Know Worldwide specifications of the Global Animal Fats and Oils Market Size 2023-2033 | Top Key Players: Darling Ingredients Inc., IOI Corporation Berhad, Ventura Foods, LLC, BRF S.A., Ajinomoto Co., Inc., Premium Vegetable Oils Sdn Bhd, AAK AB, Conagra

According to a research report published by Spherical Insights & Consulting, the Global Animal Fats and Oils Market is Expected to Grow from USD 276.98 Billion in 2023 to USD 589.58 Billion by 2033, at a CAGR of 7.85% during the forecast period 2023-2033.

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The animal fats and oils market represent the processing and distribution of animal fats and oils. Such animal fats and oils are sourced mostly from tissues and organs as well as the fat tissues of such animals as bovine cattle, pork of swine, fowl chicken and turkey, and also fish. It is very varied in applications throughout food, pharma, cosmetics, biofuels, and even industrial purposes. Moreover, the demand for animal fats is on the rise due to the growing preference of consumers to eat processed foods, including snacks, ready-to-eat meals, and fast foods. These animal fats are used in preparation, frying, and preservation processes, mainly because it provides a desirable taste, texture, and long shelf life. Increased demand to use biofuels instead of fossil fuels has pushed animal fats such as tallow and poultry fats for biodiesel as feedstocks. However, while animal fats are increasingly adopted in certain diets, their massive saturated fats lead to various severe health problems by increasing the chance of heart-related diseases and so on. These factors make plant-based oils, such as olive oil or avocado oil, appear healthier, and consumers are now favoring these oil types.

The bovine fats and oils segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period.

Based on the source, the animal fats and oils market is divided into bovine fats and oils, poultry fats and oils, pork fats and oils, fish fats and oils, and others. Among these, the bovine fats and oils segment accounted for the highest share in 2023 and is projected to grow at a substantial CAGR during the forecast period. The growth is attributed to bovine fat being one of the most readily available animal fats because of beef processing. Thus, it finds widespread use in food production and biofuels. Bovine fats are commonly used by the food industry in frying, cooking, and flavoring, mainly in beef tallow. Tallow is very resistant to high-temperature cooking processes due to its smoke point, hence being used in deep frying and baked goods.

The tallow segment dominated the market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the form, the animal fats and oils market is divided into tallow, lard, poultry fat, fish oil, butterfat, and others. Among these, the tallow segment dominated the market in 2023 and is anticipated to grow at a significant CAGR during the forecast period. The segmental growth is due to its large volumes produced as animal waste from many slaughterhouses; it is probably one of the most inexpensive sources of animal fat. This made tallow rather appealing to fat- and oil-requiring industries due to cost.

The food industry segment accounted for the largest share in 2023 and is expected to grow at a remarkable CAGR during the forecast period.

Based on the application, the animal fats and oils market is divided into the food industry, industrial uses, animal feed, pharmaceuticals, and others. Among these, the food industry segment accounted for the largest share in 2023 and is expected to grow at a remarkable CAGR during the forecast period. The growth is attributed due to the heavy application of animal fats and oils during food preparation and processing. Commonly applied fats include animal fat such as lard, tallow, and poultry fat for cooking, frying, or baking purposes due to their appealing attributes such as texture, flavor, and long shelf life that add to food products.

Asia Pacific holds the majority share of the global animal fats and oils market during the forecast period.

Asia Pacific holds the majority share of the global animal fats and oils market during the forecast period. Asia-Pacific has recorded some of the highest levels of meat consumption, particularly in these countries: China, India, and Japan. Pork, beef, and poultry are consumed enormously, and meat consumption is continuously growing due to rising incomes and changing diets within an increasingly urbanized population. The high meat production ensures that steady and growing supplies of animal fats are made available for use in food, industry, and biofuels.

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North America is estimated to grow at the fastest pace in the global animal fats and oils market during the forecast period. The United States and Canada are among the biggest producers of beef and pork. This indicates a steady supply of animal fats in the form of byproducts of meat production, such as tallow, lard, and poultry fat. High meat production is primarily reason animal fats are prominent in this region's market.

Major vendors in the global animal fats and oils market are Bunge Limited, Archer Daniels Midland Company, Cargill, Incorporated, Wilmar International Limited, Tyson Foods, Inc., JBS S.A., Darling Ingredients Inc., IOI Corporation Berhad, Ventura Foods, LLC, BRF S.A., Ajinomoto Co., Inc., Premium Vegetable Oils Sdn Bhd, AAK AB, Conagra Brands, Inc., Richardson International Limited, Others.

Key Target Audience

Market Players
Investors
End-users
Government Authorities
Consulting and Research Firm
Venture capitalists
Value-Added Resellers (VARs)

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Key Market Development
In December 2024, high demand from other industries boosted prices of EU animal fats by 5-10%, helped by the strength of seasonal rendering activity and factors related to the regulation of vegetable oil supply.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the animal fats and oils market based on the below-mentioned segments:

Global Animal Fats and Oils Market, By Source

Bovine fats and oils
Poultry fats and oils
Pork fats and oils
Fish fats and oils
Other

Global Animal Fats and Oils Market, By Form
Tallow
Lard
Poultry Fat
Fish Oil
Butterfat
Others

Global Animal Fats and Oils Market, By Application
Food Industry
Industrial Uses
Animal Feed
Pharmaceuticals
Others

Global Animal Fats and Oils Market, By Regional Analysis
North America
US
Canada
Mexico

Europe
Germany
UK
France
Italy
Spain
Russia
Rest of Europe

Asia Pacific
China
Japan
India
South Korea

Australia
Rest of Asia Pacific
South America
Brazil
Argentina
Rest of South America

Middle East & Africa
UAE
Saudi Arabia
Qatar
South Africa
Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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This release was published on openPR.