New York, NY -- (SBWire) -- 04/11/2019 --Global Specialty Shortenings Market: Market Outlook
Specialty shortening are the typical fat products formulated with vegetable, seeds and animal oils that have been processed for functionality. Specialty shortenings are used in many products depending on the requirement for specific application and nature of the products. Mostly specialty shortenings are used in the cooking, baking, frying and as an ingredient in filings, icing and confectionary items. Specialty shortenings help to enhance the flavor of food products and a major contributor to the product structure, texture, eating characteristics, quality and long storage life of the finished products. Vegetable shortenings have low-trans-fat property as compared to animal shortenings. Palm oil is the main source of specialty shortenings. The processed food or baked product needs the content of shortenings to protect the product. As increasing demand for bakery and conventional food products, demand and opportunity for specialty shortening market is also increasing.
Global Specialty Shortenings Market: Dynamics
Specialty shortenings are mainly used in the bakery products to make crisp and crumbly texture to baked products and to increase the plasticity of dough. The demand for low-trans-fat property specialty shortening is increasing on the basis of consumer requirements for less fat containing products. Increasing demand for bakery products worldwide is the biggest driver for generating demand for specialty shortening market. Specialty shortening is the key ingredient while making the bakery products including cakes, pastries, bread, and cookies. Other than bakery products specialty shortenings are used in dairy products, chocolate, ice cream, pharmaceutical, cosmetic and other industries. Milk products and confectionary products are always in the higher demand globally, manufacturing these products require more amount of specialty shortenings to improve texture and life shell of the products, which is driving the opportunities for specialty shortening market.
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Global Specialty Shortenings Market: Market Segmentation
On the basis of source, Global Specialty Shortenings Market has been segmented into:-
Vegetable
Seeds
Animal
On the basis of type, Global Specialty Shortenings Market has been segmented into:-
Powder
Liquid
Paste
On the basis of application, Global Specialty Shortenings Market has been segmented into:-
Texturizer
Stabilizer
Shelf life Enhancer
On the basis of distribution channel, Global Specialty Shortenings Market has been segmented into:-
Business to Business
Business to Consumer
Bakery
Supermarkets/ Hypermarkets
Online retail
Convenience stores
On the basis of end use, Global Specialty Shortenings Market has been segmented into:-
Food and beverages
Bakery
Dairy
Confectionery
Others
Cosmetic
Pharmaceutical
On the basis of region, Global Specialty Shortenings Market has been segmented as,
North America
Latin America
Europe
East-Asia
South Asia
Middle East & Africa
Oceania
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Global Specialty Shortenings Market: Key Players
The key players operating in the Global Specialty Shortenings Market are MOI International Pty Ltd, PT SMART Tbk., Cargill Incorporated, AAK International, Batory Foods, Wilmar International Ltd., IFFCO International, Musim Mas Holdings Pte. Ltd., Pyramid Wilmar (Pvt) Ltd., The Nisshin OilliO Group, Ltd., Hubberts Industries., A S Harrison & Co Pty Limited, Catania Spagna, Archer Daniels Midland Company. ICC Group. The key manufacturer are looking for strategic business development for catering new market opportunities.
Specialty Shortenings Market Set to Surge Significantly During 2018-2028