Global Edible Animal Fat market growth 2024, Forecast To 2033
30 Jan, 2024
The edible animal fat market has experienced robust growth, progressing from $28.09 billion in 2023 to $29.58 billion in 2024, marked by a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period is attributed to food industry demand, the growth of meat production, consumer preferences, price considerations, and the availability of alternatives in export markets. Envisaging continued strong growth in the next few years, the market size is projected to reach $36.45 billion in 2028, sustained by a consistent CAGR of 5.4%. Factors contributing to this growth include a focus on health-conscious consumers, a demand for alternative fat sources, sustainable sourcing, a preference for clean label and natural ingredients, and customization and specialty fats. Major trends in the forecast period include premium and gourmet offerings, an increased focus on alternative fat sources, artisanal and traditional practices, culinary and flavor innovation, and considerations for animal welfare and ethics.
Global Edible Animal Fat Market Key Driver
The edible animal fats market is set to grow with the increasing adoption of edible animal fats in the food industry. In 2021, the combined production of pork, beef, mutton, and poultry meat increased by 22.4%, as reported by the North American Renderers Association. The delectable flavor and cooking benefits drive the demand for edible animal fats.
Get A Free Sample Of The Global Edible Animal Fat Market ReportGlobal Edible Animal Fat Market Segments
The global edible animal fat market covered in this report is segmented –
1) By Type: Liquid, Solid, Semi-Solid
2) By Source: Pig, Cattle, Other Sources
3) By Application: Culinary, Bakery And Confectionery, Savory Snacks, R.T.E Foods/Convenience Foods, Bio-Diesel, Other Applications
By Geography: The regions covered in the Edible Animal Fat market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas the largest region in the edible animal fat market in 2023. The regions covered in the edible animal fat market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Edible Animal Fat Industry Players
Ten Kate Holdings B.V., Cargill Incorporated, Darling Ingredients Inc., Archer Daniels Midland Company, Bunge Limited, Baker Commodities Inc., PIERMEN B.V, SARIA A/S GmbH & Co KG, Sanimax USA LLC, BRF S.A., Colyer Fehr Tallow Pty Ltd., Tyson Foods Inc., Smithfield Foods Inc., Hormel Foods Corporation, Conagra Brands Inc., Kerry Group plc, Wilmar International Limited, Unilever PLC, Nestle S.A., Sanderson Farms Inc., JBS USA Holdings Inc., Perdue Farms Inc., Maple Leaf Foods Inc., West Liberty Foods LLC, Pilgrim's Pride Corporation
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Edible Animal Fat Market Overview
Edible animal fat refers to consumable animal fats obtained from animals that have been bred, reared, slaughtered, and processed specifically for humans. Animal fats are primarily used in the manufacture of margarine, shortening, and compound fat. They can also be found in a variety of processed foods. Animal fats are used in the production of soaps, fatty acids, lubricants, and feedstuffs, among other things.
Edible Animal Fat Global Market Report 2023 provides data on the global edible animal fat market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The edible animal fat market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.