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Edible Animal Fat Global Market to Observe Highest Growth at $36.45 Billion By 2028 with an Excellent CAGR of 5.4%.
Edible Animal Fat Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Edible Animal Fat industry. This report on Edible Animal Fat market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
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%.
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Key Market Players:
Ten Kate Holdings B.V., Cargill Incorporated, Darling Ingredients Inc., Archer Daniels Midland Company, Bunge Limited, The Progressive Corporation are prominent players in the Edible Animal Fat industry.
Market Drivers:
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%.
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Market segments for Edible Animal Fat include:
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
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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