Changing lifestyle of the individuals contributes to the Shortenings Market
Posted by Shiva on December 27th, 2019
Shortenings Market Overview:
Shortenings can be known as a significant ingredient of baking. Due to this significance, the shortenings market is improving in the global market because the food and beverages market is developing. The rising popularity of the baking products in the worldwide market and the easy availability of the shortenings boost the expansion of the market in the future years. Shortening market was valued at USD 3.76 billion in 2018 and expected to rise at a compound annual growth rate (CAGR) of 5.1% to reach USD 4.82 billion by 2023.
Market drivers and restraints:
The rising call for the products that are low at calorie content globally offers new promising opportunities for the market players in the next coming years. The increasing application base of the baking ingredients triggers the global shortenings market. In recent years, there has been an increase in the call for the bakery product due to its rising popularity, fueling the market expansion worldwide. The other factors that are contributing to the market expansion are rising disposable income and the changing lifestyle of the individuals.
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Report segmented as:
By major ingredients:
Asia Pacific region is leading the shortenings market in terms of both value and volume. The key contribution from the countries like Indonesia, Malaysia, China, and India is expected to boost the market expansion in the future.
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Important market players:
Some of the major players that are operating in the shortenings market are Archer Daniels Midland Company, AAK AB, Bunge Limited, Manildra Group, Ventura Foods, LLC, International Foodstuff Company Holdings Limited, Cargill, Wilmar International Limited, Associated British Foods, and ConAgra Brands.
The Scope of the report:
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About the AuthorShiva
Joined: June 11th, 2019
Articles Posted: 88
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