The Icing Shortening Market is valued at USD 2,288.0 Million in 2022 and is anticipated to reach USD 4,136.3 Million by 2032. The market is expected to grow at a CAGR of 6.1% from 2022 to 2032.
Bakery products such as bread, pastries, muffins, waffles, and other bakery products require icing in order to cover or decorate these products. Icing is otherwise called icing. Icing is a sweet, creamy glaze made up of sugar along with a liquid such as milk or water.
It is often enriched with different ingredients such as egg whites, butter, cream cheese, and flavorings. When icing is used in between the layers of the food, then it is called filling. Icing can be made into different shapes and colors in order to decorate baked goods. The application method of icing largely depends on the type and texture of the icing used in baked goods.
Color dyes are often added to the icing mixtures in order to achieve the desired colors. Complicated icings can be made by beating fat with powdered sugar or by melting fat with sugar.
The fat molecules that are being used for icing are called icing shortening. Icing shortening can be made by beating the fat with egg whites. Icing shortening can also be made by adding ingredients such as glycerin.
| Attributes | Details |
|---|---|
| Icing Shortening Market Size Value in 2022 | USD 2,288.0 Million |
| Icing Shortening Market Projected Size Value in 2032 | USD 4,136.3 Million |
| Global Growth Rate (2022 to 2032) | 6.1% CAGR |
| Forecast Period | (2022 to 2032) |
The launch of a wide range of products with a focus on product developments while taking into consideration the rising demand for Icing Shortening in numerous End Use Applications. The numerous health benefits obtained from these products prove to be a significant driving factor for the market's growth. The market is expected to expand throughout the forecast period.
Future Market Insights projects the market to remain lucrative, exhibiting growth at 6.1% CAGR between 2022 and 2032 in comparison to the CAGR of 4.0% posted between 2016 and 2021.
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A new report published by Future market insights, titled, Icing Shortening Market-FMI 2022 to 2032, projects the global Icing Shortening Market to reach USD 4,136.3 Million by 2032 and is expected to grow at a CAGR of 6.1% from 2022 to 2032. The market grew at a CAGR of 4.0% between 2016 and 2021. Forecasts for growth remain optimistic, with the sales of Icing Shortening predicted to grow at a CAGR of 6.1% between 2022 to 2032. This period marked the entry of various market players and product innovations.
Also, product improvements are anticipated to expand the Icing Shortening in the coming years. The leading players in the Icing Shortening now have a sizable window of opportunity thanks to rising demand.
In the recent decade, there is tremendous growth in the field of bakery and baking products. Modern food additives and ingredients are being followed by the baking industry. Icing shortening is used widely in the baking industry for decorating purposes, as the appearance of any food influences the quality of the food directly.
Icing shortening is made by blending monoglycerides, and diglycerides with citric acid in order to protect the flavor. The monoglycerides and diglycerides in the icing shortening are vegetable fats that are made from hydrogenated vegetable oils. Sometimes animal fats such as pig fat are also used in the icing shortening.
Icing shortening is used as bakery filling fat, bakery margarine, cake shortening, chewing gum stabilizer, spreads, confectionery, dairy fat alternatives, and others. There are two types of oils used in icing shortening. PHO (partially hydrogenated oils) are high fat content oils with high amounts of cholesterol in them. Non-PHO (non-partially hydrogenated oils) are oils that contain less amount of saturated fat in it.
Icing shortening gives good flavor and texture to the cakes and baked goods. Icing shortening has a demand among food manufacturers for its various properties. The demand for icing shortening will result in potential growth in the market as there is an increase in the demand for baked products.
Principal Consultant
Sugar and fat are often whipped together to make the icing. Shortening is fully white, unlike typical fat sources like butter, making it particularly helpful if you want to obtain a dazzling white tint for your icing. Since shortening has a higher melting point, your icing won't melt in higher temperatures. This helps the cake's icing embellishments maintain their shape regardless of the ambient temperature.
Shortening also has the advantage of producing icing that has a lot of volumes and is creamy and fluffy. Who wouldn't want that to cover their cakes in slathering? Have you ever wondered how those elaborate icing flowers on cakes maintain their shape and never melt? The icing most likely contained icing shortening.
The market potential for the icing shortening market is expected to grow, owing to the various properties of icing shortening. Proper consumer awareness among the food manufacturers and food services regarding icing shortening will enhance the consumer purchase of icing shortening which will result in the growth of the icing shortening market.
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The company follows a modeling-based approach and triangulation methodology to estimate data covered in this report.
A detailed market understanding and assessment of the product types, applications, and end uses of the product segments covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period.
The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate overall market sizes.
The USA is a prominent market for Icing Shortening with a dominant market share of 33.8% globally and is also expected to exhibit high growth over the forecast period. According to the latest study, the Icing Shortening Market is anticipated to grow substantially and register a significant CAGR over the forecast period.
According to the FMI’s regional analysis, the region of North America has had the fastest growth due to the enormous demand and supply that exist for Icing Shortening products. This can be explained by the fact that a lot of bakeries and eateries in this part of the world use icing shortening to decorate their cakes and cupcakes. Additionally, the absence of dietary rules banning the use of Tran's fat in developed countries like the United States encourages a setting where customers have easier access to affordable meals high in saturated fats, including bakery products.
Rapid research and development by the major market players have helped the market to experience significant growth and to focus on potential consumers to sustain long-term product sales. This research and development aim to understand and provide sustainable solutions for the increasing demand for convenient food options are fuelling the growth of the Icing Shortening Market in the USA.
According to Future Market Insights, the United Kingdom’s icing shortening market is expected to accelerate at 3.5% CAGR between 2022 and 2032. The market in the country is expected to grow due to variations in consumer lifestyles and a significant impact on the consumption of convenience foods.
Icing shortening is in high demand from the nation's expanding food and beverage industry. It is used in a variety of applications, such as frozen desserts, bakeries, Bread, Cakes & pastries, Cookies and Biscuits, Muffins, Waffles, Pancakes, and other confectionery.
Growing demand for these food products and the expansion of food & beverage industries will eventually fuel sales in the country during the assessment period.
The FMI analysis of the German Icing Shortening Market shows how, the factors such as increased disposable income, brisk middle-class population expansion, high purchasing power, and the popularity of bakery and baked products have increased the demand and contributed to the rapid growth of the market in Germany.
A significant rate of growth in the use of Icing Shortening is projected due to the rising demand from numerous industries. All these significant drivers of growth are increasing the demand in Germany, Accounting for a sizeable market share of 27.7% globally. Manufacturers are expected to use innovative marketing and promotional techniques to boost sales during the forecast period.
The China Icing Shortening Market is diverse and rapidly growing industry, Because of the country's expanding middle class, ongoing Westernization of diets and lifestyles, and growing demand for quick meals, China's bakery business has expanded quickly in recent years. According to forecasts from FMI, there will be a large increase in baked goods retail sales boosting the demand for icing shortening.
In China, numerous new startups and established companies are leveraging this trend to reach new customers and expand their reach. With more people shopping online and seeking out new and innovative food products, the market in China is poised for continued growth during the forecast period. Therefore, the market in China is expected to grow at a CAGR of 4.2% from 2022 to 2032.
The manufacturers are extensively focusing on expanding the application of Icing Shortening in an end-use segment which includes various products like Bread, Cakes and pastries, Cookies and Biscuits, Muffins, Waffles, Pancakes, and Others. Because icing shortenings are fat-based and have improved emulsifier systems, cake icing shortenings are better adapted for incorporating air into batters and attaining accuracy and consistency in specific gravity and aeration.
The bakery industry uses icing shortenings, which help completed cakes have more volume and stability and provide formulators with the tools to change these factors. These all factors are contributing to the growth of market revenue.
The Icing Shortening Market was impacted by COVID 19, although only to a limited extent. Changes in factors such as demand, consumption, transportation, consumer behavior, supply chain management, import, export, and production were constrained.
Research & development is the major modicum for the Icing Shortening Market growth as the growth of the market is spurred by innovation in food ingredients. The Icing Shortening Market currently hosts several players engaged in product innovation and marketing them.
Due to the presence of several local and regional competitors, the industry is extremely fragmented and competitive globally. As a part of their growth strategies, leading players in the market emphasize strategic partnerships, mergers, and acquisitions to establish a firm foothold. Apart from collaborations, a profound emphasis on research and development for better product rollout will help solidify growth prospects during the assessment period. For instance,
Over the forecast period, new companies are expected to enter the Icing Shortening Market, both locally and regionally, due to attractive opportunities. Some of the key players in the Icing Shortening Market are listed below.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2016 to 2021 |
| Market Analysis | USD Million for Value & MT for Volume |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia; Oceania and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Europe, Germany, UK, France, Italy, Spain, BENELUX, Nordic, Russia, Poland, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Vietnam, Philippines, Singapore, Oceania, Australia, New Zealand, MEA, GCC Countries, Turkey, Egypt, South Africa. |
| Key Segments Covered | Product Type, Fat Type, End Use, Region, Sales |
| Key Companies Profiled | Stratas Foods; Bunge Loders Croklaan; Par-Way Tryson Co. Inc; Amoretti; Brolite Products Co., Inc.; Pakmaya; Mallet & Company, Inc; CHOCOVIC; S.A.U.; Georg Lemke GmbH & Co. KG; Abel & Schafer; Ruitenberg; Rice & Company, Inc.; Seven Seas Commodities (Pvt) Ltd.; Others |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
Throughout the forecast period, the Icing Shortening Market is expected to grow at a CAGR of 6.1%
By 2032, the Icing Shortening Market is expected to be worth USD 4,136.3 Million.
Currently, the USA is at the top of the market share with 33.8% of the global Icing Shortening Market. UK, Germany, and Japan are also growing at a steady CAGR.
Some of the key players in the Icing Shortening Market include Stratas Foods, Bunge Loders Croklaan, Par-Way Tryson Co. Inc, Amoretti, Brolite Products Co., Inc., Pakmaya, Mallet & Company, Inc, CHOCOVIC, S.A.U., Georg Lemke GmbH & Co. KG, Abel & Schafer amongst others.
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