What Is The Growth Forecast For The Global Shortenings Market?
Steadily growing over recent years, the shortenings market size is projected to increase from $4.41 billion in 2024 to $4.58 billion in 2025, at a compound annual growth rate (CAGR) of 4.0%. This growth during the historic period is primarily due to traditional culinary practices, the expansion of the bakery and confectionery industry, a surge in processed food consumption, an increase in fast-food consumption, a focus on extending shelf-life, and evolving consumer preferences for texture and mouthfeel.
Looking forward, the shortenings market size is anticipated to see consistent growth, reaching $5.42 billion by 2029 at a CAGR of 4.3%. This projected growth can be attributed to health-conscious consumer choices, clean label preferences, the rise of plant-based and specialty fats, an increase in gluten-free and allergen-free products, and the globalization of culinary preferences. Major trends shaping this forecast period include innovations in texture-enhancing ingredients, novelties in clean frying solutions, packaging advances for convenience, technological advancements in production, and increased collaborations and partnerships.
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How Is the Increasing Demand for Bakery Products Impacting the Shortenings Market?
With the bakery industry seeing consistent growth—especially in gourmet products due to changing food habits—the demand for shortenings has risen. Shortenings enhance the quality of bakery products by providing a crumbly and crisp texture and preventing the dish from becoming stretchy and elastic. Notably, in November 2022, according to Agriculture and Agri-Food Canada, there was an increase in global retail sales of baked goods from $407.2 billion in 2021 to $425.7 billion. Therefore, the escalating demand for these products will continue to drive the shortenings market.
What Are the Key Segments Within the Global Shortenings Market?
1) By Variant: Solid, Liquid, Cake Or Icing, All-Purpose
2) By Source: Vegetables, Animal
3) By Sales Channels: Direct Sales, Indirect Sales
4) By End User: HoReCa, Bakery, Confectionery, Processed Food, Household Retail
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Who Are the Major Players in the Shortenings Market?
Key companies operating in the shortenings market include Cargill Incorporated, Bunge Limited, Wilmar International Limited, Archer Daniels Midland Company, Ventura Foods LLC, AAK AB, Manildra Group, International Foodstuff Company Holdings Limited, Conagra Brands Inc., Stratas Foods LLC, Premium Vegetable Oils Sdn Bhd, Namchow Chemical Industrial Co. Ltd., Fuji Oil Co. Ltd., Kerry Group PLC, Upfield Holdings BV, NMGK Group, BRF SA, Yildiz Holding AS, Mallet & Company Inc., Palsgaard A/S, Walter Rau Neusser Öl und Fett AG, Puratos Group NV, Princes Limited, Zeelandia International BV, Olenex Sàrl, HAS Group, VFI GmbH, COFCO Group Co. Ltd., Fine Organics Limited.
What Are the Emerging Trends in the Shortenings Market?
Revolutionizing the shortenings market are companies developing new technological solutions such as Breeze AI, which enhances operational efficiency, improves product formulations, and gleans better customer insights through advanced data analytics. For instance, in September 2024, US-based software company, HubSpot, launched Breeze, an embedded AI platform designed to optimize customer interactions and workflows for marketing, sales, and service teams through intelligent automation and data-driven insights.
Which Region Dominates the Shortenings Market?
In 2024, North America was the largest region in the shortenings market. Other regions covered in the shortenings market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Shortenings Market Report 2025 Offer?
Shortening, a solid fat at room temperature, is used to give dishes like pastries a crumbly and crisp texture. It achieves this by coating the flour in fat, preventing it from absorbing water, which inhibits the production of gluten and keeps the dish from becoming stretchy and elastic. Our report on the Shortenings Market offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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