Vegetable Shortenings Market Growth Report and Size by 2031
The Vegetable Shortenings Market is expected to register a CAGR of 5.5% from 2024 to 2031, with a market size expanding from US$ XX million in 2024 to US$ XX Million by 2031.
The report is segmented by form (dry, liquid). The report further presents analysis based on application (bakery and confectionery, sweet and savory snacks, and others). The global analysis is further broken-down at regional level and major countries. In terms of geography, the market is divided into North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America). The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Vegetable Shortenings Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Vegetable Shortenings Market Segmentation
Form- Dry
- Liquid
- Bakery and Confectionery
- Sweet and Savory Snacks
- Others
Strategic Insights
Vegetable Shortenings Market Growth Drivers- Rising Demand for Processed and Packaged Foods: Since consumers have an increasing tendency to prefer ready convenience foods, so the demand for vegetable shortening is increasing. It is a common ingredient found in baking, snacks, or other processed foods for the sake of improvement in texture, stability, and other efficiencies in shelf life.
- Healthier Alternative to Animal Fat: Increasing health and wellness consciousness has made vegetable shortening popular as an alternative to animal fat. This kind of consumer prefers it as a vegetable, trans-free option for the reduction of cholesterol and saturated fat.
- Bakery and Confectionery Growth: The demand for vegetable shortening is established by the global expanding bakery and confectionery industries. This is because it is being effectively used to produce various baked foods such as pastries, cakes, and cookies where a light texture that is flaky is desired, all in the face of growing consumer preference toward quality baked products.
- Trans-fat-free Shifted Products: Indeed, with the rise of the health-conscious culture, vegetable shortening is more inclined to the absence of trans fatty acids in the product formulation to support the demand for healthier and heart-friendly alternatives, knocking on the door for clean-label products.
- Applications in Plant-Based and Vegan Products: The scope of vegetable shortening keeps increasing with the rising trend toward plant-based diets. It is indeed an important ingredient in making vegan and dairy-free products because it can create a versatile solution in a non-animal-fat alternative and really fulfill the demand for plant-based alternatives found in baked goods, pastries, and snacks.
- Sustainability and Eco-Friendly Sourcing: Today, environmental consciousness has made the trend toward sourcing vegetable shortening from plants that are sustainably farmed. This has made almost everyone in the community pay attention to the eco-friendly sourcing and production method through which the shortening is produced to secure fewer environmental impacts.
- Expansion in Health-Conscious Segments: There are different segments related to healthy consumption and growing demand for healthy fats, which leave an assortment of opportunities for brands trying to make low-trans-fat and non-hydrogenated forms of vegetable shortening. The end consumers are typically health-conscious, and the two major sectors influenced by this demand are bakery and snack, through which the two markets clean up their fat
- Plant-based and Vegan Food Growth: Plant-based eating would be the perfect way of very interesting opportunities for vegetable shortening manufacturers to expand their markets and thus introduce their different shortenings into plant-based baked goods, pastries, and so on, thereby serving a growing number of vegans.
- Development of Novel Products: One such opportunity is innovating vegetable shortening using several functional ingredients such as omega-3 fatty acids or antioxidants. This would meet the emerging consumer demands for fortification and nutrient-rich food products, enhancing the appeal of vegetable shortening for health-oriented applications.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Vegetable Shortenings Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Vegetable Shortenings Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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Frequently Asked Questions
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Al-Khaleej Industries Sdn Bhd., Archer Daniels Midland Company, Associated British Foods plc, Bunge North America, Inc., IFFCO, Manildra Group, Ruchi Soya, THE J.M. SMUCKER COMPANY, Wilmar International Ltd, Cargill, Incorporated are among the leading players operating in the vegetable shortenings market.
The growing awareness about health and nutrition and strategic development initiatives by key market players is driving the vegetable shortenings market growth.
Based on geography, Europe held the largest share of the vegetable shortenings market.
The incorporation of functional ingredients in vegetable shortenings are likely to remain the key trends in the market.
The Vegetable Shortenings Market is estimated to witness a CAGR of 5.5% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Vegetable Shortenings Market - By Form
1.3.2 Vegetable Shortenings Market - By Application
1.3.3 Vegetable Shortenings Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. VEGETABLE SHORTENINGS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. VEGETABLE SHORTENINGS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. VEGETABLE SHORTENINGS MARKET - GLOBAL MARKET ANALYSIS
6.1. VEGETABLE SHORTENINGS - GLOBAL MARKET OVERVIEW
6.2. VEGETABLE SHORTENINGS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. VEGETABLE SHORTENINGS MARKET - REVENUE AND FORECASTS TO 2028 - FORM
7.1. OVERVIEW
7.2. FORM MARKET FORECASTS AND ANALYSIS
7.3. DRY
7.3.1. Overview
7.3.2. Dry Market Forecast and Analysis
7.4. LIQUID
7.4.1. Overview
7.4.2. Liquid Market Forecast and Analysis
8. VEGETABLE SHORTENINGS MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. BAKERY AND CONFECTIONERY
8.3.1. Overview
8.3.2. Bakery and Confectionery Market Forecast and Analysis
8.4. SWEET AND SAVORY SNACKS
8.4.1. Overview
8.4.2. Sweet and Savory Snacks Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. VEGETABLE SHORTENINGS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Vegetable Shortenings Market Overview
9.1.2 North America Vegetable Shortenings Market Forecasts and Analysis
9.1.3 North America Vegetable Shortenings Market Forecasts and Analysis - By Form
9.1.4 North America Vegetable Shortenings Market Forecasts and Analysis - By Application
9.1.5 North America Vegetable Shortenings Market Forecasts and Analysis - By Countries
9.1.5.1 United States Vegetable Shortenings Market
9.1.5.1.1 United States Vegetable Shortenings Market by Form
9.1.5.1.2 United States Vegetable Shortenings Market by Application
9.1.5.2 Canada Vegetable Shortenings Market
9.1.5.2.1 Canada Vegetable Shortenings Market by Form
9.1.5.2.2 Canada Vegetable Shortenings Market by Application
9.1.5.3 Mexico Vegetable Shortenings Market
9.1.5.3.1 Mexico Vegetable Shortenings Market by Form
9.1.5.3.2 Mexico Vegetable Shortenings Market by Application
9.2. EUROPE
9.2.1 Europe Vegetable Shortenings Market Overview
9.2.2 Europe Vegetable Shortenings Market Forecasts and Analysis
9.2.3 Europe Vegetable Shortenings Market Forecasts and Analysis - By Form
9.2.4 Europe Vegetable Shortenings Market Forecasts and Analysis - By Application
9.2.5 Europe Vegetable Shortenings Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Vegetable Shortenings Market
9.2.5.1.1 Germany Vegetable Shortenings Market by Form
9.2.5.1.2 Germany Vegetable Shortenings Market by Application
9.2.5.2 France Vegetable Shortenings Market
9.2.5.2.1 France Vegetable Shortenings Market by Form
9.2.5.2.2 France Vegetable Shortenings Market by Application
9.2.5.3 Italy Vegetable Shortenings Market
9.2.5.3.1 Italy Vegetable Shortenings Market by Form
9.2.5.3.2 Italy Vegetable Shortenings Market by Application
9.2.5.4 United Kingdom Vegetable Shortenings Market
9.2.5.4.1 United Kingdom Vegetable Shortenings Market by Form
9.2.5.4.2 United Kingdom Vegetable Shortenings Market by Application
9.2.5.5 Russia Vegetable Shortenings Market
9.2.5.5.1 Russia Vegetable Shortenings Market by Form
9.2.5.5.2 Russia Vegetable Shortenings Market by Application
9.2.5.6 Rest of Europe Vegetable Shortenings Market
9.2.5.6.1 Rest of Europe Vegetable Shortenings Market by Form
9.2.5.6.2 Rest of Europe Vegetable Shortenings Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Vegetable Shortenings Market Overview
9.3.2 Asia-Pacific Vegetable Shortenings Market Forecasts and Analysis
9.3.3 Asia-Pacific Vegetable Shortenings Market Forecasts and Analysis - By Form
9.3.4 Asia-Pacific Vegetable Shortenings Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Vegetable Shortenings Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Vegetable Shortenings Market
9.3.5.1.1 Australia Vegetable Shortenings Market by Form
9.3.5.1.2 Australia Vegetable Shortenings Market by Application
9.3.5.2 China Vegetable Shortenings Market
9.3.5.2.1 China Vegetable Shortenings Market by Form
9.3.5.2.2 China Vegetable Shortenings Market by Application
9.3.5.3 India Vegetable Shortenings Market
9.3.5.3.1 India Vegetable Shortenings Market by Form
9.3.5.3.2 India Vegetable Shortenings Market by Application
9.3.5.4 Japan Vegetable Shortenings Market
9.3.5.4.1 Japan Vegetable Shortenings Market by Form
9.3.5.4.2 Japan Vegetable Shortenings Market by Application
9.3.5.5 South Korea Vegetable Shortenings Market
9.3.5.5.1 South Korea Vegetable Shortenings Market by Form
9.3.5.5.2 South Korea Vegetable Shortenings Market by Application
9.3.5.6 Rest of Asia-Pacific Vegetable Shortenings Market
9.3.5.6.1 Rest of Asia-Pacific Vegetable Shortenings Market by Form
9.3.5.6.2 Rest of Asia-Pacific Vegetable Shortenings Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Vegetable Shortenings Market Overview
9.4.2 Middle East and Africa Vegetable Shortenings Market Forecasts and Analysis
9.4.3 Middle East and Africa Vegetable Shortenings Market Forecasts and Analysis - By Form
9.4.4 Middle East and Africa Vegetable Shortenings Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Vegetable Shortenings Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Vegetable Shortenings Market
9.4.5.1.1 South Africa Vegetable Shortenings Market by Form
9.4.5.1.2 South Africa Vegetable Shortenings Market by Application
9.4.5.2 Saudi Arabia Vegetable Shortenings Market
9.4.5.2.1 Saudi Arabia Vegetable Shortenings Market by Form
9.4.5.2.2 Saudi Arabia Vegetable Shortenings Market by Application
9.4.5.3 U.A.E Vegetable Shortenings Market
9.4.5.3.1 U.A.E Vegetable Shortenings Market by Form
9.4.5.3.2 U.A.E Vegetable Shortenings Market by Application
9.4.5.4 Rest of Middle East and Africa Vegetable Shortenings Market
9.4.5.4.1 Rest of Middle East and Africa Vegetable Shortenings Market by Form
9.4.5.4.2 Rest of Middle East and Africa Vegetable Shortenings Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Vegetable Shortenings Market Overview
9.5.2 South and Central America Vegetable Shortenings Market Forecasts and Analysis
9.5.3 South and Central America Vegetable Shortenings Market Forecasts and Analysis - By Form
9.5.4 South and Central America Vegetable Shortenings Market Forecasts and Analysis - By Application
9.5.5 South and Central America Vegetable Shortenings Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Vegetable Shortenings Market
9.5.5.1.1 Brazil Vegetable Shortenings Market by Form
9.5.5.1.2 Brazil Vegetable Shortenings Market by Application
9.5.5.2 Argentina Vegetable Shortenings Market
9.5.5.2.1 Argentina Vegetable Shortenings Market by Form
9.5.5.2.2 Argentina Vegetable Shortenings Market by Application
9.5.5.3 Rest of South and Central America Vegetable Shortenings Market
9.5.5.3.1 Rest of South and Central America Vegetable Shortenings Market by Form
9.5.5.3.2 Rest of South and Central America Vegetable Shortenings Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. VEGETABLE SHORTENINGS MARKET, KEY COMPANY PROFILES
11.1. AL-KHALEEJ INDUSTRIES SDN BHD.
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ARCHER DANIELS MIDLAND COMPANY
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ASSOCIATED BRITISH FOODS PLC
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. BUNGE NORTH AMERICA, INC.
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. IFFCO
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. MANILDRA GROUP
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. RUCHI SOYA
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. THE J.M. SMUCKER COMPANY
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. WILMAR INTERNATIONAL LTD
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. CARGILL, INCORPORATED
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Al-Khaleej Industries Sdn Bhd.
2. Archer Daniels Midland Company
3. Associated British Foods plc
4. Bunge North America, Inc.
5. IFFCO
6. Manildra Group
7. Ruchi Soya
8. THE J.M. SMUCKER COMPANY
9. Wilmar International Ltd
10. Cargill, Incorporated
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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