Shortening Market

The global shortening market is poised for significant growth, reaching $6,373.6 million by 2030 with a CAGR of 4.2%.

WILMINGTON,NEW CASTLE, DELAWARE 19801 USA, UNITED STATE, February 4, 2024 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, “Shortening Market by Source, Application, and Sales Channel: Global Opportunity Analysis and Industry Forecast, 2021–2030,”

👉 𝐆𝐞𝐭 𝐅𝐮𝐥𝐥 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 https://www.alliedmarketresearch.com/request-sample/14359

The global shortening market size was valued at $4,250.0 million in 2020, and is estimated to reach $6,373.6 Million by 2030, registering a CAGR of 4.2% from 2021 to 2030. In 2020, the vegetables segment accounted for significant revenue share in the market, and is expected to grow at a CAGR of 3.8% throughout the forecast period. Europe is one of the prominent regions, which accounted for a sizeable share of the total market in 2020.

The global shortening market has witnessed significant growth over the years, and is expected to grow at a steady pace during the forecast period. This is attributed to increase in demand for animal and marine fats and oils from the foodservice sector and rise in use of lard in the baking industry as bread spreads. In addition, the animal source has expanded rapidly as a result of increased demand from downstream industries such as biodiesel, food, oleo chemical, and pet food. Consumers in developing regions, such as Asia-Pacific, prefer lard over butter in baked goods, thus driving the shortening market trends.

Shortening fat is utilized in most mixtures and batters, to provide the baked item a fresh and brittle texture. Shortening fat can be made from either animal fat or vegetable oil, but shortening made from mostly or completely hydrogenated vegetable oil is more common nowadays. The shortening fat is used in the wider application of the food industry such as ice-creams, dried noodles, and other functional food items for better taste and longer shelf-life in the market.

👉 𝐈𝐧𝐪𝐮𝐢𝐫𝐞 https://www.alliedmarketresearch.com/purchase-enquiry/14359

According to the shortening market analysis, the market is segmented into source, application, sales channel, and region. Depending on source, the market is divided into vegetables and animal. Based on applications, bakery products, confectionery products, snacks & savory products, and others. By sales channel, it is fragmented into direct and indirect sales. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

Based on source, vegetables segment held the major share of 81.1% in the global shortening market. This is attributed to the wide usage of vegetables source in the bakery, confectionery products sector. Moreover, animal source witness highest CAGR throughout the forecast period. Animal fats are necessary for cell growth and the protection of organs in the body. Furthermore, fats play an important role in a variety of biological functions, including the production of hormones and the regulation of vitamins. Thus, animal fats are classified into different groups, including saturated, monounsaturated, trans, and polyunsaturated fats, each of which has a different effect on cholesterol levels.

Based on application, bakery products segment witness a major traction and is likely to gain a major demand in the coming years. Bakery products segment witness an annual growth rate of 3.6% during the forecast period. The demand for bakery products segment is increasing everyday owing to the changing lifestyles, growing population and economic improvements. Growing urbanization and increasing demand for ready to eat or fast food is expected to surge sales of the bakery products. Fortification of bakery products with functional ingredients is further supplementing the shortening market growth.

👉 𝐓𝐚𝐥𝐤 𝐭𝐨 𝐨𝐮𝐫 𝐄𝐱𝐩𝐞𝐫𝐭 https://www.alliedmarketresearch.com/connect-to-analyst/14359

Based on sales channel, indirect sales held the major share of 65.4% in the market. The growth of the indirect sales segment is driven by increase in demand for shortening products, fueled by the boom in bakery and confectionery products.

Depending on the market, Europe accounted for the maximum share in the global market in 2020, and is anticipated to continue this trend in the near future. The demand from the region respective food sectors, which is supported by improvement in living standards and population growth, is driving the market. Moreover, increase in emphasis on biofuels, such as biodiesel produced from animal fats, is augmenting the shortening market demand.

📍 The major players in the market are :

- 𝗖𝗮𝗿𝗴𝗶𝗹𝗹 𝗜𝗻𝗰𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲𝗱
- 𝗣𝗿𝗲𝗺𝗶𝘂𝗺 𝗩𝗲𝗴𝗲𝘁𝗮𝗯𝗹𝗲 𝗢𝗶𝗹𝘀 𝗦𝗱𝗻 𝗕𝗵𝗱
- 𝗕𝘂𝗻𝗴𝗲 𝗡𝗼𝗿𝘁𝗵 𝗔𝗺𝗲𝗿𝗶𝗰𝗮, 𝗜𝗻𝗰
- 𝗙𝗲𝗱𝗶𝗼𝗹
- 𝗡𝗮𝗺𝗰𝗵𝗼𝘄 𝗖𝗵𝗲𝗺𝗶𝗰𝗮𝗹 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝗶𝗮𝗹 𝗖𝗼., 𝗟𝘁𝗱
- 𝗪𝗶𝗹𝗺𝗮𝗿 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗟𝘁𝗱
- 𝗙𝘂𝗷𝗶 𝗢𝗶𝗹 𝗖𝗼., 𝗟𝘁𝗱
- 𝗔𝘀𝘀𝗼𝗰𝗶𝗮𝘁𝗲𝗱 𝗕𝗿𝗶𝘁𝗶𝘀𝗵 𝗙𝗼𝗼𝗱𝘀 𝗽𝗹𝗰
- 𝗩𝗲𝗻𝘁𝘂𝗿𝗮 𝗙𝗼𝗼𝗱𝘀
- 𝗝.𝗠. 𝗦𝗺𝘂𝗰𝗸𝗲𝗿 𝗖𝗼𝗺𝗽𝗮𝗻𝘆

👉 𝐌𝐚𝐤𝐞 𝐚 𝐃𝐢𝐫𝐞𝐜𝐭 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 https://www.alliedmarketresearch.com/checkout-final/62ea038a486e322dddb1e31968fb41d3

[ Key findings of the study ]

» By source, the vegetables segment held the highest share, accounting for 81.1% of the global shortening market.
» Based on application, the bakery products segment held the major share of 44.2% of the market.
» Region wise, Europe held the major shortening market share, and is expected to remain dominant throughout the forecast period.

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
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