Bakery Fat Market 2024 Growth Drivers, Regional Outlook, Competitive Strategies and Forecast up to 2034
According to Future Market Insights (FMI), the
global bakery fat market is projected to expand
substantially from US$ 1420.2 million in 2024 to US$
2471.1 million by 2034. The market is expected to surge at a CAGR of 5.7% during
the forecast period. Bakery fats are essential in producing a wide range of
bakery products, such as bread, cakes, pastries, and cookies.
Consumers are becoming more aware of the impact of dietary
choices on their health. They prefer food products with improved nutritional
values. There is a rising demand for safer and healthier bakery items among
health-conscious consumers across the globe, which is driving market growth.
To stay competitive in the market, manufacturers are also
adopting several growth strategies and approaches, such as direct-to-consumer
and online retail sales models, to reach consumers with diverse product
offerings. This aligns with changing consumer shopping habits and preferences
for online convenience.
In the near future, consumers are likely to hunt for
products that offer nutritional benefits, including those with functional
ingredients, organic components, and gluten-free options. The growing ease of
online shopping is projected to boost sales as key players leverage digital
platforms to the broader consumer base.
Information Source:
https://www.futuremarketinsights.com/reports/bakery-fat-market
Key Takeaways from the Bakery Fat Market Report:
- The
bakery fat market is projected to grow at a CAGR of 5.7% during
the forecast period.
- The
United States bakery fat market is expected to grow at a CAGR of 5.7% during
the forecasted period.
- Based
on product type, the shortening segment is expected to dominate the market
with 32% market share in 2024.
- Based
on end-use, the industrial segment is expected to hold a leading market
share of 65% in 2024.
- China
is projected to surge at a CAGR of 7.7% by 2034.
“The bakery fat market is experiencing globalization,
driven by rising consumption in developing regions. The rise of e-commerce
platforms and digital marketing channels is also set to push demand.
Manufacturers are leveraging these platforms to reach a wider audience and
effectively promote their products.”- says a lead analyst at
Future Market Insights (FMI).
Competitive Landscape
AAK (UK) Limited, Cargill, ConAgra, CSM Bakery Solutions,
Fuji Oil Co. Ltd., Goodman Fielder, Unilever, and Wilmar International are the
key players. Leading companies are expanding their product portfolios and
employing strategies like advertising, partnerships, acquisitions, agreements,
and mergers to maintain market relevance and drive growth in the bakery fat
market.
For instance,
- In
2023, the Finsbury Food Group acquired Johnstone’s Just Desserts.
This tactical move allowed Finsbury to enrich its position in the bakery
industry and secure a larger share of the market
- In
2023, Investindustrial acquired CSM Ingredients from CSM Bakery
Solutions. The transaction aimed to strengthen Investindustrial’s position
in the baking ingredients market.
Key Coverage in the Bakery Fat Industry Report
- Bakery
Fat Market Scope
- India
Bakery Ingredients Market Size & Share Analysis
- Drivers
for Bakery Fat Market Growth
- Study
on Bakery Fat Substitutes
- Pricing
Analysis of the Bakery Fat Market
- Detailed
Information on Shortening Fats Market Size, Top Bakery Fat Retailers in
Market, and Specialty Fats & Oils Market Scope
- Opportunities
for Bakery Fat Market in India
- Growth
Potential of the United States Bakery Fat Industry
Bakery Fat Market Segmentation by Category
By Type:
- Shortening
- Margarine
- Bakery
Oils
- Others
By End-use:
- Industrial
- Residential
By Distribution Channel:
- B2B
- B2C
- Hypermarket
- Supermarket
- Retail
Stores
- Online
Retailing
By Region:
- North
America
- Latin
America
- Europe
- East
Asia
- South
Asia
- Oceania
- Middle
East and Africa
Comments
Post a Comment