The significant demand for convenience foods among consumers is driving the global shortening fats market. Manufacturers in the food and beverage industry are increasingly focussing on reducing trans-fat and enhancing the texture of food products. Shortening is also referred to as hydrogenation, where extra hydrogen atoms are added to vegetable fats and later converted into solids from liquid.
Shortening solid fats have numerous functional benefits which include longer shelf-life, better elasticity, and higher smoke point. Owing to such benefits, these are extensively used in bakery products. Moreover, bakery manufacturers prefer to use fat shorteners owing to their low processing and effectively reduce the gluten strands as compared to other alternatives. These fats have the capability to produce melt-in-mouth and tender food texture by reducing gluten strands.
As per the report, some of the key players operating in the global market include:
- Conagra Foodservice
- COFCO Group Co. Ltd.
- Wilmar International
- Fuji Oil Asia
- IFFCO Group
- Namchow Holdings CO., Ltd
- Palsgaard A/S
The global market sees a growth trajectory owing to the increasing improvised formulations and these improvements are acceptable among consumers. The rising consumption of bakery products is expected to push the shortening fats market growth in the forecast years.
Fortune Business Insights offers a detailed overview of the global market in the report, titled “Shortening Fats Market Size, Share & Industry Analysis, By Type (Butter, Margarine (Both Solid and Liquid), Vegetable Oils, Lard, Other Processed Shortening Fats), By Form (Solid, Liquid, All-purpose shortening, Cake/icing shortening), By Application (Confectionery, Bakery, Dairy, Snacks, Other Processed Foods) and Regional Forecast, 2019-2026.”
The report deeply analyzes the outlook of the market with the latest market trends. It further offers a detailed overview of the market dynamics by focusing on factors impelling growth opportunities in the global market. In addition to this, the report chalks out regional level analysis by integrating demand and supply forces which influence the market growth. It also sheds light on the competitive landscape by involving market share of several key players operating in the market.
Major Segments Includes:
- Margarine (Both Solid and Liquid)
- Vegetable Oils
- Other Processed Shortening Fats
- All-purpose shortening
- Cake/icing shortening
- Other Processed Foods
Rising Demand for Vegetable Oils Among End-use Industries to Uplift the Market Growth
Among different types of shortening fats, the demand for vegetable oils is expected to increase owing to the increasing availability of raw materials. This, coupled with the burgeoning demand among end-use sectors and economical production of vegetable oils, is expected to favor the segment’s growth in the forthcoming years. These types of fat shorteners are extensively used in food items where liquid consistency is important. Some of the food items include bread, cakes, bakery items, and rolls. As per application, bakery is expected to lead the global market on account of the increasing consumption of cakes and cookies. These fats are completely irreplaceable and are widely used for creaming applications as they can incorporate large air bubbles.
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Presence of Private and Independent Label Bakers to Drive the Market in North America
Among regions, North America is expected to lead the global market over the projected horizon. This is attributable to the presence of well-established bakery sector with several private and independent players. Evolving consumer preference towards healthy indulgences in freshly baked items such as pies, cakes, bread among others. The demand for organic, highly convenient, and clean-labelled food products is increasing. This, as a result, can create attractive growth opportunities for the manufacturers, thereby enabling growth in the market.
The market in Europe is expected to register decent growth in the global market between 2018 and 2026. Fats containing micronutrients such as essential oils called fortified shortenings are likely to witness growth opportunities for bakers as well as for consumers.
Apart from North America and Europe, the market in Asia Pacific is expected to register faster growth during the forecast period. This is primarily owing to the increasing consumption of baked foods.
Cargill to Introduce its New Palm Oil Shortening Line Called Palm Agility
The functional superiority of shortening fats is expected to stimulate growth in the market. Companies in this market are focussing on capitalizing on artisanal and indulgent and premiumization of baked goods. These goods need considerable amount of fats intended to produce desirable sensory material goods.
Among these, Cargill announced the launch of a new palm oil called PalmAgility in February 2019. The company plans to expand its portfolio into oil shortening line for baked products. This palm oil aims to minimize brittleness and can be stored easily without losing texture.
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