The global dairy free shortening market was valued at US$ 22.6 Bn in 2022 according to the global dairy free shortening market report, By Product Type (Beverages, Milk, Dairy-free Kefir, and Bakery Products), By Application (Household and Commercial), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa), published by Coherent Market Insights.
The global dairy free shortening market is expected to surpass US$ 35.8 Bn by 2030 and exhibit a CAGR of 5.2% during the forecast period (2023-2030). Shortening is a solid fat that does not melt at room temperature, unlike butter. Shortening creates a gluten matrix in the dough and is commonly used in confectionery dough to keep it soft after baking. Shortening is not brittle, hard, soft, or waxy, and it does not chip off when consumers eat it. In addition, shortening improves the chemical, physical, and nutritional properties of food.
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https://www.coherentmarketinsights.com/market-insight/dairy-free-shortening-market-5114
Key Trends and Analysis of the Global Dairy Free Shortening Market:
- The North America dairy free shortening market was valued at US$ 7.89 billion in 2022 and is expected to grow at a significant rate of 5.30% during the forecast period. Vegan diets are becoming more popular among the world's millennials, which is fuelling the growth of the dairy-free products market.
- Among application, the household segment is expected to hold a dominant position in the dairy free shortening market over the forecast period due to an increase in health concerns about cholesterol levels and cardiovascular disease among people in recent years. Furthermore, increased consumer awareness of healthy living habits and rising disposable income are likely to drive demand over the forecast period.
Key Takeaways of the Global Dairy-free shortening Market:
- Individuals have begun to opt for dairy-free diets as a result of rising veganism and a high prevalence of lactose intolerance among people all over the world. This trend of consuming dairy-free products is growing among millennials due to ethical concerns about animal treatment, rising dairy allergies, lactose intolerance, and other factors. Dairy-free products are becoming more popular as people become more receptive to them as a lifestyle choice or due to health issues such as lactose intolerance. Dairy-free products are thought to be a good source of fiber, which can help people improve their gut health. Dairy-free diets are simply balanced diets that exclude dairy products in favour of calcium-fortified plant-based alternatives such as coconut milk, almond milk, soy milk, etc.
- Consumers are increasingly choosing cruelty-free products such as meat and dairy alternatives, including dairy free shortening, as a result of rising health awareness and sustainability concerns. Dairy free shortening consumption is on the rise among millennials for a variety of reasons, including ethical concerns, rising allergies to dairy products, animal welfare, and others.
- Major players operating in the global dairy free shortening market include Groupe Danone, The Hein Celestial Group, The Whitewave Foods Company, Good Karma Foods, GraceKennedy Group, Blue Diamond Growers, Inc., SunOpta, Inc., Oatly A.B., and Vitasoy International Holdings Limited
Global Dairy Free Shortening Market - Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic, which began in late 2019 and has spread rapidly and widely around the world, has had significant implications for food security and nutrition. The coronavirus disease and its rapid spread have posed an unprecedented threat to both societies and economies. The global health crisis has not only caused major disruptions to food supply chains, but it has also caused a significant global economic slowdown. The pandemic has disrupted social protection programs, which has a negative impact on food security and nutrition.
Self-quarantine and the temporary closure of businesses have affected normal food-related practices as countries have taken stronger measures to contain the spread of COVID-19. Restaurants and takeaways are being restricted in some countries, and some fresh foods are becoming scarce. Food supply chains have been severely disrupted as a result of the lockdown measures, affecting food availability, pricing, and quality. The COVID-19 crisis has exacerbated precarious and dangerous working conditions for many food system workers.
