Market Overview:
The global specialty shortening market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for convenience foods and rising awareness about health and wellness. Based on type, the global specialty shortening market can be segmented into plant-based specialty shortening and animal-derived specialty shortening. Plant-based specialty shortenings are made from vegetable oils such as palm oil, sunflower oil, soybean oil, rapeseed oil, coconut oil, and olive oil. Animal-derived speciality shortenings are made from rendered animal fats such as lard and tallow. Among these two types of speciality shortenings, plant-based varieties are witnessing higher demand due to their health benefits over their animal counterparts. Based on application, the global specialty shortening market can be segmented into supermarket chains/hypermarkets; convenience stores; online stores; food service establishments (such as restaurants); industrial users (such as bakeries); and other end users (including home cooks). Supermarket chains/hypermarkets account for a major share of the overall application segment owing to rising consumer inclination towards convenient shopping options coupled with growing disposable incomes in developing countries across regions such as Asia Pacific and Latin America.
Product Definition:
A type of shortening that is made from a blend of oils, including tropical oils and vegetable oils. It is used in baking because it has a high melting point and a low smoke point. This means that it can be used in products that require a high temperature, such as cookies and pie crusts, without smoking or burning.
Plant-based Specialty Shortening:
Plant-based specialty shortening is a type of fat that is obtained from plants and used as a substitute for animal fats. Plant-based specialty shortening can be derived from various sources including soy, palm oil, sunflower oil, rapeseed oil and others. The major factor driving the growth of this market includes growing vegan population coupled with rising health consciousness among consumers across the globe.
Vegetable oils such as soybean.
Animal-derived Specialty Shortening:
Animal-derived specialty shortening is a product derived from the esterification of animal fat with polyols. It consists of medium chain triglycerides (MCT) and long chain triglycerides (LCT). MCTs are shorter and have less density than LCTs. They are used as food ingredients for manufacturing various products such as margarine, shortenings, ice creams, chocolates, etc.
Application Insights:
Supermarket held the largest market share of more than 60% in 2017. The application segment is expected to witness significant growth over the forecast period owing to rising demand for specialty margarine from supermarkets and hypermarkets across the globe. Specialty margarine, when compared with regular margarine, offers better texture and taste due to addition of different flavorings and ingredients such as herbs, vegetables extracts or essential oils.
The convenience store segment accounted for a considerable market share in 2017 owing to growing consumer preference for purchasing food products on-the-go. Shifting trend towards consumption of fast foods has increased the sales volumes of convenience stores globally which has positively influenced product demand at this end-use industry.
Regional Analysis:
North America was the largest market for specialty shortening with a share of more than 30.0% in 2017 owing to the high demand from U.S., which is one of the major producers of plant-based specialty shortenings and bio-based products in general. The region is characterized by increasing vegan population, which has led to an increase in demand for plant-derived products such as vegetable oil and palm oil, thus boosting product sales over the past few years.
Asia Pacific is expected to be one of fastest growing markets with a CAGR exceeding 6% during the forecast period on account of rising consumer awareness regarding health benefits associated with animal fat based shortening products such as improved spreadability, flavor stability, color retention properties etc., especially in developing countries including China and India will drive growth over next six years.
Growth Factors:
- Increasing demand for convenience foods: The growing trend of busy lifestyles has led to an increased demand for convenience foods. This is especially true in developed countries, where people are increasingly looking for products that can be easily prepared and consumed on the go. Specialty shortenings offer a number of benefits over traditional oils and fats, including superior taste, texture, and stability. They are thus well-suited for use in a wide range of convenience foods products.
- Rising popularity of specialty diets: A growing number of people are following specialty diets such as gluten-free or veganism due to health concerns or personal preferences. This has led to an increase in demand for specialty shortenings that meet the dietary needs of these consumers. For example, many vegan shortenings are made from plant-based ingredients rather than animal fats, making them suitable for use in vegan baked goods and other recipes.
Scope Of The Report
Report Attributes
Report Details
Report Title
Specialty Shortening Market Research Report
By Type
Plant-based Specialty Shortening, Animal-derived Specialty Shortening
By Application
Supermarket, Convenience Store, Online Store, Others
By Companies
Bunge, Cargill, ADM, Ventura Foods, Musim Mas Holdings, Sime Darby Kempas, Tate & Lyle
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Specialty Shortening Market Report Segments:
The global Specialty Shortening market is segmented on the basis of:
Types
Plant-based Specialty Shortening, Animal-derived Specialty 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
Supermarket, Convenience Store, Online Store, 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:
- Bunge
- Cargill
- ADM
- Ventura Foods
- Musim Mas Holdings
- Sime Darby Kempas
- Tate & Lyle
Highlights of The Specialty 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:
- Plant-based Specialty Shortening
- Animal-derived Specialty Shortening
- By Application:
- Supermarket
- Convenience Store
- Online Store
- 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 Specialty 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
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Specialty shortening is a type of fat that is specifically designed to be used in baking. It is made from oils and fats that have been processed to make them more stable and less likely to go rancid. This makes it a good choice for cookies, cakes, pies, and other baked goods.
Some of the key players operating in the specialty shortening market are Bunge, Cargill, ADM, Ventura Foods, Musim Mas Holdings, Sime Darby Kempas, Tate & Lyle.
The specialty shortening market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Specialty Shortening Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Specialty Shortening Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Specialty Shortening Market - Supply Chain
4.5. Global Specialty Shortening Market Forecast
4.5.1. Specialty Shortening Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Specialty Shortening Market Size (000 Units) and Y-o-Y Growth
4.5.3. Specialty Shortening Market Absolute $ Opportunity
5. Global Specialty Shortening Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Specialty Shortening Market Size and Volume Forecast by Type
5.3.1. Plant-based Specialty Shortening
5.3.2. Animal-derived Specialty Shortening
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Specialty Shortening Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Specialty Shortening Market Size and Volume Forecast by Application
6.3.1. Supermarket
6.3.2. Convenience Store
6.3.3. Online Store
6.3.4. Others
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Specialty Shortening Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Specialty Shortening Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Specialty Shortening Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Specialty Shortening Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Specialty Shortening Demand Share Forecast, 2019-2026
9. North America Specialty Shortening Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Specialty Shortening Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Specialty Shortening Market Size and Volume Forecast by Application
9.4.1. Supermarket
9.4.2. Convenience Store
9.4.3. Online Store
9.4.4. Others
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Specialty Shortening Market Size and Volume Forecast by Type
9.7.1. Plant-based Specialty Shortening
9.7.2. Animal-derived Specialty Shortening
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Specialty Shortening Demand Share Forecast, 2019-2026
10. Latin America Specialty Shortening Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Specialty Shortening Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Specialty Shortening Market Size and Volume Forecast by Application
10.4.1. Supermarket
10.4.2. Convenience Store
10.4.3. Online Store
10.4.4. Others
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Specialty Shortening Market Size and Volume Forecast by Type
10.7.1. Plant-based Specialty Shortening
10.7.2. Animal-derived Specialty Shortening
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Specialty Shortening Demand Share Forecast, 2019-2026
11. Europe Specialty Shortening Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Specialty Shortening Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Specialty Shortening Market Size and Volume Forecast by Application
11.4.1. Supermarket
11.4.2. Convenience Store
11.4.3. Online Store
11.4.4. Others
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Specialty Shortening Market Size and Volume Forecast by Type
11.7.1. Plant-based Specialty Shortening
11.7.2. Animal-derived Specialty Shortening
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Specialty Shortening Demand Share, 2019-2026
12. Asia Pacific Specialty Shortening Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Specialty Shortening Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Specialty Shortening Market Size and Volume Forecast by Application
12.4.1. Supermarket
12.4.2. Convenience Store
12.4.3. Online Store
12.4.4. Others
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Specialty Shortening Market Size and Volume Forecast by Type
12.7.1. Plant-based Specialty Shortening
12.7.2. Animal-derived Specialty Shortening
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Specialty Shortening Demand Share, 2019-2026
13. Middle East & Africa Specialty Shortening Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Specialty Shortening Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Specialty Shortening Market Size and Volume Forecast by Application
13.4.1. Supermarket
13.4.2. Convenience Store
13.4.3. Online Store
13.4.4. Others
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Specialty Shortening Market Size and Volume Forecast by Type
13.7.1. Plant-based Specialty Shortening
13.7.2. Animal-derived Specialty Shortening
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Specialty Shortening Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Specialty Shortening Market: Market Share Analysis
14.2. Specialty Shortening Distributors and Customers
14.3. Specialty Shortening Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Bunge
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Cargill
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. ADM
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Ventura Foods
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. Musim Mas Holdings
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Sime Darby Kempas
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Tate & Lyle
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
