Shortening and Coating Fats Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 - 2024
- Transparency Market Research
Shortening and coating fats are the fats derived from vegetable oils such as soybean and cottonseed. Shortening and coating fats are solid fats, unlike butter the shortening and coating fats does not melt at room temperature. Shortening and coating fats form a gluten matrix in the dough and are widely used with dough for confectionaries to keep them soft after baking. Shortening and coating fats are not too brittle, hard, soft or waxy and do not chip off during eating. Furthermore, shortening and coating fats also enhance the chemical, physical and nutritional functions of the food.
Global Shortening and Coating Fats Market: Drivers and Restraints
The growth of global shortening and coating fats market is driven by its demand among the confectionery manufacturers globally. The eminent benefits of shortening and coating fats in the preparation of baked confectionery products such as its appearance, texture, flavor, high melting point, and nutrition content among other benefits of the shortening and coating fats has gained attraction among the manufacturers of confectionery products, which in turn is driving the demand for global shortening and coating fats market. Furthermore, the growth of confectionery market worldwide and increasing consumption of confectioneries across the regions is anticipated to further supplement the growth of global shortening and coating fats market globally. On the plus side, macroeconomic factors such as the rise in disposable income of middle-class population triggering increased spending on the baked foods and confectioneries can also be attributed to the growth of global shortening and coating fats market globally. Trends noted in the global shortening and coating fats market is the regulations for eliminating the use of trans fats in the food industry. Thus, shortening and coating fats are becoming more popular as fats low on trans fatty acids used in the confectionery food products. However, the shortening and coating fats have health disadvantages as during the processing of vegetable oil to make shortening and coating fats the polyunsaturated benefits of the oil is lost. Another factor which is anticipated to hamper the growth of global shortening and coating fats market is the emergence of functional food market globally.
Global Shortening and Coating Fats Market: Segmentation
The global shortening and coating fats market is segmented on the basis of raw materials, applications and region
On the basis of shortening and coating fats raw materials, the global shortening and coating fats market is segmented into:
- Sunflower Seed
- Palm and Palmkernel
On the basis of applications, the global shortening and coating fats market is segmented into:
- Confectionary Fats
- Ice Cream Fats
- Dairy Fat Substitutes
- Bakery Fats
- Frying Fats
- Animal Feed
- Non-edible Hard Fats
Shortening and Coating Fats Market: Regional Outlook
Based on the geographies, global shortening and coating fats market is segmented into five key regions- North America, Latin America, Europe, APAC, and the Middle East and Africa. Among the aforementioned regions, Asia-Pacific accounts for significant share for shortening and coating fats market, owing to the large consumption of confectionary products significant share of confectionery industry in the region as compared to other regions. Furthermore, the significant growth of food industry and a healthy FMCG (Fast Moving Consumer Goods) market in the region is anticipated to further add value to the market. North America market for shortening and coating fats is followed by the Asia-Pacific market for shortening and coating fats market which is trailed by the Europe market for the shortening and coating fats. Latin America market for shortening and coating fats is anticipated to pace up during the forecast period with growing confectionary industry in the region, the Middle East and Africa market is expected to account for the lowest share in the global shortening and coating fats market. Overall, the global market for shortening and coating fats offers a positive outlook.
Global Shortening and Coating Fats Market: Key Players
Some of the few players identified in the global shortening and coating fats market include Cargill, Incorporated, Premium Vegetable Oils Sdn Bhd, Fediol, Wilmar International Ltd., Intercontinental Specialty Fats Sdn. Bhd., Mewah Group, Seydal Companies and Oleo-Fats, Incorporated among others
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