[FURL=https://www.industryarc.com/Research/Shortenings-Market-Research-504639]Shortenings Market[/FURL] size in 2019 is estimated to be $ 4,053 million, growing at a CAGR of 4.7% during the forecast period 2020-2025. Shortening is a solid vegetable fat that is typically made by hydrogenating, or solidifying vegetable oils. Shortenings can be considered as an important ingredient of baking. It is used in baking to help make products crumbly, flaky and tender. Growing demand for bakery and confectionery products and increasing consumption of fat-free food products are the major factors driving the growth of the market. Key Takeaways
In 2019, North America dominates the Shortenings Market owing to increasing population and easy availability of palm oil and increasing demand for baked products such as biscuits, pastries, cakes, and bread.
Growing demand for bakery and confectionery products and increasing consumption of fat-free food products is driving the market growth of shortenings.
Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Shortenings Market report.
Increasing awareness about health regarding the over-consumption of fats and oils are challenging the growth of the market.
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Geography - Segment Analysis
North America dominated the Shortenings Market share accounting for 40% of the market in 2019. This is mainly owing to increasing population and easy availability of palm oil and increasing demand for baked products such as biscuits, pastries, cakes, and bread. According to American Bakers Association, the consumption of bakery and confectionery products is increasing, about 14.7 million tonnes of bakery are consumed which increases the growth of Shortenings Market.
However, the Asia-Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to changing lifestyle and growing production of confectionery products.
Drivers – Shortenings Market
Growing Demand for Bakery and Confectionery Products
Increasing Consumption of Fat-Free Food Products
Shortenings Industry Outlook
Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Shortenings Market. Shortenings top 10 companies are Archer Daniels Midland Company, AAK AB, Bunge Limited, Manildra Group, Ventura Foods, LLC, International Foodstuff Company Holdings Limited, Cargill, Wilmar International Limited, Associated British Foods, and ConAgra Brands.
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