The global shortenings market was valued at US$ 3,835.2 Mn in 2018, according to Global Shortenings Market Report, by Category (Plant-based and Animal-based), by Form (Solid and Liquid), by Application (Bakery & Confectionery, Snacks & Savory, and Others (frying, etc.)), by Distribution Channel (Online Stores and Offline Stores), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights.
The global shortenings market is projected to reach US$ 5,051.7 Mn by 2027, exhibiting a CAGR of 3.2% during the forecast period (2019-2027). The market is expected to witness significant growth over the forecast period, attributing to increasing demand for shortenings from various end-use industries such as bakery and confectionery coupled with growth of these industries.
Shortening is considered as a major constituent in bakery and confectionary products, and is used for making frosting. It is used as a texture enhancing agent in cakes, pastries, and cookies to give them crumbly and flaky texture and making them as well as tender. As a result, growth of the bakery and confectionary industry worldwide is expected to propel demand for shortening over the forecast period.
For instance, according to a report titled 'Sector Trend Analysis of Bakery Products' published by Agriculture and Agri-Food Canada (AAFC), in December 2016, the global bakery market reached US$ 338.7 billion in terms of retail value in 2015 from US$ 321.8 billion in 2014, with a CAGR of 4.7% for the period 2010-2015. Moreover, according to the annual report of Federation of Bakers of U.K., published in 2018, the bakery industry was a US$ 4.06 billion industry in the U.K. in retail sales value in 2017.
However, adverse health effects of excessive consumption of trans-fats along with the availability of alternatives such as margarine and butter is expected to hamper growth of the global shortenings market over the forecast period.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 45 market data tables* and 22 figures* on "Shortenings Market” - Global forecast to 2027.
Key Takeaways of the Market:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
Coherent Market Insights
1001 4th Ave,
Seattle, WA 98154
Email: [email protected]
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.
Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.