Shortening Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026
Worldwide Market Reports added Latest Research Report titled "Shortening Market" to its Large Report database.
Shortening refers to fat that is a solid at room temperature and is used to make crumbly pastry and other food products. Different types of shortenings are available, which differ in their origin, flavor, and consistency.
Shortenings find a wide range of applications in the confectionery, bakery, and snacks & savory sectors. Increasing demand for shortenings in various food applications, the growing processed food industries, and rise in demand for bakery and confectionery products are major factors that fuel growth of shortening market. All-purpose shortenings are in demand, owing to their versatile nature and multi-functional characteristics. This versatility helps them to blend well with other ingredients and gives a rich and uniform taste and texture to cakes, cookies, biscuits, pie crusts, and pastries.
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However, the consumption of trans-fatty acids is strongly associated with an increased risk of cardiovascular diseases and cancer. As a result, regulations on the usage of liquid oils directly in sweet goods and icings were introduced. Thus, awareness regarding the negative health effects of trans-fatty acids is affecting the confectionery ingredients industry, and in turn, is hindering growth of the shortenings market.
Key Developments in Shortening Market
Key players are adopting various strategies such as mergers, acquisitions, new product launches, expansions, collaborations, partnerships, approvals, and joint ventures to retain its position in the shortening market. On April 23, 2018, ADM Animal Nutrition™, a division of Archer Daniels Midland Company launched its product called as Versity™, which is a new alternative protein source for companion animals. Also, Archer Daniels Midland Company started its new enzyme lab in Davis, California.
In 2017, Princes and Crown launched ‘Love Canned Food’ initiative to drive awareness of the positive benefits of canned food and increase sales in the category. Moreover, Puratos Group signed an agreement with PMG Premium Mühlen Gruppe GmbH & Co. to acquire their Plange Bakery Ingredient Business. Furthermore, Zeelandia acquired bakery ingredients producer James Fleming & Co Ltd.
Some of the key players operating in the shortening market include Olenex, ADM, Walter Rau, Yildiz Holding, VFI GmbH, AAK, Zeelandia, Puratos, Princes Group, and HAS Group among others.
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