Shortenings Market by Key Ingredient (Oil, Butter, Lard, Tallow), Source (Vegetable, Animal), Variant (Solid, Liquid, All-purpose, Cake/Icing), Application (Bakery, Confectionery, Snacks & Savory), and Region - Global Forecast to 2022

“Shortenings market is projected to grow at a CAGR of 4.2%”
The shortenings market is projected to grow at a CAGR of 4.2% from 2017 and reach USD 4.57 billion by 2022. The demand for shortenings is projected to grow, owing to the developments in industries such as bakery, confectionery, and snacks & savory, and the growth in demand for convenience food products in the Asia-Pacific region drives the shortenings market.
“Oil segment, by key ingredient, is projected to be the fastest-growing”
Vegetable oil such as palm oil is widely grown in most Asia-Pacific countries and it is also the most economic source of oil to manufacture shortenings at a global level. The oil segment, by key ingredient, is projected to grow at the highest CAGR from 2017 to 2022, in terms of value. Oil is extensively used for manufacturing wide range of shortenings such as cake shortenings, all-purpose shortenings, and solid shortenings due to its availability and low cost. Asia being the center for the production and consumption trends for the global shortenings market, oil, particularly palm oil, in Asia is estimated to be the key driver in the future, with a prime focus on convenience foods in China and India.
“Asia-Pacific is projected to be the fastest-growing region in the market.”
The Asia-Pacific region accounted for the largest share, in terms of both value and volume, in the global shortenings market, in 2016. The industrial applications and technologies involved in oil processing are changing rapidly in the Asia-Pacific countries, especially the sub-continent. This region comprises developing economies such as China and India, which are the largest consumers of fats & oils in the world, and Indonesia and Malaysia, which are the largest producers of palm oil.
Break-up of primaries:
 By Company Type: Tier 1 – 50 %, Tier 2 – 22%, and Tier 3 – 28%
 By Designation: C level – 28%, Director level – 22%, and Others – 50%
 By Region: North America - 59%, Asia-Pacific – 22%, Europe – 11%, and RoW – 08%

The market is dominated by key players such as Archer Daniels Midland Company (U.S.), Cargill (U.S.), AAK AB (Sweden), Wilmar International Limited (Singapore), and Bunge Limited (U.S.). Other players in this segment include Manildra Group (Australia), Associated British Foods (U.K.), Ventura Foods, LLC (U.S.), ConAgra Brands (U.S.), and International Foodstuff Company Holdings Limited (UAE)
Research Coverage:
The report provides an analysis on the shortenings market across different industry verticals and regions. It aims at estimating the market size and future growth potential of this market across different segments such key ingredient, source, variant, application, and regions. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, SWOT analysis, recent developments, and key market strategies.

Key Benefits of Buying the Report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall shortenings market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.

TABLE OF CONTENTS

1 INTRODUCTION 14
1.1 OBJECTIVES OF THE STUDY 14
1.2 MARKET DEFINITION 14
1.3 STUDY SCOPE 15
1.3.1 GEOGRAPHIC SCOPE 16
1.4 PERIODIZATION CONSIDERED 16
1.5 CURRENCY 17
1.6 UNIT 17
1.7 STAKEHOLDERS 17
1.8 LIMITATIONS 18
2 RESEARCH METHODOLOGY 19
2.1 RESEARCH DATA 19
2.1.1 SECONDARY DATA 20
2.1.1.1 Key data from secondary sources 20
2.1.2 PRIMARY DATA 21
2.1.2.1 Key data from primary sources 21
2.1.2.2 Breakdown of primaries by company type, designation & region 22
2.2 MARKET SIZE ESTIMATION 23
2.3 MARKET BREAKDOWN & DATA TRIANGULATION 25
2.4 RESEARCH ASSUMPTIONS 26
2.5 MACROECONOMIC INDICATORS 27
2.5.1 DEVELOPING ECONOMIES WITH EMERGING MIDDLE-INCOME POPULATION AND INCREASING PER CAPITA INCOME & CONSUMPTION 27
3 EXECUTIVE SUMMARY 31
4 PREMIUM INSIGHTS 35
4.1 GLOBAL OVERVIEW OF THE SHORTENINGS MARKET 35
4.2 KEY SHORTENING MARKETS 36
4.3 SHORTENINGS MARKET, BY KEY INGREDIENT 38
4.4 ASIA-PACIFIC DOMINATED THE MARKET FOR SHORTENINGS 39
4.5 SHORTENINGS IN THE FOOD & BEVERAGES MARKET, BY SUBSEGMENT 40
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5 MARKET OVERVIEW 41
5.1 INTRODUCTION 41
5.2 MARKET SEGMENTATION 42
5.3 MARKET DYNAMICS 43
5.3.1 DRIVERS 44
5.3.1.1 Rise in demand for shortenings in bakery products due to increasing demand for baked foods 44
5.3.1.1.1 Changing lifestyles causing rise in demand for bakery products 44
5.3.1.1.2 Rise in demand for shortenings in bakery products 45
5.3.2 RESTRAINTS 45
5.3.2.1 Health concerns related to excessive consumption of fats & oils 45
5.3.3 OPPORTUNITIES 45
5.3.3.1 Demand for low-calorie products from consumers 45
5.3.3.2 Emerging applications of baking ingredients 45
5.3.4 CHALLENGES 46
5.3.4.1 Increase in usage of substitutes for shortenings 46
5.3.4.2 Demand for clean label products from consumers 46
6 INDUSTRY TRENDS 47
6.1 INTRODUCTION 47
6.2 VALUE CHAIN ANALYSIS 47
6.2.1 INTERNATIONAL PATENTS FOR SHORTENINGS 49
7 SHORTENINGS MARKET, BY SOURCE 53
7.1 INTRODUCTION 54
7.2 VEGETABLE SHORTENINGS 55
7.3 ANIMAL SHORTENINGS 56
8 SHORTENINGS MARKET, BY KEY INGREDIENT 58
8.1 INTRODUCTION 59
8.2 OIL 60
8.3 BUTTER 62
8.4 LARD 63
8.5 TALLOW 64
8.6 OTHERS 65
9 SHORTENINGS MARKET, BY VARIANT 67
9.1 INTRODUCTION 68
9.2 SOLID SHORTENING 70
9.3 LIQUID SHORTENING 71
9.4 CAKE/ICING SHORTENING 71
9.5 ALL-PURPOSE SHORTENING 72
9.6 OTHER SHORTENING VARIANTS 73
10 SHORTENINGS MARKET, BY APPLICATION 74
10.1 INTRODUCTION 75
10.2 BAKERY PRODUCTS 76
10.3 SNACKS & SAVORY PRODUCTS 77
10.4 CONFECTIONERY PRODUCTS 78
10.5 OTHER APPLICATIONS 79
11 SHORTENINGS MARKET, BY REGION 81
11.1 INTRODUCTION 82
11.2 NORTH AMERICA 83
11.3 EUROPE 88
11.4 ASIA-PACIFIC 92
11.5 REST OF THE WORLD 98
12 SHORTENINGS, BY PROCESS 103
12.1 INTRODUCTION 103
12.2 PROCESS FOR THE PRODUCTION OF EDIBLE OIL 103
12.3 HYDROGENATION 104
12.4 FRACTIONATION 104
12.5 INTERESTERIFICATION 105
13 SHORTENINGS, BY BRAND 106
13.1 INTRODUCTION 106
13.2 NOVALIPID 106
13.3 EXTEND 106
13.4 CLEAR VALLEY 106
13.5 WESSON 107
13.6 SANSTRANS 107
14 COMPETITIVE LANDSCAPE 108
14.1 OVERVIEW 108
14.2 SHORTENINGSMARKET: MARKET SHARE ANALYSIS 110
14.3 COMPETITIVE SITUATION & TRENDS 111
14.3.1 EXPANSIONS & INVESTMENTS 112
14.3.2 ACQUISITIONS 114
14.3.3 JOINT VENTURES, COLLABORATIONS, AGREEMENTS, AND PARTNERSHIPS 116
14.3.4 NEW PRODUCT LAUNCHES 118
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15 COMPANY PROFILES 119
(Company at a Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)*
15.1 INTRODUCTION 119
15.2 CARGILL 120
15.3 BUNGE LIMITED 125
15.4 CONAGRA BRANDS 130
15.5 WILMAR INTERNATIONAL LIMITED 133
15.6 ARCHER DANIELS MIDLAND COMPANY 137
15.7 INTERNATIONAL FOODSTUFF COMPANY HOLDINGS LIMITED (IFFCO) 143
15.8 VENTURA FOODS, LLC 146
15.9 MANILDRA GROUP 149
15.10 AAK AB 151
15.11 ASSOCIATED BRITISH FOODS PLC (ABF) 154
*Details on company at a glance, recent financials, products & services, strategies & insights, & recent developments might not be captured in case of unlisted companies.
16 APPENDIX 157
16.1 KEY INDUSTRY INSIGHTS 157
16.2 DISCUSSION GUIDE 158
16.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 161
16.4 INTRODUCING RT:REAL-TIME MARKET INTELLIGENCE 163
16.5 AVAILABLE CUSTOMIZATIONS 164
16.6 AUTHOR DETAILS 165