The global specialty shortenings market is said to register a CAGR of 4.5% from 2022 to 2032, intended to earn revenue of US$ 7.1 Billion by 2032, up from US$ 4.6 Billion in 2022.
The demand for specialty shortening is higher as the need for low-trans-fat property specialty shortening is increasing because of growing consumer requirements for less fat-containing products. Growing consumption of processed food and beverage industry across the world is driving the global specialty shortenings market.
| Report Attribute | Details |
|---|---|
| Specialty Shortenings Market Value (2022) | US$ 4.6 Billion |
| Specialty Shortenings Market Anticipated Forecast Value (2032) | US$ 7.1 Billion |
| Specialty Shortenings Market Projected Growth Rate (2022 to 2032) | 4.5% |
Specialty shortenings are fatty substances that are primarily used in bakery and confectionery products. The demand for specialty shortenings is higher owing to their property of giving bakery products their crisp and crumbly texture. They provide texture and stability in products such as fillings, bread, cake, and icing.
Besides crips and crumbly texture, specialty shortenings also increase the plasticity of the dough. Some of the other listed advantages of specialty shortenings are good shortening power, adding pleasant or bland flavor, and longer shelf life. Cocoa butter was conventionally used as a shortening agent, but cocoa butter is not cost-efficient, and therefore the search for alternatives in the specialty shortenings in the global market is increasing.
Kokum butter obtained from kokum seed kernels is one of the many alternatives, and it has surging use in the cosmetic industry. The sales of specialty shortenings are increasing and boosting the global specialty shortenings market owing to the ease of handling the product across all purposes. Specialty shortening products are available in liquid as well as dry form, and they can be derived from plants and animals.
The constant increase in the demand for bakery and confectionery products across the world is fuelling the global specialty shortenings market and increasing the market demand too.
The main ingredient while making any bakery products such as pastries, cakes, and cookies is specialty shortening. It also has uses in products other than a bakery, such as chocolate, dairy products, pharmaceutical, ice cream, cosmetics, and other industries.
Globally there is a huge demand for milk products and confectionaries. These products need an additional amount of specialty shortenings to enhance shelf life and texture; this is the reason for more opportunities for the specialty shortening market.
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The increasing popularity of plant-based ingredients has resulted in an additional opportunity for plant-based specialty shortenings in the global specialty shortenings market. Besides, the increasing consumption of processed food and beverage industries across the globe is fuelling the global specialty shortenings market.
Processed food items such as noodles and pasta are consumed as staple foods in some nations. The preparation time is less for dried noodles, pasta, dry-ready meals, and several other processed food products. The specialty shortenings in bread products are usually used for varied functional benefits such as higher smoke points, improved elasticity, and better shelf life.
Plant-based specialty shortenings are derived from vegetable oils such as sunflower oil, palm oil, rapeseed oil, olive oil, soybean oil, and coconut oil. Animal-derived specialty shortenings are extracted from rendered animal fats like tallow and lard. Plant-based shortenings are experiencing greater demand owing to their several health benefits as compared to animal-derived shortenings. Also, due to the growing vegan population across the world and rising health awareness among consumers, the plant-based segment is anticipated to witness a bigger market share.
Increasing consumption of chocolate is also driving the global specialty shortenings market. There is a demand for chocolate across the globe owing to its stress-relieving and mood-uplifting qualities; this has positively impacted the rise in the demand for specialty shortenings.
Specialty shortenings are also used in several other industries apart from food and beverage, such as personal care, cosmetics, and pharmaceutical products. The demand for personal care and cosmetics is constantly increasing around the world due to rising consumer awareness pertaining to better access.
The development of cosmetics and personal care products that are gender-specific is leading to the growth of the cosmetic industry. Therefore, there is also an upsurge in demand for specialty shortenings in the worldwide market.
In the global specialty shortenings market, region-wise, North America and Europe account for the major market share. Consumer adoption of goods and products such as cosmetics and personal care, processed foods and beverages, and pharmaceuticals is higher in European and North American countries.
In 2020, Europe attributed the maximum market share owing to the increasing trend of confectionary and freshly baked products in the markets like cake, bread, dried noodles, etc. Nevertheless, the Asia Pacific and the Middle East, and Africa regions are said to experience the biggest growth rate during the forecast period in the global specialty shortenings market.
Factors like ease of access to consumer goods and the majority population shifting from rural areas to urban areas are contributing to the market growth and demand for specialty shortenings in the Asia Pacific and the Middle East and Africa regions.
The young population in the Asia Pacific is portraying more interest in baked and confectionary items, and altering their eating lifestyle is propelling this region to be the fast-growing region in the specialty shortening market.
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A few of the key players in the Specialty Shortenings market include Bunge North America, Inc., Cargill, Inc., Archer Daniels Midland Company, Ventura Foods, Musim Mas Holdings Pte. Ltd., Sime Darby Kempas Sdn. Bhd., and Tate & Lyle Plc.
Key market players in the specialty shortening market have implemented business expansion and novel product launches as their strategic developmental strategies to develop their market share, enhance profitability, and continue competing in the market. In April 2022, Cargill, Inc. is said to develop the nutrient research and development abilities of its Global Animal Nutrition Innovation Centre to serve food and agriculture, industry customers.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million, Volume in Kilotons, and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
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The global specialty shortenings market is set to advance at a CAGR of 4.5% from 2022 to 2032.
The Specialty Shortenings market is projected to hold a market share of US$ 7.1 billion by 2032.
Some of the key players holding major global specialty shortenings market share are Bunge North America, Inc., Cargill, Inc., Archer Daniels Midland Company, Ventura Foods, Musim Mas Holdings Pte. Ltd., Sime Darby Kempas Sdn. Bhd., and Tate & Lyle Plc.
1. Executive Summary | Specialty Shortenings Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and Their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyers 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032 4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2017 to 2021 4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2022 to 2032 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Form 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Form, 2017 to 2021 5.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Form, 2022 to 2032 5.3.1. Dry 5.3.2. Liquid 5.4. Y-o-Y Growth Trend Analysis By Form, 2017 to 2021 5.5. Absolute $ Opportunity Analysis By Form, 2022 to 2032 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Source 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Source, 2017 to 2021 6.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Source, 2022 to 2032 6.3.1. Plant-based 6.3.2. Animal-derived 6.4. Y-o-Y Growth Trend Analysis By Source, 2017 to 2021 6.5. Absolute $ Opportunity Analysis By Source, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By End Use 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By End Use, 2017 to 2021 7.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By End Use, 2022 to 2032 7.3.1. Food and Beverage 7.3.2. Bakery and Confectionery 7.3.3. Dairy 7.3.4. Sauces, Soups, and Dressings 7.3.5. Cosmetics and Personal Care Products 7.3.6. Pharmaceutical 7.4. Y-o-Y Growth Trend Analysis By End Use, 2017 to 2021 7.5. Absolute $ Opportunity Analysis By End Use, 2022 to 2032 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Distribution Channel 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Distribution Channel, 2017 to 2021 8.3. Current and Future Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Distribution Channel, 2022 to 2032 8.3.1. Direct Sales Channel 8.3.2. Indirect Sales Channel 8.3.2.1. Hypermarket/Supermarket 8.3.2.2. Specialty Stores 8.3.2.3. Online Retail 8.3.2.4. Mass Grocery Stores 8.3.2.5. Other Retail Format 8.4. Y-o-Y Growth Trend Analysis By Distribution Channel, 2017 to 2021 8.5. Absolute $ Opportunity Analysis By Distribution Channel, 2022 to 2032 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region 9.1. Introduction 9.2. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis By Region, 2017 to 2021 9.3. Current Market Size Value (US$ Million) & Volume (Tons) Analysis and Forecast By Region, 2022 to 2032 9.3.1. North America 9.3.2. Latin America 9.3.3. Europe 9.3.4. Asia Pacific 9.3.5. Middle East and Africa 9.4. Market Attractiveness Analysis By Region 10. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017 to 2021 10.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2022 to 2032 10.2.1. By Country 10.2.1.1. USA 10.2.1.2. Canada 10.2.2. By Form 10.2.3. By Source 10.2.4. By End Use 10.2.5. By Distribution Channel 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Form 10.3.3. By Source 10.3.4. By End Use 10.3.5. By Distribution Channel 10.4. Key Takeaways 11. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017 to 2021 11.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2022 to 2032 11.2.1. By Country 11.2.1.1. Brazil 11.2.1.2. Mexico 11.2.1.3. Rest of Latin America 11.2.2. By Form 11.2.3. By Source 11.2.4. By End Use 11.2.5. By Distribution Channel 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Form 11.3.3. By Source 11.3.4. By End Use 11.3.5. By Distribution Channel 11.4. Key Takeaways 12. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017 to 2021 12.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2022 to 2032 12.2.1. By Country 12.2.1.1. Germany 12.2.1.2. United Kingdom 12.2.1.3. France 12.2.1.4. Spain 12.2.1.5. Italy 12.2.1.6. Rest of Europe 12.2.2. By Form 12.2.3. By Source 12.2.4. By End Use 12.2.5. By Distribution Channel 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Form 12.3.3. By Source 12.3.4. By End Use 12.3.5. By Distribution Channel 12.4. Key Takeaways 13. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017 to 2021 13.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2022 to 2032 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.1.4. Malaysia 13.2.1.5. Singapore 13.2.1.6. Australia 13.2.1.7. New Zealand 13.2.1.8. Rest of Asia Pacific 13.2.2. By Form 13.2.3. By Source 13.2.4. By End Use 13.2.5. By Distribution Channel 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Form 13.3.3. By Source 13.3.4. By End Use 13.3.5. By Distribution Channel 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Tons) Trend Analysis By Market Taxonomy, 2017 to 2021 14.2. Market Size Value (US$ Million) & Volume (Tons) Forecast By Market Taxonomy, 2022 to 2032 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of Middle East and Africa 14.2.2. By Form 14.2.3. By Source 14.2.4. By End Use 14.2.5. By Distribution Channel 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Form 14.3.3. By Source 14.3.4. By End Use 14.3.5. By Distribution Channel 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2021 15.1.2.1. By Form 15.1.2.2. By Source 15.1.2.3. By End Use 15.1.2.4. By Distribution Channel 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2021 15.2.2.1. By Form 15.2.2.2. By Source 15.2.2.3. By End Use 15.2.2.4. By Distribution Channel 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2021 15.3.2.1. By Form 15.3.2.2. By Source 15.3.2.3. By End Use 15.3.2.4. By Distribution Channel 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2021 15.4.2.1. By Form 15.4.2.2. By Source 15.4.2.3. By End Use 15.4.2.4. By Distribution Channel 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2021 15.5.2.1. By Form 15.5.2.2. By Source 15.5.2.3. By End Use 15.5.2.4. By Distribution Channel 15.6. United Kingdom 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2021 15.6.2.1. By Form 15.6.2.2. By Source 15.6.2.3. By End Use 15.6.2.4. By Distribution Channel 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2021 15.7.2.1. By Form 15.7.2.2. By Source 15.7.2.3. By End Use 15.7.2.4. By Distribution Channel 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2021 15.8.2.1. By Form 15.8.2.2. By Source 15.8.2.3. By End Use 15.8.2.4. By Distribution Channel 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2021 15.9.2.1. By Form 15.9.2.2. By Source 15.9.2.3. By End Use 15.9.2.4. By Distribution Channel 15.10. China 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2021 15.10.2.1. By Form 15.10.2.2. By Source 15.10.2.3. By End Use 15.10.2.4. By Distribution Channel 15.11. Japan 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2021 15.11.2.1. By Form 15.11.2.2. By Source 15.11.2.3. By End Use 15.11.2.4. By Distribution Channel 15.12. South Korea 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2021 15.12.2.1. By Form 15.12.2.2. By Source 15.12.2.3. By End Use 15.12.2.4. By Distribution Channel 15.13. Malaysia 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2021 15.13.2.1. By Form 15.13.2.2. By Source 15.13.2.3. By End Use 15.13.2.4. By Distribution Channel 15.14. Singapore 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2021 15.14.2.1. By Form 15.14.2.2. By Source 15.14.2.3. By End Use 15.14.2.4. By Distribution Channel 15.15. Australia 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2021 15.15.2.1. By Form 15.15.2.2. By Source 15.15.2.3. By End Use 15.15.2.4. By Distribution Channel 15.16. New Zealand 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2021 15.16.2.1. By Form 15.16.2.2. By Source 15.16.2.3. By End Use 15.16.2.4. By Distribution Channel 15.17. GCC Countries 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2021 15.17.2.1. By Form 15.17.2.2. By Source 15.17.2.3. By End Use 15.17.2.4. By Distribution Channel 15.18. South Africa 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2021 15.18.2.1. By Form 15.18.2.2. By Source 15.18.2.3. By End Use 15.18.2.4. By Distribution Channel 15.19. Israel 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2021 15.19.2.1. By Form 15.19.2.2. By Source 15.19.2.3. By End Use 15.19.2.4. By Distribution Channel 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Form 16.3.3. By Source 16.3.4. By End Use 16.3.5. By Distribution Channel 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Bunge North America, Inc. 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Cargill, Inc. 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. Archer Daniels Midland Company 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Ventura Foods 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Musim Mas Holdings Pte. Ltd. 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Sime Darby Kempas Sdn. Bhd. 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. Tate & Lyle Plc. 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Specialty Shortenings Market
