Global Edible Animal Fat market is expanding considerably and is expected to reach USD 19,482 Mn at a CAGR of 2.93% by the end of the forecast period which ends in 2023, reveals Market Research Future (MRFR) in a comprehensive report. Edible animal fats are experiencing steady demand due to its popularity as a multifunctional food ingredient. Taste-enhancing, excellent baking, and cooking properties make them ideally suited for culinary purposes which is a major driver for the growth of the global edible animal fat market.
Moreover, Edible Animal Fat Market Analysis is associated with great stability at high temperatures, longer shelf life and has preservative properties and can be used for baking, cooking, and frying. Furthermore, edible animal fats have a small carbon footprint. They act as part of a beneficial balanced diet. The growth of the market is also impacted by the use of edible animal fat in the production of biodiesel as well as their application in chemical industries. On the contrary, the growth of the global edible animal fat market might be hindered by their negative reputation concerning health, mainly due to their content of saturated fatty acids.
Segmentation of Edible Animal Fat Market:
The global edible animal fat market has been segmented by application, form, raw material, source, and region.
Animal feed, bakery & confectionery, biodiesel, culinary, R.T.E foods/convenience meals, savoury snacks, and others are among the market's application-based segmentations (home care products and personal care products).
The use of edible animal fat as biodiesel is expected to expand at the fastest pace of 3.10 percent. In terms of edible animal fat applications, culinary-based applications are expected to lead the market throughout the projected period, with bio-diesel applications coming in second.
The market is divided into liquid, solid, and semi-solid categories using form-based segmentation. According to the report, the solid form of edible animal fat will develop at the fastest pace of 3.25 percent due to its convenience storing property.
The market has been divided into three categories based on the raw materials used: lard, tallow, and others. Lard is predicted to expand at a high rate of 2.70 percent during the projection period, according to the analysis.
The market has been divided into cattle, pigs, and other sources (fish, goat, poultry, and sheep). During the projected period, pig-sourced edible animal fat is expected to rise at a moderate rate, according to the analysis.
Major Key Players:
The key players in the global edible animal fat market include Baker Commodities Inc. (USA), Cargill, Incorporated (USA), Colyer Fehr Tallow Pty Ltd. (Australia), Darling Ingredients Inc. (USA), Saria Se & Co. KG (Germany), Ten Ka te Holding B.V. (Netherlands), and York Foods Pty Ltd (Australia). The key players have been exploring the market in new regions by adopting acquisitions, new product developments, agreements, and certifications as their preferred strategies.
Region Overview:
The global edible animal fat market is segmented into four regions: North America, Europe, Asia Pacific, and the rest of the world (RoW).
According to the analysis, the Asia Pacific region would dominate the edible animal fat market with more than 40% market share in both value and volume over the forecast period. The market is estimated to grow at a CAGR of 3.40 percent to USD 8 billion by the end of the forecast period. The Asia-Pacific edible animal fats market is expected to increase in response to rising population and rising fats and oils consumption, particularly in Asian nations such as China and India. The Asia-Pacific region's population growth and expansion of food and non-food businesses demand more fats and oils than other end-use sectors around the world.
North America is expected to increase at a high rate of 2.34 percent throughout the projected period. The United States of America is home to several of the market's major participants (USA). Canada and Mexico are two more key country-specific marketplaces in this region. The market is well-represented in Europe, with France, Germany, Italy, Spain, and the United Kingdom (UK) accounting for the majority of revenue, followed by the rest of Europe. Argentina, Brazil, and South Africa are among the countries in the RoW region that contribute significantly to the market.
Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/edible-animal-fat-market-4036
About Market Research Future:
Market Research Future (MRFR) is a world-renowned market research company that offers a wide range of services, complete with accurate and precise analysis about diverse markets, sub-markets and target consumers. Our approach is a combination of extensive information and multiple data sources that help provide an exhaustive comprehension about the latest major developments to the client, in addition to future events and what measures and decisions to take on the basis of the same.
Our fast-emerging market research firm is armed with an adept research analysts’ team that focuses on gathering useful data and analytics in terms of economic and technological advances. Our proficient analysts conduct industrial visits in a bid to achieve reliable and accurate information from established market participants. One of our foremost objectives is to keep the client well-versed with all the lucrative opportunities as well as challenges surrounding various global markets. We offer step-by-step guidance to our clients, through consulting and strategic services, enabling them to arrive at a practical and effective decision.
Contact us:
Market Research Future (part of Wantstats Research and Media Private Limited),
99 Hudson Street, 5Th Floor,
New York, New York 10013
United States of America
+1 628 258 0071
Email: [email protected]
