Global Bakery Fat Market Set to Reach US$ 2471.1 Million by 2034 with 5.7% CAGR
Global Bakery Fat Market Set to Reach US$ 2471.1 Million by 2034 with 5.7% CAGR

The United Kingdom is experiencing a 4.3% compound annual growth rate (CAGR), driven by increasing consumer demand for premium and healthy bakery products. The rise in home baking interest has led to higher adoption of bakery fats, reflecting consumers’ convenience preferences.

NEWARK, Del, March 19, 2024 (GLOBE NEWSWIRE) — 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.

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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).

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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

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Bakery Fat Market Segmentation by Category

By Type:

  • Shortening
  • Margarine
  • Bakery Oils
  • Others

By End-use:

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

Authored by:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI’s related ongoing Coverage in Food and Beverage Domain:

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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Originally published at https://www.einpresswire.com/article/697136425/global-bakery-fat-market-set-to-reach-us-2471-1-million-by-2034-with-5-7-cagr-growth-opportunities-in-changing-consumer-preferences-and-health