The North America Shortening Market would witness market growth of 3.7% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 78079.69 Tonnes, showcasing a growth of 3.9% (2019-2022).
Animal fats, such as lard and tallow, are traditional sources of shortening and have been used for centuries in various culinary applications. Lard, rendered from pork fat, offers a rich flavor profile and desirable texture in baked goods, while tallow, derived from beef fat, provides a distinct savory quality often utilized in frying and pastry applications. Therefore, the Mexico market will extract 8,179.07 Tonnes of shortening from Animal source by 2030.
The US market dominated the North America Shortening Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,266.7 Million by 2030. The Canada market is experiencing a CAGR of 6.1% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 5.2% during (2023 - 2030).
Consumer preferences and demands also drive the adoption of shortening. Manufacturers respond by incorporating shortening into their formulations as consumers seek products with desirable textures, extended shelf life, and familiar tastes. This responsiveness to consumer preferences enhances the market adoption of shortening across a wide range of food products. One of the primary and traditional uses of shortening is in baking. Shortening's unique properties contribute to the flakiness and tenderness of pie crusts, biscuits, and pastries. Its solid fat content at room temperature creates a desirable texture in baked goods, making it an essential ingredient in the production of cakes, cookies, and various pastry delights.
Moreover, shortening's high smoke point and stability at elevated temperatures make it an ideal choice for frying and deep-frying applications. Shortening imparts a crispy texture to the exterior while maintaining a moist interior, whether it's frying doughnuts, chicken, or other fried delicacies. This use is prevalent in both commercial kitchens and industrial food processing. Shortening is a key component in the confectionery industry, contributing to the smooth and creamy texture of icings, fillings, and ganache.
The Organization for Economic Cooperation and Development (OECD)estimates that the average household net worth in Canada is USD 478 240, more than the OECD average of USD 323,960. As Canadians have more money for discretionary purchases, they are more likely to invest in premium and specialized food products, including high-quality shortening for cooking and baking purposes. Hence, the factors mentioned above will drive the regional market growth.
Free Valuable Insights: The Shortening Market is Predict to reach USD 5.8 Billion by 2030, at a CAGR of 3.9%
Based on Source, the market is segmented into Vegetable, and Animal. Based on Application, the market is segmented into Bakery Products, Confectionery Products, Snacks & Savory Products, and Others. Based on Sales Channel, the market is segmented into Indirect Sales, and Direct Sales. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Source (Volume, Tonnes, USD Billion, 2019-2030)
By Application (Volume, Tonnes, USD Billion, 2019-2030)
By Sales Channel (Volume, Tonnes, USD Billion, 2019-2030)
By Country (Volume, Tonnes, USD Billion, 2019-2030)
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