Shortening is an edible fat derived from animal fat or vegetable oil. It is primarily deployed to enhance the eating qualities of the end product. Myriad of shortenings are available in the market. They primarily vary in terms of flavor, origin, and consistency. — Shortening finds its widespread application in frying and production of confectionery and bakery products. Oil and fat are said to be the key raw materials of shortening. The Food and Drug Administration (FDA) declared that the trans fats are no longer "generally recognized as safe" owing to the health risks associated with them. This scenario has urged most of the food companies to reformulate their products as trans-fat-free. Taking into account the growth of the global shortening market, QYR Consulting has lately published a new report titled, “Global Shortening Market Report, History and Forecast 2014 - 2025.”According to the report, the global shortening market was US$ 1520 mn in 2018 and is expected to reach US$ 1636 mn by the end of 2025. The global shortening market is predicted to exhibit a sluggish CAGR of 0.88% during the forecast period of 6 years, i.e. between 2019 and 2025.
Baking Application to Lead the Market
Based on application, the shortening market is segmented as banking, frying, confectionery and pastry, and others. The baking application segment is anticipated to witness significant growth in the coming years owing to widespread usage of shortenings in various baked products to acquire the desired texture, volume, as well as freshness. The global shortening market is segregated on the basis of product as all-purpose shortening, emulsified shortening, and high stability shortening. The report includes the detailed analysis of the products owing to their widening scope of application in various end-use sectors.
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Asia Pacific to Open Up Growth Opportunities for the Market Growth
Surge in the production and consumption of flour products in emerging economies, such as India and China, and improved purchasing power of consumers may offer growth opportunities for the market players in Asia Pacific. Regulations by the government on cutting the trans-fat consumption and downgrading of PHOs by the FDA are affecting the market growth in North America. However, augmented consumption of convenience food in the region may keep the market growth steady. The global shortening market in Europe is expected to witness a decline owing to the ban on shortening usage and decreasing imports from the region.
Key players operating in the global shortening market include Olenex, Princes Group, Walter Rau, Yildiz Holding, AAK, Zeelandia, Puratos, HAS Group, ADM, and VFI GmbH.
Reduction in the Consumption to Curb the Market Growth
The consumption rate of shortening has been witnessing a decline across the globe since last few years. Moreover, the usage of shortening has been banned in regions, particularly Europe, which is, in turn, reducing the demand for shortening across the globe.
Fluctuation in the prices of shortening is expected to affect the market growth in the near future. Shortening is not natural and its high trans-fat content can have a negative impact on health. Consumers are becoming aware of the health disadvantages associated with the consumption of shortening, thereby reducing the product demand. In addition, shortening cannot be compared with the flavor of the butter even after modification. Lack of water in shortening results in a more crumbly texture, thereby reducing its demand among the consumers.
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