North America Shortening Market

North America Shortening Market Overview:

North America Shortening market is expected to develop up to US $ 1.82 billion by 2026, with an annual growth rate of about 5% in the following years.

Shortening is the fat made from animals, vegetables, oils, etc., which are used in cooking & baking products. They have a wide range of expansion in the food sector.  Shortening is made from full or partial sources of vegetables. In vegetables, such as soya-bean, sunflower, maize, the oil is extracted. It will be more preferred in vegan consumers. Because of the taste, the shortening market raises its growth in the food industry.

The oil segment held the most substantial share in the overall market as a raw material in the making of various shortening products like snacks and wider availability. The key ingredients in shortening market are oil, butter, lard etc. These are used in bakery products for making bread, cakes, pastries, etc.

REPORT COVERAGE:

Recent Development:

1. In 2019, Cargill's developed the new palm oil shortening for bakers it will give benefits, it will reduce the brittleness across the wider temperature range, it also in solve the issue of transportation of outdoor customers.

2. In 2018, Cargill made an investment of USD 17.5 million in Izegem edible vegetable oil refinery to improve the safety & nutrition in foods. The new technology improves the safety standard & nutrition regulation.

Drivers:

The North American shortening market is driven by excess demand among the confectionery products & bakery products. It will increase the manufacturing in the global market. The growth of confectionery market is only because of quality, appearance, high melting point and nutrition. It will attract the consumers towards shortening business and became more popular as per the low fats and trans fats are used in confectionery.

Restraint:

In shortening market, animal fats are included, and due to animal fats, it is considered as unhealthy during the processing. The polyunsaturated oil fats get lost that will hamper the growth in the functional food market. Consumers didn't buy the products and this may effect on production as well as manufacturing industry. Consumption of trans fatty acids increased the risk of cardiovascular diseases and cancer. The awareness about negative health effects of trans fats on the confectionery ingredient industry impedes development in the global shortening market.

Market Segmentation:

Market segmentation of shortening market is based on sources, which include vegetable & animal. The vegetable shortening is from soya-bean, palm, coconut, groundnut, sunflower and some other sources such as cotton. The shortening market is dominated by vegetables sources due to the rise in the awareness about health products & fat-free vegetables shortening in consumers.

Based on application, the market has been divided into bakery products, confectionery products, snacks, ice cream & others. Bakery products have huge demand in every country only because of volume, texture, taste, freshness, flavors, consistency, and the cost. The bakery products segment is also touted to be supporting this market share boom during the calculated period. The changes in consumer preference towards fat-free products lead towards growth in this market.

Based on claim, the market is segmented in organic, non -organic, kosher, vegan and gluten-free. In the market growing the trend of healthy natural food and most of the people prefer the vegan products for consumption globally.

Based on shortening type, it is mainly classified in two types, namely emulsified shortening and high stability shortening. Emulsified shortening has large volume & value in North America. Emulsified shortening is used to hold the water and oil. Emulsified shortening helps to reduce the moisture from products for longer time. It has more capacity for absorption of liquids & sugar than any other shortenings.

Geographical overview & regional analysis

North America is a leading player in shortening market. In North America region, U.S. and Canada countries are contributing major share. North America is the large scale supplier of soya-bean oil, and specificity fats (animal) and oils. In North America, various contributors have the value chain in shortening market. In U.S., suppliers, manufacturer, distributors, oilseed growers increase the shortening market.

Competitors Strategies in the market:

Food and confectionery industry competitors develop new products in the market to attract the customers as well as a large organization. The growth as per customers demand will boost the local market growth. Investment in shortening market with acquisitions and innovation in new products are the trends in the marketplace. The key players in this market make a contract or agreement directly with oilseed grower, to get natural shortening, by this strategy customers attract to natural source.

Major players in the marketplace:

Cargill, Inc., Archer Daniels Midland Company, Wilmar International Limited, Bunge Limited, ConAgra Brands, Ventura Foods, J.M.Smucker Company, Nutiva Inc., and NMGK Group Company.