PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358096
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358096
Dairy Free Shortening Market, By Product Type (Beverages, Milk, Dairy-free Kefir, and Bakery Products ), By Application (Household and Commercial), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
The global dairy free shortening market was valued at US$ 22.6 Bn in 2022, and is expected to exhibit a CAGR of 6.8%, in terms of revenue, over the forecast period (2023-2030) to reach US$ 35.8 Bn by 2030.
| Report Coverage | Report Details | ||
|---|---|---|---|
| Base Year: | 2022 | Market Size in 2023: | US$ 22.6 Bn |
| Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
| Forecast Period 2023 to 2030 CAGR: | 6.80% | 2030 Value Projection: | US$ 35.8 Bn |
Global Dairy free shortening is made from animal fat or vegetable oil that has been partially or completely hydrogenated. Owing to its low melting point, dairy free shortening improves the freshness, volume, and quality of its products. Numerous advantages of shortening in the preparation of baked confectionery products, such as its health benefit and replacement of dairy products, high melting point, and low cholesterol, have attracted confectionery product manufacturers. Increasing demand for dairy free bakery and confectionery products is helping to drive the global dairy free shortening market.
Market Dynamics
Consumers are increasingly opting for cruelty-free items such as meat and dairy substitutes, including dairy free shortening, as a result of rising health awareness and sustainability concerns.
Coconut oil is a great plant-based shortening substitute. At room temperature, it is solid and can be melted or beat just like butter or shortening. It also has a similar texture and is vegan. It can be used in place of dairy products, but baked goods will likely taste like coconut. As a result, increasing demand for coconut oil is expected to drive growth of global dairy free shortening market.
Cross-contamination of raw materials could hinder market growth trajectory over the forecast period, affecting dairy-free product sales. Furthermore, the relatively high prices of dairy-free products limit the sales potential and may stifle the growth of the dairy-free shortening market.
Key market players are focusing on product launches, product expansions, mergers, acquisitions, and partnerships in order to expand their businesses in the market. For instance, in February 2019, Nature Fresh Professional (a supplier of bakery shortenings and margarines) launched its wide range of shortening products across the Kerala market in India. The company has a clear vision to provide good-quality ingredients to bakers. Making this launch more engaging, educative, and interactive, the brand organized a technical session with Thiruvananthapuram- and Kozhikode-based bakers.
Key features of the study:
- This report provides an in-depth analysis of the global dairy free shortening market, market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
- It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global dairy free shortening market based on the following parameters - company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
- Key companies covered as a part of this study 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
- Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
- The global dairy free shortening market report caters to various stakeholders in this industry including investors, suppliers, caffeine manufacturers, distributors, new entrants, and financial analysts
- Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global dairy free shortening market
Dairy Free Shortening Market Detailed Segmentation:
- By Product Type:
- Beverages
- Milk
- Dairy-Free Kefir
- Bakery Products
- By Application:
- Household
- Commercial
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- Company Profiles
- Groupe Danone
- The Hein Celestial Group
- The Whitewave Foods Company
- Good Karma Foods
- GraceKennedy Group
- Blue Diamond Growers, Inc.
- SunOpta, Inc.
- Oatly A.B.
- Vitasoy International Holdings Limited
Table of Content
1. Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
2. Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Mergers and Acquisitions
4. Global Dairy Free Shortening Market - Impact of Coronavirus (COVID-19) Pandemic
- Overview
- Factors Affecting Global Dairy Free Shortening Market- COVID-19
- Impact Analysis
5. Global Dairy Free Shortening Market, By Product Type, 2022- 2030 (US$ Bn)
- Introduction
- Market Share Analysis, 2022, 2023, and 2030(%)
- Y-o-Y Growth Analysis, 2023 - 2030
- Segment Trends
- Beverages
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023- 2030, (US$ Bn)
- Milk
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023- 2030, (US$ Bn)
- Dairy-Free Kefir
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023- 2030, (US$ Bn)
- Bakery Products
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023- 2030, (US$ Bn)
6. Global Dairy Free Shortening Market, By Application, 2022-2030(US$ Bn)
- Introduction
- Market Share Analysis, 2022, 2023, and 2030(%)
- Y-o-Y Growth Analysis, 2023- 2030
- Segment Trends
- Household
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023- 2030, (US$ Bn)
- Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2023- 2030, (US$ Bn)
7. Global Dairy Free Shortening Market, By Region, 2022-2030(US$ Bn)
- Introduction
- Market Share Analysis, By Region, 2022, 2023, and 2030(%)
- Y-o-Y Growth Analysis, For Regions, 2023- 2030
- North America
- Market Share Analysis, By Country, 2022, 2023, and 2030(%)
- Y-o-Y Growth Analysis, By Country, 2023- 2030
- Country Trends
- Market Size and Forecast, By Product Type, 2022-2030(US$ Bn)
- Market Size and Forecast, By Application, 2022-2030(US$ Bn)
- Countries
- U.S.
- Canada
- Latin America
- Market Share Analysis, By Country, 2022, 2023, and 2030(%)
- Y-o-Y Growth Analysis, By Country, 2021 - 2030
- Country Trends
- Market Size and Forecast, By Product Type, 2022-2030(US$ Bn)
- Market Size and Forecast, By Application, 2022-2030(US$ Bn)
- Countries
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Market Share Analysis, By Country, 2022, 2023, and 2030(%)
- Y-o-Y Growth Analysis, By Country, 2023- 2030
- Country Trends
- Market Size and Forecast, By Product Type, 2022-2030(US$ Bn)
- Market Size and Forecast, By Application, 2022-2030(US$ Bn)
- Countries
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Share Analysis, By Country, 2022, 2023, and 2030(%)
- Y-o-Y Growth Analysis, By Country, 2021 - 2030
- Country Trends
- Market Size and Forecast, By Product Type, 2022-2030(US$ Bn)
- Market Size and Forecast, By Application, 2022-2030(US$ Bn)
- Countries
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- Market Share Analysis, by region, 2022, 2023, and 2030(%)
- Y-o-Y Growth Analysis, By region, 2023- 2030
- Country Trends
- Market Size and Forecast, By Product Type, 2022-2030(US$ Bn)
- Market Size and Forecast, By Application, 2022-2030(US$ Bn)
- Sub-Regions
- Middle East
- Africa
8. Competitive Landscape
- Heat Map Analysis
- Market Share Analysis (3x3 Matrix)
- Company Profiles
- Groupe Danone
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- The Hein Celestial Group
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- The Whitewave Foods Company
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Good Karma Foods
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- GraceKennedy Group
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Blue Diamond Growers, Inc.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- SunOpta, Inc.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Oatly A.B.
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
- Vitasoy International Holdings Limited
- Company Overview
- Component Portfolio
- Financial Performance
- Recent Developments/Updates
9. Section
- References
- Research Methodology
- About us and Sales Contact
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