The Edible Animal Fat Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Edible Animal Fat Global Market Report 2024, The edible animal fat market size has grown strongly in recent years. It will grow from $28.09 billion in 2023 to $29.58 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to food industry demand, meat production growth, consumer preferences, price and availability of alternatives, export markets.
The edible animal fat market size is expected to see strong growth in the next few years. It will grow to $36.45 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to health-conscious consumers, alternative fat sources, sustainable sourcing, clean label and natural ingredients, customization and specialty fats. Major trends in the forecast period include premium and gourmet offerings, alternative fat sources, artisanal and traditional practices, culinary and flavor innovation, animal welfare and ethical considerations.
The increasing adoption of edible animal fats in the food industry is expected to drive the edible animal fats market. Because of their delectable flavor and outstanding cooking and baking abilities, edible animals are being adopted in food production and the food industry. For instance, in November 2021, according to the articles published by the North American Renderers Association (NARA), a US-based association, the combined production of pork, beef, mutton, and poultry meat has reached 64.28 million tons, marking a substantial year-on-year increase of 22.4%. Furthermore, the production of mutton, beef, and poultry meat saw respective increases of 5.3%, 3.9%, and 3.8%. Therefore, the increasing adoption of edible animal fats in the food industry will raise the demand for edible animal facts and hence drive the market.
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The 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
Plant expansion is a key trend gaining popularity in the edible animal fat market. The manufacturers in this market are focusing on expanding their facilities to produce better products to meet the market demand. For instance, in November 2021, Cargill Inc., a US-based food corporation announced a $35 million expansion of its Port Klang production facility in Malaysia. At the facility, the company plans to produce a range of specialty fats for use in chocolates, coatings, fillings and compounds, spreads, bakery fats and other applications.
The edible animal fat market report table of contents includes:
1. Executive Summary
2. Edible Animal Fat Market Characteristics
3. Edible Animal Fat Market Trends And Strategies
4. Edible Animal Fat Market – Macro Economic Scenario
5. Global Edible Animal Fat Market Size and Growth
…
31. Global Edible Animal Fat Market Competitive Benchmarking
32. Global Edible Animal Fat Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Edible Animal Fat Market
34. Edible Animal Fat Market Future Outlook and Potential Analysis
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