Global Beef Fat Market Size 2024, Forecast To 2033
6 Mar, 2024
The beef fat market size has grown strongly in recent years. It will grow from $42.17 billion in 2023 to $45.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increased livestock production trends, the regulatory environment, health and nutritional trends, economic factors. The beef fat market size is expected to see strong growth in the next few years. It will grow to $61.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The growth in the forecast period can be attributed to emerging consumer trends, sustainability initiatives, regulatory changes, health and wellness focus, global economic trends. Major trends in the forecast period include technological innovations, processing technologies, global economic factors, global supply chain dynamics, sustainability, and ethical practices.
Global Beef Fat Market Key Driver
The beef fat market is anticipated to experience significant growth, fueled by the rapid expansion of the food and beverage industries worldwide. Beef fat serves various purposes in the food and beverage sector, including its use as a cooking fat and a substitute for butter and oil. It enhances meat flavor, increases water-holding capacity during cooking by lubricating muscle fibers, and offers high nutrition absorption. For instance, according to the Food and Drink Federation, the United Kingdom's food and beverage industry stands as the largest manufacturing sector, surpassing automotive and aerospace combined. Over 97% of the 11,675 food and beverage manufacturing companies in the UK are small and medium-sized enterprises (SMEs). Moreover, in 2021, the industry witnessed a 4.2% increase in output, estimated at £30 billion ($37.3 billion), with a total turnover of £112 billion ($139.3 billion) and domestic sales of £100 billion ($124.4 billion). Thus, the rapid growth of the food and beverage industries drives the beef fat market's growth.
Get A Free Sample Of The Global Beef Fat Market ReportGlobal Beef Fat Market Segments
The beef fat market covered in this report is segmented –
1) By Product Type: Solid, Paste
2) By Application: Biodiesel, Animal Feed, Oleo Chemical, Food Industry, Other Applications
3) By Distribution Channel: Business To Business, Hypermarkets Or Supermarkets, Retail Stores, Online Stores, Other Distribution Channels
By Geography:The regions covered in the beef fat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the beef fat market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global beef fat market report during the forecast period. The regions covered in the beef fat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Beef Fat Industry Players
Windsor Quality Meats Pty Ltd, Tassie Tallow, US Wellness Meats LLC, Pridham Pty Ltd, Cargill Incorporated, BRF SA, Piermen BV, Fat Cow Gourmet Meats, Tridge, Ianq Overseas Private Limited, Jacob Stern & Sons Inc., Hormel Foods Corporation, JBS SA, Clemens Food Group, Conagra Brands Inc., Minerva Foods SA, Wellness Beefs, Indian Feeds Company Private Limited, SBH Foods Limited, Mercomeat SA, Devra Trading Limited, Darling Ingredients Inc., The Procter & Gamble Company, Bunge Limited, Archer Daniels Midland Company, Olenex BV, Zeelandia Group BV, Puratos Group NV/SA, Princes Limited, HAS Group AS, Namchow Chemical Industrial Co Ltd., NMGK Group, FUJI OIL Co LTD., Yildiz Holding AS, Wilmar International Limited
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Beef Fat Market Overview
Beef fat is made from beef, which is high in triglycerides. It is solid at room temperature and melts at around 50 degrees and is a rich source of fats with EPA and DHA (omega-3 fatty acids). It is used as a major dietary source of conjugated linoleic acid (CLA) to promote various health benefits such as antioxidants, lowering cardiovascular risk, protecting against atherosclerosis, and boosting the immune system.
Beef Fat Global Market Report 2023 provides data on the global beef fat market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The beef fat market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.