Market Outlook
Shorteningsare edible fat which is solid at room temperature. It can be solid or liquid.Solid shortenings are recommended for the use in pastries, bread, and piecrusts whereas liquid shortenings are mainly used in cakes. Shortenings aremade from vegetable oils as well as animal fats, but these days shorteningswhich is made from hydrogenated vegetable oils are most common in the market.They are made from cottonseed, soybean or refined palm oil.
Flakedshortenings have become the global demand as it is used in bakery andconfectionary products. The growing trend of health and fitness has a majorimpact on the flakedshortenings market. Flaked shortenings are prepared from vegetable oilsas well as animal fats. As we all know, fat is one of the essential nutrientsfor the human body as it provides energy, carry vitamins, provide structuralsupport to cells, and perform other biological functions. Flaked shorteningsevenly get mixed with dough or other components, due to which fats get evenlyspread. Flaked shortenings increase the formation of thin crisp fragments inbaked products and can also be used with other combinations of shortenings. Thesignificant feature of flaked shortenings is to conduct dry mix applications.It is also beneficial for those who have problems with animal-derived productsor are vegans because its source is both plant and animal. Flaked shorteningsare available in different flavors in the market such as vanilla, strawberry,orange, and others. The demand for flaked shortenings that are prepared fromvegetable oil is increasing because of the increase in the number ofvegans.
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Increasing Demand for Bakery product Anticipated to Boost the FlakedShortenings market.
Due to theincrease in the number of bakery and confectionary product consumers, thedemand for the flaked shortenings is increasing globally. Asia followedby Europe has the largest market demand for bakery products hence the demandfor flaked shortenings is higher in this region. Due to the increase in thevegan population the market for plant-derived flaked shortenings is anticipatedto grow in the America and the Asia Pacific region.
Global Flaked Shortenings: Key Players
The globalflaked shortenings market is evolving due to the increase in the number ofbakery product consumers. Manufacturers of flaked shortenings are also focusingon vegan flaked shortenings, due to the increasing number of vegans. Some ofthe global key manufacturers of flaked shortenings are AAK AB, BungeLimited, Cargill. Except them, more industrialists and manufacturers areshowing a keen interest in the flaked shortenings because of the growing marketdemand due to the increase in the number of bakery product consumers.
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Opportunities for MarketParticipants:
Thegrowing number of bakery product consumers is the key factor in escalating thedemand for the flaked shortenings. The bakery products which are mostlyavailable in the market are prepared from both plant and animal-derived flakedshortenings. As the number of vegans is increasing these days, so themanufacturers should focus on plant-derived flaked shortenings. Manufacturersshould also focus on fat content in the flaked shortenings because these flakesshortening have a very high amount of fat and cholesterol. Few companies havestarted manufacturing the fat-free flaked shortenings which are highlypreferred by the consumers. Due to the increase in awareness about health andfitness among consumers, the demand for fat-free flaked shortenings is veryhigh. New and existing players have a good opportunity, as they can advertisetheir product by providing an adequate awareness of the product like itsfat-free nature, its number of end uses. By considering these factors, themarket demand for flaked shortenings is anticipated to grow in the forecastperiod.
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· Huge demand for flaked shortenings product come from Asia andEurope due to a large number of bakeries in this region. Hence, manufacturersshould focus on this region. Also, manufacturers of flaked shortenings shouldfocus on the Americas, and the Asia Pacific as the vegan population in theseregions is growing gradually as well as the fitness trend in these regions isgrowing tremendously.
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