Shortening powder is basically an edible fat that is mainly derived from various sources, including palm, soybean, etc. Shortening powder is utilized in the preparation of various bakery as well as confectionery food products to improve the texture along with the quality of the finished goods. Shortening powder is considered an excellent food ingredient that is easy to use and also has an extended shelf-life. Shortening powder mainly enhances the softness of the finished food products as well as helps to improve the overall quality of the product.
MARKET DYNAMICS
The shortening powder market has witnessed significant growth owing to factors such as wider application in the end-use food industry, foodservice/HORECA (hotels/restaurants/caf?), and household. Improved shelf-life property is expected to drive the sales of shortening powder globally. The demand for bakery products is further anticipated to boost the sales of shortening powder. Shortening powder is an essential ingredient used while making bakery products such as cookies, donuts, pastries, pie crusts, etc. Shortening powder is utilized to improve the texture, imparts softness to crumb structure also improves the palatability of the products. The major concern for the manufacturers in the bakery industry is to maintain consistency in the taste along with the texture of the product and to improve its shelf-life. Shortening powder has improved shelf-life, and hence the risk of product spoilage decreases. The companies are launching gluten-free coupled with non-GMO shortening powder to attract consumers. The demand for clean-label ingredients is also anticipated to increase the sales of shortening powder. However, various food regulations on processing, packaging, labeling, and transportation may hamper the growth of the shortening powder market. Nevertheless, with the constant growth in the food processing industry and confectionary sector, there are opportunities for the market players to invest in this market.
MARKET SCOPE
The "Global Shortening Powder Market Analysis to 2028" is a specialized and in-depth study of the food and beverages industry with a special focus on the global market trend analysis. The report aims to provide an overview of the shortening powder market with detailed market segmentation by type, end-use, and geography. The global shortening powder market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading shortening powder market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global shortening powder market is segmented on the basis of type and end-use. On the basis of type, the shortening powder market is segmented into palm shortening powder, soybean shortening powder, and others. The shortening powder market on the basis of the end-use is classified into food industry, foodservice/HORECA (hotels/restaurants/caf?), and household.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global shortening powder market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The shortening powder market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the shortening powder market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the shortening powder market in these regions.
MARKET PLAYERS
The reports cover various key developments in the global shortening powder market. Various companies are focusing growth strategies such as product launches, product approvals and others such as patents and events. Some of the growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from shortening powder market are anticipated to lucrative growth opportunities in the future with the rising demand for shortening powder in the global market. Below mentioned is the list of few companies engaged in the shortening powder market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the shortening powder market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Archer Daniels Midland Company
- Augason Farms
- Bluegrass Dairy & Food, Inc.
- Cargill, Incorporated
- DairiConcepts, L.P.
- Honeyville, Inc.
- The J.M. Smucker Company
- Others
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.