufacturers to develop innovative shortening fats that cater to these dietary preferences. The demand for trans-fat-free and low-saturated-fat shortening options is also on the rise, driven by growing health consciousness among consumers and stringent regulations regarding trans fats in food products, consequently driving up the shortening fats market share.
Moreover, technological advancements in the food processing sector have led to the development of specialised shortening fats with enhanced functional properties, such as improved heat stability and extended shelf life. Manufacturers are focusing on product innovation to meet the evolving needs of the food sector, including the formulation of non-hydrogenated and organic shortening options, thereby leading to the shortening fats market development.
The market share of shortening fats in bakery applications is projected to increase significantly. This growth is driven by the rising demand for bakery products due to changing lifestyles, increasing populations, and economic progress. Fully hydrogenated soybean oil, derived from soybeans without trans fats, is commonly used as a hard fat in the production of bakery shortenings.
Asia Pacific is anticipated to hold a significant share of the global shortening fats market, owing to the rapid growth of the food sector in countries like China, India, and Japan. The increasing adoption of western-style diets and the rising demand for convenience foods are major factors contributing to the market’s growth in this region.
Market Segmentation
The market can be divided based on the product type, application, and region.
Market Breakup by Product Type
- Vegetable Based
- Palm and Palm Kernel
- Sunflower Seed
- Soybeans
- Others
- Animal Based
- Butter
- Tallow
- Lard
- Others
Market Breakup by Application
- Confectionery
- Ice Cream
- Snacks
- Bakery
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global shortening fats market. Some of the major players explored in the report by Expert Market Research are as follows:
- Cargill, Incorporated
- Bunge Limited
- Pristine Baking Solutions
- Soren Srl
- AAK AB
- Others
- What are shortening fats and where are they commonly used? Shortening fats are fats derived from vegetable oils or animal fats used primarily in baking and cooking to enhance texture and flavor. They are integral in the production of a wide range of food products such as pastries, bread, cakes, and fried foods.
- What is the projected growth rate for the global shortening fats market from 2024 to 2032? The global shortening fats market is projected to grow at a compound annual growth rate (CAGR) of 4.30% between 2024 and 2032.
- What factors are driving the growth of the shortening fats market? Key growth drivers include the expansion of the bakery and confectionery sector, increased demand for convenient foods, globalization of food trends, and rising consumer preference for clean-label and non-GMO products.
- How are consumer dietary preferences influencing the shortening fats market? The shift towards plant-based and vegan diets has prompted manufacturers to develop shortening fats that cater to these preferences. There is also a rising demand for trans-fat-free and low-saturated-fat shortening options, driven by growing health consciousness among consumers.
- What technological advancements are impacting the shortening fats market? Technological advancements in food processing have led to the development of specialized shortening fats with enhanced properties like improved heat stability and extended shelf life. This includes the formulation of non-hydrogenated and organic shortening options.
- Which region holds a significant share of the global shortening fats market? Asia Pacific holds a significant share of the global market, with rapid growth in the food sector in countries like China, India, and Japan, driven by the adoption of western-style diets and rising demand for convenience foods.
- What are the primary applications of shortening fats in the food industry? Shortening fats are primarily used in confectionery, ice cream, snacks, and especially in bakery applications to achieve desired texture and consistency.
- Who are the major players in the global shortening fats market? Major players in the market include Cargill, Incorporated, Bunge Limited, Pristine Baking Solutions, Soren Srl, and AAK AB. These companies contribute to the market through continuous product innovation and strategic expansions.
