The global shortening powder market size is anticipated to be valued at US$ 10.4 Billion in 2022 and US$ 15.7 Billion in 2032. The ever-increasing demand for bakery products is set to drive the sales of shortening powder in the assessment period. As per FMI, the shortening powder market is likely to exhibit immense growth at a CAGR of 2.8% in the future years.
| Report Attribute | Details |
| Shortening Powder Market Estimated Base Year Value (2021) | US$ 9.1 Billion |
| Shortening Powder Market Expected Market Value (2022) | US$ 10.4 Billion |
| Shortening Powder Market Anticipated Forecast Value (2032) | US$ 15.7 Billion |
| Shortening Powder Market Projected Growth Rate (2022-2032) | 2.8% CAGR |
Shortening is a popular term that refers to solid fat. This fat may be from a vegetable source, such as palm kernel and soybean or from an animal source, such as cow fat (butter) and pig fat (lard).
Shortening mainly refers to hydrogenated vegetable oils since the 20th century. These vegetable oils do not turn easily turn rancid and do not require refrigeration.
These are relatively cost effective and have a higher smoking point than lard or butter. With rapid advancements in food technology, shortening is available in a dry powdered form.
Increasing usage of this powder in baked goods is likely to propel the demand for shortening powder in the upcoming years. It is often rehydrated and used with water.
Moreover, it can be utilized for shallow frying of food items. It is absolutely hassle-free and has a much longer shelf-life, as compared to the conventional shortening. It works best in baking, providing a light, flakey, and fluffy texture to baked goods.
Rising consumption of ready-to-eat food items backed by the busy lifestyle of people is anticipated to bolster the shortening powder market growth in the evaluation period. Rising preference for ethnic food and the trend of Mexican and Thai food in hotels and restaurants are expected to surge the demand for bakery products across the globe.
Further, the ability of shortening powder to improve the palatability, impart softness to crumb structure, and enhance the texture of baked goods is another vital factor that is projected to aid growth. It can also result in the preparation of a uniform product without compromising its taste by easily blending with the ingredients.
As shortening powder is made by using fully hydrogenated oils, no trans fats are produced. However, recent research studies have revealed that these fats can promote fatty liver disease, enlargement of the fat cells, and inflammation. Some of the other studies showcased that interesterified fats if included in an individual’s daily diet can promote fat gain. Spurred by the aforementioned factors, the demand for shortening powder may get hampered in the forthcoming years.
Asia Pacific is anticipated to remain at the forefront by generating the largest shortening powder market share in the near future. This growth is attributable to the increasing impact of the western culture and rising preference for convenience food items across emerging economies, such as India and China.
Apart from that, the rising trend of snacking among millennials and the surging demand for healthier bakery alternatives, such as breads with high-fiber and whole grain content are estimated to bode well for the regional market. The entry of various international bakery and confectionery companies in this region is another crucial factor that is likely to boost growth.
Europe is set to remain in the second position, followed by Asia Pacific in the shortening powder market. Sales of shortening powder in this region are expected to surge at a fast pace owing to the rising consumption of bakery products on a daily basis in developed countries, such as the U.K., Italy, and Germany.
The high disposable income of people in Europe and the increasing demand for packaged bread infused with organic ingredients is another major factor that is projected to augment growth. In addition to that, the emergence of various online food delivery apps is anticipated to push the regional market.
Some of the renowned companies operating in the global shortening powder market include Augason Farms, Archer Daniels Midland Company, DairiConcepts, L.P., Cargill Incorporated, Bluegrass Dairy & Food, Inc., Honeyville, Inc., and The J.M. Smucker Company among others.
Leading players in the global market are focusing on adopting various organic and inorganic strategies, such as mergers & acquisitions, joint ventures, and partnerships to strengthen their positions in the market. A few other key players are investing in the development of new manufacturing facilities and expansion of their existing product portfolios to broaden their customer base worldwide.
| Report Attribute | Details |
| Growth Rate | CAGR of 2.8% 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 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
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| Customization | Available Upon Request |
The global shortening powder market is set to exceed US$ 15.7 Billion in 2032.
Asia Pacific is set to lead the shortening powder market in the forecast period.
Augason Farms, Archer Daniels Midland Company, DairiConcepts, L.P., Cargill Incorporated, and Bluegrass Dairy & Food, Inc. are some of the renowned companies in the shortening powder market.
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