What is Global Shortening Market?
The Global Shortening Market is a comprehensive study of the worldwide consumption, production, and sales of shortening, a type of fat used in cooking and baking. Shortening is typically made from vegetable oils, but can also be made from animal fats. It is used to give baked goods a tender, flaky texture. The market encompasses the production and sale of all types of shortening, including all-purpose, emulsified, and high-stability shortening. The global market for shortening was valued at US$ 4021.6 million in 2022, and it is projected to grow at a steady pace, reaching an estimated value of US$ 4792.9 million by 2029. This represents a compound annual growth rate (CAGR) of 2.5% from 2023 to 2029.
All Purpose Shortening, Emulsified Shortening, High Stability Shortening in the Global Shortening Market:
All-purpose shortening is a versatile product that can be used in a variety of cooking and baking applications. It is typically made from a blend of vegetable oils and is designed to have a neutral flavor and a high smoke point, making it suitable for frying as well as baking. Emulsified shortening is a specialized product that contains emulsifiers, which help to mix water and fat. This type of shortening is often used in commercial baking to create products with a light, airy texture. High-stability shortening is designed to remain stable at high temperatures and over long periods of time, making it ideal for use in industrial food production.
Baking, Frying, Confectionery and Pastry, Others in the Global Shortening Market:
The Global Shortening Market is used in a variety of areas, including baking, frying, confectionery, and pastry. In baking, shortening is used to create a tender, flaky texture in products like pie crusts and biscuits. It is also used in frying, where its high smoke point makes it ideal for deep-frying foods. In confectionery and pastry, shortening is used to create a smooth, creamy texture in products like frosting and cream fillings. Other uses for shortening include its use as a fat source in processed foods and as a release agent in baking pans.
Global Shortening Market Outlook:
The global Shortening market outlook highlights the steady growth of the market, with a projected CAGR of 2.5% from 2023 to 2029. The market was valued at US$ 4021.6 million in 2022 and is expected to reach US$ 4792.9 million by 2029. The largest regional market for shortening is Germany, which holds a market share of about 25%, followed by France and the UK. The top five manufacturers in the industry are ADM, Walter Rau, AAK, Puratos, and Princes Group, which together hold a combined market share of about 50%.
| Report Metric | Details |
| Report Name | Shortening Market |
| Accounted market size in 2023 | US$ 4021.6 million |
| Forecasted market size in 2030 | US$ 4792.9 million |
| CAGR | 2.5% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Olenex, ADM, Walter Rau, Y?ld?z Holding, VFI GmbH, AAK, Zeelandia, Puratos, Princes Group, HAS Group |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
