The dairy free shortening market is likely to register a CAGR of 10% during the forecast period, and is anticipated to reach a market share of US$ 69 Bn in 2032, from US$ 20 Bn in 2020, as dairy free shortening is non-hydrogenated and contains no trans-fat or cholesterol.
| Attributes | Details |
| Dairy Free Shortening Market CAGR | 10% |
| Dairy Free Shortening Market (2020) | US$ 20 Bn |
| Dairy Free Shortening Market Size (2032) | US$ 69 Bn |
As dairy free shortening is non-hydrogenated and contains no trans-fat or cholesterol, demand for dairy-free shortening is growing. They are also flavorful and savory, which has boosted sales of dairy-free shortening.
Demand for dairy free shortening is increasing due to many uses, such as frosting and icing of the cuisine, as well as the fact that it is a good substitute for butter, canola oil, and also cuts down on saturated fat without altering the flavor of the product.
Dairy free shortening is vital in baking, because it ensures that the end product is natural to consume, which expands the sales of dairy free shortening. Furthermore, the dairy-free shortening market share is blooming as it increases baked items' freshness, volume, and flavor. Due to its low melting point, it can maintain the quality of its product.
Due to rapid growth and changing consumer eating patterns, bakery and confectionary products are in higher demand nowadays. Demand for dairy free shortening is rising, as it can be used in place of butter or margarine, and it can also be used to improve the quality of cuisine.
As it is a good substitute and can be used in several applications, which enhances the sales of dairy free shortening. People's diets have changed dramatically as a result of westernized society, as they consume more dairy products, such as ice cream, cake, pastries, pie crust, and bread, and demand for dairy free shortening has increased. In emerging countries, there has been a growing trend toward vegan diets, which is fueling the sales of dairy free shortening.
As consumers all over the world have started to adopt healthy lifestyles or diets as a result of lactose sensitivity, demand for dairy free shortening is increasing. Consumers are increasingly opting for cruelty-free items, such as meat and dairy substitutes, with dairy-free shortening being one of them, as a result of rising health awareness and sustainability concerns.
Sales of dairy-free shortening are on the rise among millenials for a variety of reasons, including ethical concerns, increased allergies to dairy products, animal welfare, and so on.
The report assesses the data for different regions, which includes North America, Latin America, Europe, South Asia, Oceania, Middle East & Africa, impacting the dairy free shortening market. The study is based on firsthand experience, qualitative and quantitative analysis by industry analysts, and contributions from industry professionals and value chain players.
The research examines parent market trends, macroeconomic data, and dairy free shortening market share controlling factors in depth, as well as market attractiveness by segment. The qualitative influence of key dairy free shortening market factors on market segments and regions is also mapped out in the study.
Some of the key manufacturers and suppliers operating in the global dairy free shortening market are Blue Diamond Growers, Groupe Danone, The Whitewave Foods Company, Vitasoy International Holdings Limited, Good Karma Foods, The Hein Celestial Group, GraceKennedy Group, Inc., SunOpta, Inc., Oatly A.B., and Good Karma Foods, among others, are holding a substantial dairy free shortening market share.
| Report Attribute | Details |
| Growth rate | CAGR of 10% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 - 2020 |
| Forecast period | 2022 - 2032 |
| Quantitative units | Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis, |
| Segments covered | Nature, type, end use, sales channel, region |
| Regional scope | North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa |
| Key companies profiled | Blue Diamond Growers, Groupe Danone, The Whitewave Foods Company, Vitasoy International Holdings Limited, Good Karma Foods, The Hein Celestial Group, GraceKennedy Group, Inc., SunOpta, Inc., Oatly A.B., and Good Karma Foods |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The dairy free shortening market is anticipated to register a CAGR of 10% during the forecast period.
The dairy free shortening market share is anticipated to reach US$ 69 Bn in 2032.
Demand for dairy free shortening is likely to rise, as dairy free shortening is non-hydrogenated and contains no trans-fat or cholesterol.
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