Market Overview:
The global icing shortening market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for bakery products, especially in developing countries. In addition, the growing awareness about healthy eating habits has led to an increase in the demand for plant-based icing shortening, which is healthier than animal-based icing shortening. Based on type, the global icing shortening market can be segmented into animal fat icing shortening and plant based fat icing shortening. Animal fat based icings are generally used in North America and Europe due to their taste and texture preferences; however, plant-based fats are gaining popularity due to their health benefits. The plant-based segment is expected to grow at a higher CAGR during the forecast period as consumers become more aware of the health benefits of these products.
Product Definition:
Icing shortening is a type of vegetable shortening that is specifically used in baking. It has a high melting point, which makes it ideal for cakes and other desserts that require a light and fluffy texture. Icing shortening also helps to prevent the formation of sugar crystals, which can give baked goods a gritty texture.
Animal Fat Icing Shortening:
Animal fat icing shortening is a mixture of fats and powdered sugar which is used as an icing agent in ice creams, cakes, etc. It increases the volume and helps in spreading the icing smoothly on the product. The growth factor for this market is its usage by many fast food joints such as McDonald's to add an attractive look to their products along with taste.
Plant Based Fat Icing Shortening:
Plant based fat icing shortening is a non-dairy product, which is obtained from the combination of vegetable oil and powdered sugar. It has high demand in the food industry as an alternative to conventional animal fats such as lard. The product was first manufactured in Europe and was called “vegetable fat” or “virgin margarine”.
Application Insights:
Bread emerged as the largest application segment and accounted for over 50.0% share of the overall revenue in 2017. The product is widely used in bread making process due to its ability to create a smooth texture and enhance taste. Icing shortening is also added during pre- fermentation stage of bread making as it helps maintain the freshness of finished products by preventing mold growth on top of them.
Cake was the second largest application segment accounting for around 24% share in 2017 owing to rising demand from bakery product manufacturers across regions including North America, Europe, Asia Pacific and Middle East & Africa.
Regional Analysis:
North America was the largest market for global icing shortening, accounting for more than 35.0% of the total revenue in 2017. The U.S., which is one of the most important markets in North America owing to high consumption levels, will continue to be a key consumer due to its large bakery industry and increasing demand from fast-food outlets and catering companies across various industries will also drive regional growth over the forecast period.
Asia Pacific is expected to be one of the fastest growing regions with a CAGR exceeding 5.0% from 2018 to 2030 owing herculean efforts by major players such as Jain Irrigations (India) Ltd., Modern Foods Ltd.
Growth Factors:
- Increasing demand for convenience foods: The growing trend of busy lifestyles has led to an increased demand for convenient foods that can be easily prepared. Icing shortening is a convenient ingredient that can be used to prepare a variety of food items quickly and easily.
- Rising popularity of bakery items: Bakery items are becoming increasingly popular, with consumers looking for new and innovative flavors and textures. Icing shortening is an important ingredient in many bakery items, making it a key growth driver for the market.
- Growing demand from emerging markets: Emerging markets such as India and China are experiencing high economic growth rates, which is resulting in rising disposable incomes and increasing consumer spending on food products. This is driving the demand for icing shortening in these regions.
Scope Of The Report
Report Attributes
Report Details
Report Title
Icing Shortening Market Research Report
By Type
Animal Fat Icing Shortening, Plant Based Fat Icing Shortening
By Application
Bread, Cake, Biscuits, Others
By Companies
ADM, Bunge, Par-Way Tryson, Amoretti, Brolite Products, Pakmaya, Barry Callebaut
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
197
Number of Tables & Figures
138
Customization Available
Yes, the report can be customized as per your need.
Global Icing Shortening Market Report Segments:
The global Icing Shortening market is segmented on the basis of:
Types
Animal Fat Icing Shortening, Plant Based Fat Icing Shortening
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Bread, Cake, Biscuits, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ADM
- Bunge
- Par-Way Tryson
- Amoretti
- Brolite Products
- Pakmaya
- Barry Callebaut
Highlights of The Icing Shortening Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Animal Fat Icing Shortening
- Plant Based Fat Icing Shortening
- By Application:
- Bread
- Cake
- Biscuits
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Icing Shortening Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Icing shortening is a type of fat that is used in baking to make cakes, cookies, and other pastries more moist. It is made from vegetable oil and water.
Some of the major players in the icing shortening market are ADM, Bunge, Par-Way Tryson, Amoretti, Brolite Products, Pakmaya, Barry Callebaut.
The icing shortening market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Icing Shortening Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Icing Shortening Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Icing Shortening Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Icing Shortening Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Icing Shortening Market Size & Forecast, 2020-2028 4.5.1 Icing Shortening Market Size and Y-o-Y Growth 4.5.2 Icing Shortening Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Animal Fat Icing Shortening
5.2.2 Plant Based Fat Icing Shortening
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Bread
6.2.2 Cake
6.2.3 Biscuits
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Icing Shortening Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Icing Shortening Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Animal Fat Icing Shortening
9.6.2 Plant Based Fat Icing Shortening
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Bread
9.10.2 Cake
9.10.3 Biscuits
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Animal Fat Icing Shortening
10.6.2 Plant Based Fat Icing Shortening
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Bread
10.10.2 Cake
10.10.3 Biscuits
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Animal Fat Icing Shortening
11.6.2 Plant Based Fat Icing Shortening
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Bread
11.10.2 Cake
11.10.3 Biscuits
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Animal Fat Icing Shortening
12.6.2 Plant Based Fat Icing Shortening
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Bread
12.10.2 Cake
12.10.3 Biscuits
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Animal Fat Icing Shortening
13.6.2 Plant Based Fat Icing Shortening
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Bread
13.10.2 Cake
13.10.3 Biscuits
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Icing Shortening Market: Competitive Dashboard
14.2 Global Icing Shortening Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ADM
14.3.2 Bunge
14.3.3 Par-Way Tryson
14.3.4 Amoretti
14.3.5 Brolite Products
14.3.6 Pakmaya
14.3.7 Barry Callebaut