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Edible Animal Fat Market Overview
The edible animal fat market will grow vibrantly during the next few years. The rising consumption of edible animal fat in the burgeoning pharmaceuticals and personal care industries would accelerate the market size. Market Research Future (MRFR) confirms that the global edible animal fat market value is poised to grow to USD 60.4 BN by 2030, registering a 4.50% CAGR during the forecast period (2022-2030).
Edible animal fat is a great source of fatty acids, vitamins, and energy. In food industries, it is used to help improve the flavor and texture of meals. Additionally, animal fats provide high levels of oleic acid, linked to several health advantages. Many food processors and bakers prefer these fats, like tallow and butter, due to their delicious flavor and superior baking & frying capabilities.
The increasing consumption and demand for edible animal fat from the food industry is a key growth driver. Besides, the rising demand for high nutritional value products in developing countries boosts the edible animal fat market revenues. The increasing consumption of bakery, confectionery, and savory snacks worldwide creates significant growth opportunities.
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Global Edible Animal Fat Market – Competitive Landscape
The market includes tier-1 and tier-2 players, having a global reach with diverse product portfolios. Companies invest in product differentiation, strategic developments, financial stability, and diversified regional presence. The players concentrate on R&D and strategic growth initiatives, such as development, product introduction, joint ventures, and partnerships, to strengthen their market position and capture an extensive customer base.
Major Players
Prominent edible animal fat market players include Baker Commodities Inc. (US), Saria SE and Co. K.G. (Germany), Darling Ingredients Inc. (United States), Ten Kate Holding B.V. (Netherlands), York Foods Pty Ltd. (Australia), Colyer Fehr Tallow Pty Ltd. (Australia), and Cargill Incorporated (US), among others.
Global Edible Animal Fat Market – Segments
The market report is segmented into raw materials, forms, applications, and regions. The raw material segment is sub-segmented into lard and tallow. The form segment is sub-segmented into liquid, solid, and semi-solid. The application segment is sub-segmented into culinary, bakery & confectionery, savory snacks, e-foods/convenience foods, biodiesel, and animal feed. By region, the edible animal fat market is segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Edible Animal Fat Market – Regional Analysis
North America dominates the global edible animal fat market. The growing consumption of edible animal fat in the food and non-food industries drives market growth. Also, the growing use of tallow to produce animal feed substantiates the edible animal fat market size. Besides, the large consumption of beef and animal body parts supports the region’s edible animal fat market share. The increasing preference for plant-based meat products will drive the market.
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Industry/ Innovation /Related News:
Mar 01, 2023 — Cargill announced a partnership with Cubiq Foods, a leading alternative fat producer, to accelerate the development of Cubiq’s plant-based fat technologies and bring them to market. Under the agreement, Cargill will add plant-based oils to its ingredient portfolio to help co-develop and release innovations based on Cubiq’s technology.
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