Beef Fat Market Growth Surges: Reaches $45.35 Billion in 2024, Set to Reach $61.59 Billion by 2028 with 8.0% CAGR

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, 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.

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.

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Surging Demand For Beef Fat In The Thriving Food And Beverage Industries
The rapid growth of the food and beverage industries is expected to boost the growth of the beef fat market going forward. Beef fat is used food and beverage industry as a cooking fat and a substitute for butter and oil, increasing meat's water-holding capacity by lubricating the muscle fibers during cooking, enhancing the flavor of meat, and other advantages such as high nutrition absorption. For instance, according to the report published by Food and Drink Federation, a UK-based organization that represents and advises UK food and drink manufacturers, the food and beverage business is the largest manufacturing sector in the United Kingdom, larger than automotive and aerospace combined, over 97% of the 11,675 food and beverage manufacturing companies are small and medium-sized enterprises (SMEs). Whereas, in 2021, industry output was estimated at £30 billion ($37.3 billion), a 4.2% increase over the previous year, with a total turnover of £112 billion ($139.3 billion) and domestic sales of £100 billion ($124.4 billion). Therefore, the rapid growth of the food and beverage industries is driving the growth of the beef fat market.

Competitive Landscape -
Major companies operating in the beef fat market report are 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

Transformative Non-Animal Fat With Beef-Like Properties For The Plant-Based Food Sector
Product innovations are a key trend gaining popularity in the beef fat market. Major market players are concentrating their efforts on creating innovative products to strengthen their position in the market. For instance, in May 2022, Metl&Marble, a Sweden-based biotechnology company, launched Non-animal Fat with the properties and taste of beef fat, specifically designed for the plant-based food sector. Melt&Marble's non-animal fat aims to bridge this gap by offering a plant-based alternative with the same sensory qualities as beef fat. This could significantly improve the taste and texture of plant-based burgers, sausages, and other meat alternatives.

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Key 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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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