Global Flaked Shortenings Market: Market Outlook
The food industry has witnessed unprecedented growth over the past few years. Flaked shortenings are the additive that is added with food products during baking to improve tenderness and texture in baked goods. Flaked Shortenings is the vegetable oil fat that is used for the replacement of butter used in the bakery food items. Flakes provide flakiness, improved aeration, and tenderness in the bakery items. The use of shortenings driven as an alternative to the high costing butter. The flaked shortenings help in improving dough processing and the eating qualities in finished bakery products. The flaked shortenings provide a natural flavor of flakes like cinnamon sugar and natural butter, which adds value to various bakery food products. The use of flakes has performed best in frozen and refrigerated doughs. The flexibility of flaked shortening makes it a true value-adding product as it can be used for flavor delivery and functionality. The use of flaked shortenings has been widespread in developed countries from the last few years. However, most developing countries are adopting such products and the demand for flaked shortenings is thus increasing.
Growing Demand for Ready-to-Eat foods in Developing Countries and Advance Manufacturing Process will be Key Driving Factors for Flaked Shortenings Market
The increased demand for processed food from all over the globe has fuelled the demand for additives like flaked shortenings. Growing demand for bakery and confectionary products, increasing consumer preference for convenience food products, changing food preferences are some of the drivers of global flaked shortenings market. The flaked shortenings are largely used as an ideal replacement for use of butter in various bakery and confectionary products. High prices of butter is a prime factor that is driving the global flaked shortenings market. Due to the increasing health awareness, people are moving towards natural food additive. Increasing demand for natural additives in various food products proves to be a positive factor for the growth of flaked shortenings market. With the growing demand for bakery and convenience food, the global flaked shortenings market is expected to grow positively both in terms of value as well as volume during the forecast period.
Global Flaked Shortenings Market: Market Segmentation
In terms of Applications, the global flaked shortenings market has been segmented as:
In terms of End-Use, the global flaked shortenings market has been segmented as:
In terms of the Distribution Channel, the global flaked shortenings market has been segmented as:
Global Flaked Shortenings Market: Key Players
Some of the major key players in global flaked shortenings are Cargill, Gateway Food Products, AAK USA, Inc., Bunge North America, Inc., Mulama Farms, Incorporated, Natu’oil Services Inc. and others. Due to the growing demands, many companies are taking an interest in investing in flaked shortenings market. An increasing number of industries are showing interest in investing in flaked shortenings market.
Opportunities for Global Flaked Shortenings
The consumption of ready-to-eat foods is increasing rapidly in developing countries which in turn increases the demand for flaked shortenings products. The increasing demand for natural and organic food products forces, manufacturers to invest and new develop products. Owing to that the vegetable-based fat i.e. flaked shortening are rising rapidly. The growing cafeteria culture, especially in developing countries has opened opportunities for innovative use of flaked shortenings. The ongoing trend of reducing Trans fats from food products promotes the use of additives like flaked shortenings. With the penetration of e-Commerce, manufacturers have an opportunity to sell their products via online portals all across the globe and thus increase market presence.
Global Flaked Shortenings Market: Regional Outlook
On the basis of regions, the global flaked shortenings market can be segmented as Oceania, Latin America, East Asia, North America, South Asia, and the Middle East & Africa. Developing countries like Brazil, Argentina, & Brazil are demonstrating increased demand in ready-to-eat products as well as bakery products and thus are expected to exhibit grow at a good pace in global flaked shortenings market.