Edible Animal Fat Market 2024: Size, Competitive Landscape, Upcoming Trends, and Outlook Until 2033

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.

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.

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Growing Adoption Of Edible Animal Fats In The Food Industry Fuels Market Expansion
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.

Competitive Landscape -
Major companies operating in the edible animal fat market include 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

Growing Emphasis On Facility Expansion In The Edible Animal Fat Market
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.

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Key Segments -
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

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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