Edible Animal Fat Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2028
COVID-19 Impact: Market Exhibited a Sluggish Growth Rate of 15% in 2020
The shutdown of convenience stores and halted industrial operations have led to the slowdown of the market. The animal husbandry sector has also suffered owing to the lockdown announced by government agencies worldwide. These factors led to the market suffering from a falling growth rate of 15% in 2020.
Key Market Segmentation:
Based on type, the global market is segregated into butter, lard, tallow, and others. On the basis of source, the market is categorized into cattle, pig, and others. Moreover, on the basis of application, the market is bifurcated into food and non-industry.
Based on application, the food segment is expected to experience considerable growth backed by the increasing adoption of animal by-products in several food applications across the globe.
Lastly, on the basis of region, the market is segmented into Asia-Pacific, North America, Europe, Latin America, the Middle East and Africa.
Get Sample PDF Brochure:
What does the Report Include?
The global market for the edible animal fat report includes a detailed analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, which are contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, and collaborate that will further contribute to the market growth between 2021 and 2028. Moreover, the research analyst has adopted several research methodologies such as PESTEL and SWOT analysis to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.
Increasing Preference for Sustainable Animal Fat Oil to Aid Growth
The increasing awareness regarding the health benefits of sustainable animal fat oil such as fish oil is expected to boost its consumption across the globe. Fish oil contains Omega-3 fatty acids that are termed as vital nutrients, which aid in the prevention and management of heart ailments. Moreover, the carbon footprint of animal fat oil is far less compared to vegetable oils. Therefore, the increasing adoption of animal fat is expected to contribute to the global edible animal fat market growth in the forthcoming years.
Asia-Pacific to Remain Dominant; Increasing Consumption of Butter to Aid Growth
Among all the regions, Asia-Pacific is expected to remain at the forefront and hold the largest global edible animal fat market share in the forthcoming years. This is attributable to the increasing consumption of butter and lard as they are perceived as healthy food products in countries such as India, China, and Australia. Asia Pacific stood at USD 12.64 billion in 2020.
The market in North America is expected to showcase considerable growth backed by the increasing adoption of edible animal fat in the food and non-food industry. For instance, butter is consumed in large quantities by consumers in countries such as the U.S. Moreover, tallow is adopted in industrial application to produce animal feed.
Browse Detailed Summary of Research Report with TOC:
Facility Expansion by Major Companies to Intensify Industry Competition
The global market for edible animal fat comprises small, medium, and large companies striving to maintain their stronghold by focusing on expanding their facilities to cater to the growing demand from several industrial verticals. Moreover, other key players are striving to maintain their presence by adopting strategies such as collaborations and partnerships to gain a competitive edge over their rivals in the global marketplace.
Key Industry Development:
July 2019 - PTUE SARIA, a part of the SARIA Group, announced the development of a new production facility in Belarus. The company reports that EBRD will be providing them with an overall loan of EURO 17 million to develop the facility. This is expected to increase its production facility and manufacture high-quality animal by-products that will enable it to strengthen its position in the European market.
List of the Companies Profiled in the Global Edible Animal Fat Market:
Ten Kate Holdings (Musselkanaal, Netherlands)
Cargill, Inc. (Wayzata, United States)
Darling Ingredients, Inc. (Irving, United States)
Archer Daniels Midland Company (Chicago, United States)
Bunge Limited (Chesterfield, United States)
Sanimax (Montréal, Canada)
Baker Commodities Inc. (Vernon, United States)
York Foods Pty Ltd (Goulburn, Australia)
Saria Group (Selm, Germany)
Colyer Fehr Tallow Pty Ltd. (Mount Druitt, Australia)
Inquire Before Buying This Research Report:
Fortune Business Insights Pvt. Ltd.
9th Floor, Icon Tower,
Baner - Mahalunge Road, Baner,
Pune-411045, Maharashtra, India.
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Connect us via Social Media Channels:
LinkedIn Facebook Twitter Blogs
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Edible Animal Fat Market Trends, Growth, Size, Segmentation, Future Demands, Latest Innovation, Regional Forecast to 2028 here
News-ID: 2558047 • Views: 104
More Releases from FORTUNE BUSINESS INSIGHTS
Carbon Black Market price is expected to showcase considerable growth by reachin …
As Per Report Published By Fortune Business Insights™ the global carbon black market price is expected to showcase considerable growth by reaching USD 17,027.1 million by 2027 while exhibiting a CAGR of 4.4% between 2020 and 2027. This growth is attributed to the rising rubber industry and the increasing incidence of road fatalities that is propelling the demand for advanced carbon black globally. This information is published by Fortune
Document Capture Software Market Industry Analysis, Size, Share, Trends, Demand, …
The global document capture software market size is expected to gain momentum from the increasing demand for Software-as-a-service based documents and software solutions. An unpublished report by Fortune Business Insights titled, "Document Capture Software Market Size, Share & Industry Analysis, By Deployment (On-Premise, Cloud-Based), By Solution (Multiple-channel Capture, Cognitive Capture, Mobile Capture), By Application Area (Retail, Banking, BFSI, Healthcare, IT, Telecom, Government, Other) and Regional Forecast, 2021-2028," discusses the prime
Oleochemicals Market size is expected to reach USD 52.04 billion by 2028 | Know …
The global oleochemicals market size is expected to reach USD 52.04 billion by 2028, exhibiting a CAGR of 6.4% between 2021 and 2028. The growing emphasis on natural oils & fats obtained from living feedstock, including plants, animals, and oilseeds, will enable speedy expansion of the market, states Fortune Business Insights, in a report, titled "Oleochemicals Market, 2021-2028." The market size stood at USD 31.42 billion in 2020. Get Sample PDF
Acrylonitrile Butadiene Styrene Market share is projected to reach USD 42,809.5 …
The global acrylonitrile butadiene styrene market share is projected to reach USD 42,809.5 million by 2027, exhibiting a CAGR of 6.9% during the forecast period. The phenomenal growth in the global construction industry will be a prime growth driver for this market, states Fortune Business Insights™ The construction industry has entered a phase of prolific expansion due to the rapid growth in world population and the proliferation of residential and
More Releases for Animal
Animal Model Market trends, Animal Model Market growth, Animal Model Market size …
Key Findings of Animal Model Market Developing Regions to Overpower Developed Ones With Regard to Demand The Asian territory is on the verge of evolving as the next big destination for animal models. This growth can be attributed to various factors such as American and European pharmaceutical companies diversifying their research activities to curtail extra expenses and save costs. Although U.S and Europe have retained their legacy in the global market, their
Animal Growth Promoter Market Outlook To 2023 – Bayer Animal Health, Biomin, B …
Nov 2018, New York USA (News)- Different categories of feed additives for farm animals are referred to as natural growth promoters (NGPs) or non-antibiotic growth promoters. They are commonly regarded as favorable alternatives to antibiotic growth promoters (AGPs) in livestock production. NGPs include predominantly organic acids, probiotics, prebiotics, synbiotics, phytogenics, tannins, feed enzymes and immune stimulants, an ongoing search for alternatives has created a large variety of NGPs for pigs,
Animal Antimicrobials and Antibiotics Market Key Players : Animal Health, Bayer …
The term antibiotic or antimicrobial is used for those agents who kill or inhibit the growth of microorganism. The antimicrobials products have significant benefits to the animal and to human food safety. There are researches, which have proven that an increase in the rate of animal illness results in higher rate of human illness. Therefore, livestock dealers depend on animal antibiotics to provide safe food. The scope of this report
Animal Hormones Market Brief Analysis By Top Key Players - Bayer Animal Health, …
MarketStudyReport.com adds a new 2018-2023 Global Animal Hormones Consumption Market Report focuses on the major drivers and restraints for the global key players providing analysis of the market share, segmentation, revenue forecasts and geographic regions of the market. This report presents a comprehensive overview, market shares, and growth opportunities of Animal Hormones Market by product type, application, key manufacturers and key regions. Over the next five years, Animal Hormones market will
Global Animal Healthcare Market 2018 Key Players: Merck, Bayer Animal Health, Bo …
Animal Healthcare Market: WiseGuyReports.com adds “Animal Healthcare Market 2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2025” reports to its database. Executive Summary This report studies the global Animal Healthcare market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Animal Healthcare market by companies, region, type and end-use industry. This report focuses on the global top players, covered Merck Bayer Animal Health Boehringer Ingelheim Animal Hipra Phirbo Animal
Companion Animal Healthcare Market 2023 Leading Players | Bayer Animal Health (G …
The Global Companion Animal Healthcare Market is expected to reach USD 20 billion by 2023 at a CAGR of 9.6% during forecast period 2017 to 2023. Companion animals are pets which are kept for protection of a person, company, property or residence. These animals help to avoid theft and render safe environment. Dog and cats are the most popular pets. Companion animals play an important role in the lives of many,