Shortening Powder Market Outlook
Shortening powder is an edible fat that is derived from various source such as palm, soybean, etc. Shortening powder is used in the preparation of various bakery and confectionery food products to improve the texture and quality of the finished goods. Shortening powder is an excellent food ingredient that is easy to use and has extended shelf-life. Shortening powder enhances the softness of the finished products and helps to improve the overall quality of the product.
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Improved Shelf-life Property is anticipated to Drive the Sales of Shortening Powder
The demand for bakery products is anticipated to boost the sales of shortening powder. Shortening powder is an essential ingredient that is used while preparing bakery products such as cookies, pastries, donuts, pie crusts, etc. Shortening powder is used to improve the texture, imparts softness to crumb structure and improves the palatability of the products. The major concern for the manufacturers in the bakery industry is to maintain consistency in the taste and texture of the product and to improve its shelf-life. Shortening powder can easily blend with the other ingredients, and therefore, can form uniform product without any uneven distribution of taste. Thus, manufacturers can use shortening powder to develop high-quality products that have a good consistency. Shortening powder has improved shelf-life, and thus the risk of product spoilage decreases. Therefore, the increase in demand for bakery products and extended shelf-life is estimated to have a positive impact on the shortening powder market.
As the demand for bakery products is increasing, the competition among the manufacturers of bakery ingredients is getting intense. The companies are trying to keep a track on the current market trends and are seeking approval and carrying out surveys to understand the needs of the consumers. The companies are launching gluten-free and non-GMO shortening powder to attract consumers. The demand for clean label products is anticipated to increase the sales of shortening powder. The consumers are demanding product insights and prefer the use of products that contain simple ingredients. The manufactures in the food industry can use gluten-free and non-GMO shortening powder in various products to develop clean label products and to attract consumers.
The presence of a variety of healthy shortening substitutes in the market is expected to hinder the sales of shortening powder. With the intense competition in the market and the presence of various substitutes, it becomes difficult to understand consumer preferences. The changing consumer preferences due to the availability of many options is expected to have a hamper the growth of shortening powder market.
Shortening Powder Market Segmentation
The shortening powder market can be segmented on the basis of source, end-use, and sales channel:
The shortening powder market can be segmented on the basis of the source as:
The shortening powder market can be segmented on the basis of end-use as:
- Food Industry
- Foodservice/HoReCa (Hotels/Restaurants/Café)
The shortening powder market can be segmented on the basis of the sales channel as:
- Direct Sales
- Indirect Sales Hypermarkets/Supermarkets Wholesalers Convenience Stores Specialty Stores Online Retailers
Shortening Powder Market: Regional Analysis
The rise in income, high youth population, the impact of western culture, busy lifestyle and preference for convenience are some of the major factors due to which the demand for bakery products is increasing in the Asia Pacific region. India and China together account for about 36% of the total world population and also, both the countries are listed among the top five countries that have a large youth population. Thus, the demand for bakery products is anticipated to increase at a high rate in the Asia Pacific region. The manufacturers of shortening powder have the opportunity to establish themselves in the Asia Pacific region to increase their distribution network and improve sales.
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Shortening Powder Market: Key Participants
Few key market players in the shortening powder market are:
- Archer Daniels Midland Company
- Cargill, Incorporated
- Augason Farms
- The J.M. Smucker Company
- Honeyville, Inc.
- Bluegrass Dairy & Food, Inc.
- DairiConcepts, L.P.