The global shortening fats market size was USD 4.64 Billion in 2022 and is likely to reach USD 6.72 Billion by 2031, expanding at a CAGR of 4.2% during 2023–2031. The growth of the market is attributed to rising demand for convenience foods and convenient functional ingredients, coupled with the increasing use of fat in baked goods, snacks, and confectionery.
Shortening is a solid fat at room temperature that can be used to add freshness to foods such as cakes. Examples of fats used as short fats include butter, soybeans, margarine, vegetable oils, and fats. It is usually made from vegetable oils such as soybean oil, cottonseed oil, or refined palm oil, usually liquid at room temperature. Many people use shortening because it is cheap, contains more fat, and is more stable than other fats. Shortening generally refers to hydrogenated oils that are semi-solid and shelf stable. Shortening was so named because shortening refers to the ability of those fats to reduce / shorten gluten. The market for shortening fat is driven by its functional superiority, improved formulation of shortening fat and increasing use of shortening fat. The shortening fat provides the lubricating effect in food base and also affects the organoleptic properties especially texture and taste.
The global market has witnessed the rapid use of short fat in a wide variety of baked goods such as cakes, biscuits, and pastries. It is a well-known and generally accepted fact that most of the commercially available reduced fats are made up of harmful saturated fats and in some cases also contain significant amounts of fats metabolism. The future trajectory and growth of the world market for fat depends on random formulations that are deemed acceptable to the average consumer.
Shortening Fat Market Trends, Drivers, Restraints, and Opportunities
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Growing demand for bakery & confectionery products owing to increasing shelf-life of products and preference for ready to eat food products is expected to boost the market during the forecast period.
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Rapid growth of processed food industry owing to increasing disposable income and increasing consumption of processed food is major factors fueling the market.
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Rising adoption of healthy fat-free food products and plant source fat is anticipated to drive the market during the forecast period.
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Presence of functional food market globally as a substitute to short fat is projected to hinder the market growth.
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Increasing awareness about health and growing health conscious population act as major challenges that can restrict the market growth during the forecast period.
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R&D investment and development in plant based short fat and applications in bakery & confectionery products are projected to offer significant opportunities for the market players.
Scope of Shortening Fat Market Report
The report on the global shortening fat market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Shortening Fat Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Source Types (Palm & Palm kernel, Sunflower Seeds, Vegetable Oil, Soybeans, Animal Based [Butter, Tallow, and Lard], and Others), and Applications (Confectionery, Ice-creams, Snacks, Bakery, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Yidiz Holding (Eksper Food); NMGK Group; Namchow Chemical Industrial Co. Ltd.; FUJI Oil Co. Ltd.; and Cargill Inc.
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Shortening Fat Market Segment Insights
The vegetable oil segment is projected to hold a major market share
In terms of source types, the shortening fat market is fragmented into palm & palm kernel, sunflower seeds, vegetable oil, soybeans, animal based, and others. The animal based segment is further segregated into butter, tallow, and lard. The vegetable oil segment is expected to represent a key share of the market during the forecast period owing to availability of raw materials, production efficiency and high demand from manufacturers of final consumer goods and cakes with healthy liquid consistency. Vegetables and fruits have the largest share of the avocado market, mainly due to their widespread use in the food industry.
The bakery segment is expected to grow at a significant pace
Based on applications, the shortening fat market is segregated into confectionery, ice-creams, snacks, bakery, and others. The bakery segment is expected to hold a key share of the market during forecast period, Biscuits and cakes contain one of the highest amounts of oil. This is mainly due to the increasing use of oils for a variety of functional properties in baked goods, such as biscuits, shortbread or biscuit, which are used to impart a pleasant taste and attractiveness to the product with the desired texture characteristics. Baked goods, breads, confectionery, and mixed rice paper with short course functionalities are driving the segment. Bread, confectionery and snacks are the largest short-fat consumption segments in the world. The special properties of fats, which improve the appearance, taste, texture, nutritional properties and high melting point of food products, make it well suited for the food industry. Currently, baked goods such as biscuits, cakes, baked goods, and bread are the food segments with the major reduced fat consumption depending on the application. Products requiring the desired properties, palatability, and high texture properties are suitable for shortening applications.
North America is expected to dominate the market
On the basis of regions, the shortening fat market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to dominate the market during forecast period. Today's consumers tend to eat healthy food, especially fresh foods such as bread, cakes, pies, and processed foods such as pasta are consumed as a staple food in some countries. Modern lifestyles and the need for entertainment have driven the demand for practical food such as dry noodles and pasta, and other processed foods that require less cooking time. Bakery manufacturers choose to use shortening in most of their products, not only because of its functional benefits, but also because it is very little processed compared to other alternatives.
Segments
The global shortening fat market has been segmented on the basis of
Source Types
- Palm & Palmkernel
- Sunflower Seeds
- Vegetable Oil
- Soybeans
- Animal Based
- Others
Applications
- Confectionery
- Ice-creams
- Snacks
- Bakery
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Yidiz Holding (Eksper Food)
- NMGK Group
- Namchow Chemical Industrial Co. Ltd.
- FUJI Oil Co. Ltd.
- Cargill Inc.
Competitive Landscape
Key players competing in the shortening fat market include Yidiz Holding (Eksper Food); NMGK Group; Namchow Chemical Industrial Co. Ltd.; FUJI Oil Co. Ltd.; and Cargill Inc.
Some of these players are using several market strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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