Asia Pacific Shortenings Market

Asia Pacific Shortenings Market Value and Growth Rate:

The Asia Pacific Shortenings Market was worth US$ 669 million in 2022 and is anticipated to reach the valuation of US$ 847.3 million by 2027 and is predicted to grow at a CAGR of 5.9% during 2022-2027.

Asia Pacific Shortenings Market Scenario:

At room temperature, shortening is any solid fat used to make crumbly pastry and other culinary goods. Despite the fact that butter is solid at room temperature and is often used in baking, the term shortening is more closely associated with margarine than with butter.

Shortenings are an important ingredient in the kitchen. The fat market is thriving in the worldwide market as the food and beverage industry develops due to its relevance. Market expansion will be influenced in the coming years by the expanding popularity of bakery items on the worldwide market, as well as the inexpensive supply of fats. Shortenings are mostly used in the bread and confectionery industries. The expanding population of the Asia-Pacific region has led in higher per capita food consumption and, as a result, higher bakery and confectionery consumption in the region.

Asia Pacific Shortenings Market Drivers:

The expanding global demand for low-calorie products will create possible new opportunities for participants in the global shortening market to thrive in the coming years. The growing application base of cooking ingredients is fueling the worldwide shortening sector. Demand for bakery items has risen in recent years as a result of their expanding popularity, leading in market expansion around the world. Increased disposable money and a shift in people's lives are two further factors that will help the shortenings market growth. These factors are expected to contribute to the Shortenings market growth during the forecasted period.

Asia Pacific Shortenings Market Restraints:

The key raw material which is used in the production of shortening is fat which is sourced from plants or animals. It also contains trans-fats, which are dangerous because their excessive consumption can contribute to heart disease. According to a May 2018 article issued by the US Food and Drug Administration FDA on trans-fats, trans-fats are produced in food items by the process of hydrogenation of vegetable oil, which is a commonly used approach to make shortenings. Trans-fat consumption, according to the same source, elevates blood levels of low-density lipoproteins cholesterol, also known as bad cholesterol, because high levels of LDL cholesterol increase the risk of heart disease, which can lead to death. Over the projected period, this scenario is expected to limit the worldwide shortenings market's growth.

Recent Developments in the Asia Pacific Shortenings Market:

Cargill announced five new baked shortening choices in October 2016 as part of its wonderful product line. The new Regal Bakery Shortenings include Regal NH Icing Butter, Regal Cakes & Icing Butter, Regal Donut Fry Butter, Regal All-Purpose Butter, and Regal Puff Pastry Butter.

Asia Pacific Shortenings Market Segmentation: 

By Key Ingredient:

• Tallow

• Lard

• Butter

• Oil

The Shortenings market has been segmented by key ingredients into, tallow, lard, butter and oil. The oil category dominated the shortenings market because of its broad application in the production of a wide range of butter products and its greater availability, the oil category has the biggest market share. It is because of these reasons that we see the oil category of shortening key ingredients taking the bigger shortenings Market share.

By Source:

• Animal

• Vegetable

The Shortenings market has been segmented by source into, animal and vegetable. The vegetable category has the biggest market share based on the source because it is easier to extract than its counterpart and is also readily available. Another reason for its dominance over animal fats is that it may be utilised in vegetarian cookery, resulting in a higher level of usage. It is because of these reasons that we see the vegetable category of shortening source taking the bigger shortenings Market share.

By Application:

• Snacks & Savoury

• Confectionary

• Bakery

The Shortenings market has been segmented by application into, snacks & savoury, confectionary and bakery. The bakery application has the biggest market share. The bakery items division accounted for the majority of the market. Consumer demand for trans-fat-free products has increased demand for shortening products made utilising innovative techniques.It is because of these reasons we see the bakery category of shortening application taking the bigger shortenings market share.

By Variants:

• Cake/Icing

• All-Purpose

• Liquid

• Solid

The Shortenings market has been segmented by variants into, cake/icing, all-purpose, liquid, solid and others. The solid variant leads the market based on variants. In 2016, the solid division led the market, while the flexible division, followed by the cake/icing segment, is expected to develop at the fastest rate. Shortenings are important for all uses due to their adaptability and multifunctional qualities. This versatility allows them to integrate well with other ingredients, giving cakes, cookies, crackers, crusts, and cakes a rich and consistent flavour and texture. It is because of these reasons we see the solid variant of shortenings taking the bigger shortenings market share.

Asia Pacific Shortenings Market Regional Analysis: 

The Asia Pacific Shortenings Market Report includes a segmentation of the following countries:

1. India

2. China

3. Japan

4. Australia

5. Vietnam

6. New Zealand

7. South Korea

8. Thailand

9. Malaysia

10. Philipines

11. Indonesia

12. Rest of APAC

During the forecasted period between 2022-2027, the Asia Pacific region dominated the shortenings market. In 2016, the Asia-Pacific region dominated the global market, accounting for the biggest share in terms of both value and volume.

India, China, Malaysia, and Indonesia are among the developing economies in the Asia-Pacific area. In 2018, Asia Pacific had the greatest revenue share in the worldwide shortenings market, and this trend is expected to continue over the forecast period. Over the projected period, the expanding confectionary market in Asia Pacific is expected to drive demand for shortening.

Singapore gained US$ 374.9 million in income from chocolate exports in 2017, according to the International Trade Center, followed by China and Malaysia with US$ 325.6 million and US$ 236 million, respectively. The market in this area is predicted to grow rapidly in the future due to population expansion and improvements in consumer purchasing power in developing nations such as China and India. Consumers' eating habits in this region have changed, resulting in an increase in the consumption of bakery items and snacks. These factors are driving the Asia-Pacific shortenings market growth.

Asia Pacific Shortenings Market Key Players:

1. Cargill, Incorporated

2. Archer Daniels Midland Company

3. Bunge Limited

4. Wilmar International Ltd.

5. Ventura Foods

6. Associated British Foods

7. AAK

8. J. M. Smucker Company.

9. Manildra Group

10. Conagra brands