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Bakery Fat Market Insights | Industry Outlook, Size, Growth Factors and Forecast To 2034

Author : Archana Aher | Published On : 28 Mar 2024

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).

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