The global fat shortening market is expected to reach USD 4.3 billion by 2023, witnessing a CAGR of 4.3% during 2018-2023 (forecast period). The growth of the convenience food market and favorable functional ingredients, along with the increasing usage of shortening fat in bakery, snacks, confectionary items are largely responsible for the shortening fat demand in the global market. The rapid adaptation of shortening fat in the food processing industry for better texture, functional attributes, and trans-fat reduction properties are boosting this market. Globally, shortening fats are becoming popular in the food industry for their low trans-fat property, and such trends are expected to be seen in the future as well.
The growing processed food industry drives the market for shortening fats. Shortening fats are extensively used in bakery products due to its number of functional benefits such as improving elasticity, have a higher smoke point and has a higher shelf life. Bakery manufactures prefer to use fat shortenings in most of its products, not only because of functional benefits but also as it is processed very low when compared to other alternatives.
The bakery, confectionary and snacks are the largest shortening fat consuming food segments, globally. The fat’s extraordinary properties of improving food appearance, flavor, texture, nutrition, and high melting point make it highly suitable for the food processing industry, at a global level. Currently, baked products, such as sweet biscuits, biscuits, cakes, pastries, bread, and cookies are the largest shortening fat consumption food segments, by application. The products that need appealing properties, palatability and high desired textural characteristics are suitable for shortening fat application.
The global demand for shortening fat is expected to be 20 to 25% higher in the coming decade, at the global level. Asia-Pacific will be the production hub of the global shortening fat industry; this region is the fastest-growing consumer of shortening fat in the global market. India and China are the fastest-growing consumer markets for shortenings fats, whereas, Malaysia and Indonesia are the major producers in the region. The rapid utilization of palm oil for shortening fat production is a major reason for this market forecast.
MAJOR PLAYERS: UNILEVER, BUNGE, NMGK GROUP, CONAGRA, ZYDUS CADILA, WILMAR-INTERNATIONAL, FUJI OIL, BRF, YIDIZ HOLDING, GRUPO LALA, NAMCHOW, SUNNYFOODS, CARGILL, COFCO, UNI-PRESIDENT, MENGNIU, YILI, BRIGHTDAIRY and DAIRY CREST., amongst others.
Reasons to Purchase this Report
• Analyzing outlook of the market with the recent trends and Porter’s five forces analysis.
• Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
• Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects.
• Country-level analysis, integrating the demand and supply forces that are influencing the growth of the market.
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
• Comprehensive company profiles, covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet (in excel).
Customization of the Report
• This report can be customized to meet your requirements. Please connect with our representative, who will ensure you to get a report that suits your needs.
1.1 Research Methodology
1.2 Definition of the Market
1.3 Report Description
2. MARKET OVERVIEW
2.1 Market Trends
3. MARKET DYNAMICS
3.4 Porter's Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of New Entrants
3.4.4 Threat of Substitute Products and Services
3.4.5 Degree of Competition
3.5 Value Chain/Supply Chain Analysis
4. MARKET SEGMENTS
4.1 By Source Type
4.1.3 Sunflower Seed
4.1.4 Palm and Palmkernel
4.2 By Application
4.2.2 Ice Cream
4.3 By Geography
4.3.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 The Netherlands
4.3.4 South America
126.96.36.199 South Africa
5. Competive Landscape
5.1 Most Active Companies
5.2 Market Share Analysis
5.3 Most Adaopted Market Strategies
6. Company Profiles
6.3 NMGK Group
6.5 Zydus Cadila
6.7 Fuji Oil
6.9 Yidiz Holding
6.10 Grupo Lala
6.19 Dairy Crest