SHORTENINGS MARKET ANALYSIS
Shortenings Market – Insights
The global shortenings market was valued at US$ 3,835.2 Mn in 2018, and is expected to register a CAGR of 3.2%, in terms of revenue over the forecast period (2019-2027), to reach US$ 5,051.7 Mn by 2027.
Asia Pacific accounted for the largest revenue share in the global shortenings market in 2018, and is projected to continue its dominance during the forecast period. Expanding confectionery market in Asia Pacific is expected to drive demand for shortening over the forecast period. According to the International Trade Center, in 2017, Singapore generated US$ 364.9 million revenue through export of chocolates, followed by China and Malaysia with US$ 315.6 million and US$ 226 million, respectively.
Moreover, Europe held the second largest position in the global shortenings market and is projected to exhibit a CAGR of 2.3% during 2019-2027. The demand for shortening in Europe is high, owing to growing production of confectionery products. For instance, according to the Association of Chocolate, Biscuits and Confectionery Industries of Europe (CAOBISCO), in 2015, Europe’s chocolate market was pegged at 2,772,325 metric ton, which increased to 2,827,184 metric ton in 2016, witnessing an increase of 1.9% during 2015-16.
Shortenings Market Report Snapshots
Need a Custom Report?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports
Customize NowWant to Buy a Report but have a Limited Budget?
We help clients to procure the report or sections of the report at their budgeted price. Kindly click on the below to avail
Request DiscountPress Release
Credibility and Certifications
9001:2015
27001:2022
Joining thousands of companies around the world committed to making the Excellent Business Solutions.
View All Our Clients