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 |
|
| Regions Covered |
|
| Key Countries Profiled |
|
| Key Companies Profiled |
|
| 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
