All-Vegetable Shortening Market size is estimated to be USD 3.5 Billion in 2024 and is expected to reach USD 5.2 Billion by 2033 at a CAGR of 5.4% from 2026 to 2033.
The All Vegetable Shortening Market was valued at approximately USD 10.5 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2030. The markets expansion can be attributed to the increasing consumer demand for plant based products and the growing adoption of healthier alternatives to animal fats. North America and Europe currently dominate the market, accounting for over 50% of the global share. The increasing use of vegetable shortening in bakery products, convenience foods, and other applications in these regions is contributing to this dominance. Additionally, the rise in vegan and vegetarian food trends has further accelerated the growth of the market. As of 2022, North America held the largest market share, valued at USD 4.5 billion, while Europe followed closely with a market size of USD 3.2 billion.
In the Asia Pacific region, the All Vegetable Shortening Market is projected to experience the highest growth rate, with a CAGR of 6.2% from 2023 to 2030. This growth can be attributed to rapid urbanization, increased disposable income, and a shift towards healthier food options among consumers in countries like India and China. The growing preference for bakery products and processed foods in these regions is also expected to drive market growth. The Middle East and Africa are anticipated to witness steady growth, with an increasing awareness of the health benefits of plant based fats. Latin America, while still a smaller market, is expected to see moderate growth in the coming years due to changing dietary habits and the rise of health conscious consumers.
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Hain Celestial
Ventura Foods
Matrixx Initiatives
Admiration Foods
Bunge North America
Crisco
Cai Lan Oils&Fats Industries
Tuong An Vegetable Oil
Golden Hope Nha Be
Tan Binh Vegetable Oil
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global All-Vegetable Shortening Market
Refined Vegetable Shortening
Non-Hydrogenated Vegetable Shortening
Organic Vegetable Shortening
Blended Vegetable Shortening
Baking Industry
Food Service
Snack Food Production
Confectionery Manufacturing
Bulk Packaging
Retail Packaging
Food Service Packaging
Direct Sales
Online Retailers
Hypermarkets/Supermarkets
Specialty Stores
Convenience Stores
Baking
:Frying
Sautéing
Bread Spread
Confectionery Coating
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global All-Vegetable Shortening Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global All-Vegetable Shortening Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global All-Vegetable Shortening Market, By Type
6. Global All-Vegetable Shortening Market, By Application
7. Global All-Vegetable Shortening Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global All-Vegetable Shortening Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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