Dublin, Oct. 23, 2023 (GLOBE NEWSWIRE) -- The "Shortenings Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global shortenings market is poised for continuous expansion, with a projected increase from $4.07 billion in 2022 to $4.28 billion in 2023, representing a compound annual growth rate (CAGR) of 5.1%. Further growth is expected, reaching $5.12 billion by 2027, driven by a CAGR of 4.6%.
Major players in the shortenings market, including Cargill Incorporated, Bunge Limited, Wilmar International Limited, and others, are strategically positioning themselves to seize emerging opportunities in this dynamic industry.
Reasons to Purchase
- Global Perspective: Gain insights into the shortenings market across 50+ geographies, allowing for a truly global perspective.
- COVID-19 Impact: Understand the market's response to the pandemic as its effects wane.
- Russia-Ukraine War: Assess the war's impact on agriculture, energy, mineral commodity supply, and its indirect influence on the market.
- Inflation Impact: Measure the effects of high global inflation on market growth.
- Regional Strategies: Create informed strategies at the regional and country levels based on local data and analysis.
- Identify Growth Segments: Pinpoint growth segments for investment.
- Competitive Advantage: Outperform competitors with forecast data and key market trends.
- Market Share: Understand customer preferences through the latest market shares.
- Benchmark Performance: Compare performance against key competitors.
- Support for Presentations: Access reliable, high-quality data and analysis to enhance internal and external presentations.
Shortening is a solid fat at room temperature used to enhance the texture of dishes like pastries. It prevents the absorption of water by flour, inhibiting gluten production and preventing dishes from becoming stretchy.
Variants of Shortenings
- Solid Shortenings: Includes lard, margarine, and butter, sourced from vegetables and animals. Sold through direct and indirect channels, used in HoReCa, bakery, confectionery, processed food, and household retail.
- Liquid Shortenings: Versatile and used in various applications.
- Cake/Icing Shortenings: Specifically formulated for cakes and icing.
- All-Purpose Shortenings: Suitable for a wide range of culinary uses.
Market Research Report
The shortenings market research report offers comprehensive statistics, including global market size, regional shares, key competitors, market segments, trends, and opportunities. It provides valuable insights for thriving in the shortenings industry.
Product Innovation Driving Market
Key players, such as Conagra Brands, are innovating with products like Reddi-Wip Zero Sugar, a keto-friendly whipped cream topping with zero sugar and lower calories. In 2020, B&G Foods acquired Crisco, responding to increased customer demand during the pandemic.
North America Leads
In 2022, North America led the shortenings market. Other regions covered include Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
Key Countries
Key countries covered in the report include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the USA.
Growing Bakery Demand
The rise in bakery product demand is a significant driver for the shortenings market. Shortenings enhance bakery products by providing a crumbly texture. Sales in the bakery aisle surged during the pandemic, reflecting changing food habits.
Market Value Definition
The market value is defined as the revenues generated by organizations within the specified market and geography, encompassing sales, grants, or donations. It excludes resales along the supply chain.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $4.28 billion |
| Forecasted Market Value (USD) by 2027 | $5.12 billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Shortenings Market Characteristics
3. Shortenings Market Trends And Strategies
4. Shortenings Market - Macro Economic Scenario
4.1. COVID-19 Impact On Shortenings Market
4.2. Ukraine-Russia War Impact On Shortenings Market
4.3. Impact Of High Inflation On Shortenings Market
5. Shortenings Market Size And Growth
5.1. Global Shortenings Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Shortenings Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Shortenings Market Segmentation
6.1. Global Shortenings Market, Segmentation By Variant, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Solid
- Liquid
- Cake Or Icing
- All-Purpose
6.2. Global Shortenings Market, Segmentation By Source, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Vegetables
- Animal
6.3. Global Shortenings Market, Segmentation By Sales Channels, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Direct Sales
- Indirct Sales
6.4. Global Shortenings Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- HoReCa (Hotels, Restaurants, And Catering)
- Bakery
- Confectionery
- Processed Food
- Household Retail
7. Shortenings Market Regional And Country Analysis
7.1. Global Shortenings Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Shortenings Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/22907o
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