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Vegetable Shortening Market Trends

Report ID: GMI11286
Published Date: Sep 2024
Report Format: PDF

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Vegetable Shortening Market Trends

The current trend in the vegetable shortening industry is driven by the growing demand for healthier, trans-fat-free, and non-hydrogenated options as consumers become more health-conscious. There is also an increasing preference for plant-based and vegan shortenings, fueled by the rise of plant-based diets.

Additionally, clean-label products, which emphasize transparency in ingredient sourcing and processing, are gaining traction. Looking ahead, the market is expected to see a continued shift toward sustainable and eco-friendly production methods, with a focus on non-GMO and organic sources. Innovations in product formulation, such as functional blends for specific baking needs, will also shape the future of the market.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of vegetable shortening achieved USD 5.1 billion in 2023 and will grow at 3.7% CAGR from 2024 to 2032, due to its primary applications in baking, frying, confectionery, and snacks.

The baking application segment will expand to USD 3.18 billion by 2032, driven by its essential role in achieving desired textures and qualities in various baked goods.

North America market will record a 3.5% CAGR through 2032, due to its well-established food processing industry, high demand for convenience foods, and significant consumer base favoring baked goods and fried foods.

NIRMALA AVIJAYA GROUP, Spectrum Naturals, CALOFIC, Ventura Foods, B&G Foods, Inc., Stratas Foods, Bunge, GOLDEN HOPE - NHA BE EDIBLE OILS CO., LTD, Cargill, and Wilmar International Ltd.