North America Shortenings Market

North America Shortenings Market Size Share Analysis:

North America Shortenings Market was worth USD 1.43 billion in 2021 and estimated to be growing at a CAGR of 5.03%, to reach USD 1.82 billion by 2026. Shortening can be defined as fats which are solid at room temperature. They are normally used in making pastries and other foods. Shortening is utilized in pastries which should not be elastic, like cake. Though butter is solid at room temperatures and frequently used in pastry making, the word "shortening" rarely refers to butter, but to margarine.

Originally shortening referred to lard, but the discovery of margarine included it as well to the term. The water content in them is less, hence they can be fried easily without the fear of splattering. As shortenings need not be refrigerated and cheap to produce, they gained popularity in the recent times as food production became increasingly industrialized.

North America Shortenings Market Drivers:

The North America Shortenings market is driven by factors like their favourable functioning properties, rising convenience food sector, increasing usage of shortenings in bakery and confectionary foods among others. However, the market is constrained by factors like the risk of adverse health effects from it.

REPORT COVERAGE:

North America Shortenings Market Segmentation:

The North America Shortenings market is divided on the basis of source into vegetable and animal segments. Vegetable has the largest share in the above segment. On the basis of variant, the market is divided into cake/icing, solid, liquid, all-purpose and others. Based on application the market is divided into confectionary products, bakery products, snacks and savoury products and others. By key ingredient, the market is categorized into butter, oil, tallow, lard and others. Oil holds the largest share in the segment.

Regional Presence of the North America Shortenings Market:

Geographically the North America Shortenings Market is segmented into US, Canada, Mexico and Rest of North America.

The North America Shortenings market is divided based on geography into United States, Canada and Mexico. North America has the largest market for shortenings in the world. Within North America, United States is expected to have the largest share. Factors such as rising convenience food sector and usage of shortenings in bakery and confectioneries is expected to drive the market in the region.

Leading Major Players:

Some of the major players in the market include Cargill, Bunge Limited, Conagra Brands,  Wilmar International Limited, Archer Daniels Midland Company,  International Foodstuff Company Holdings Limited (IFFCO), Ventura Foods, LLC,  Manildra Group and AAK AB.