Friday, 24 November 2017

 

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The global shortening fats market is expected to reach USD4.3bn by 2022, witnessing a CAGR of 4.3% during 2017-2022 (forecast period), according to Research and Markets.

The growth of the convenience food market and favorable functional ingredients, along with the increasing usage of shortening fat in bakery, snacks, confectionery items are largely responsible for the shortening fat demand in the global market. The rapid adaptation of shortening fat in the food processing industry for better texture, functional attributes, and trans-fat reduction properties are boosting this market. Globally, they are becoming popular in the food industry for their low trans-fat property, and such trends are expected to be seen in the future as well, according to the analysts.

The bakery, confectionery and snacks are the largest shortening fat consuming food segments, globally. The fat’s properties of improving food appearance, flavor, texture, nutrition, and high melting point make it highly suitable for the food processing industry, at a global level. Currently, baked products, such as sweet biscuits, biscuits, cakes, pastries, bread, and cookies are the largest shortening fat consumption food segments, by application.

The global demand for shortening fats is expected to be 20 - 25% higher in the coming decade, at the global level, according to the report.
Asia-Pacific will be the production hub of the global industry for this ingredient; this region is the fastest-growing consumer of shortening fat in the global market. India and China are fastest-growing consumer markets, whereas Malaysia and Indonesia are the major producers in the region. The rapid utilization of palm oil for shortening fat production is a major reason for this market forecast.  

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