Amid the COVID-19 crisis, the global market for Shortenings estimated at US$3.9 Billion in the year 2020, is projected to reach a revised size of US$4.7 Billion by 2027, growing at a CAGR of 2.8% over the analysis period 2020-2027. Oil, one of the segments analyzed in the report, is projected to record a 3.3% CAGR and reach US$1.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Butter segment is readjusted to a revised 2.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 5.2% CAGR
The Shortenings market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$959.6 Million by the year 2027 trailing a CAGR of 5.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR.
Lard Segment to Record 2.4% CAGR
In the global Lard segment, USA, Canada, Japan, China and Europe will drive the 2% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$496.8 Million in the year 2020 will reach a projected size of US$570.4 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$649.6 Million by the year 2027, while Latin America will expand at a 3.2% CAGR through the analysis period. We bring years of research experience to this 8th edition of our report. The 480-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Competitors identified in this market include, among others:
- AAK AB
- Archer Daniels Midland Company
- Associated British Foods PLC
- Bunge Ltd.
- Cargill, Inc.
- Conagra Brands, Inc.
- International Foodstuff Company Holdings Limited (IFFCO)
- Manildra Group
- Ventura Foods, LLC.
- Wilmar International Ltd.
The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Global Competitor Market Shares
Shortenings Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
GEOGRAPHIC MARKET ANALYSIS
Market Facts & Figures
US Shortenings Market Share (in %) by Company: 2019 & 2025
Market Facts & Figures
European Shortenings Market: Competitor Market Share Scenario (in %) for 2019 & 2025
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
Total Companies Profiled: 42