PUBLISHER: The Business Research Company | PRODUCT CODE: 1391177
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391177
“Edible Animal Fat Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on edible animal fat market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for edible animal fat? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The edible animal fat market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Edible animal fat refers to consumable fats derived from animals specifically bred, raised, slaughtered, and processed for human consumption. These fats play a prominent role in the production of margarine, shortening, compound fat, and are commonly found in various processed foods. Additionally, animal fats are utilized in the manufacturing of soaps, fatty acids, lubricants, and feedstuffs.
The primary types of edible animal fat include liquid, solid, and semi-solid forms. Liquid edible animal fats are sourced from various animals, with marine sources often providing oils rich in unsaturated fatty acids. Common sources of liquid fats include pigs, cattle, and others. These fats find application in a variety of sectors, including culinary, bakery and confectionery, savory snacks, ready-to-eat foods/convenience foods, bio-diesel production, and other diverse applications.
The edible animal fat market research report is one of a series of new reports from The Business Research Company that provides edible animal fat market statistics, including edible animal fat industry global market size, regional shares, competitors with an edible animal fat market share, detailed edible animal fat market segments, market trends and opportunities, and any further data you may need to thrive in the edible animal fat industry. This edible animal fat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The edible animal fat market size has grown strongly in recent years. It will grow from $28.09 in 2023 to $29.58 in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth observed in the historical period can be attributed to several key factors, including increased demand from the food industry, growth in meat production, evolving consumer preferences, considerations related to the price and availability of alternatives, and expansion into 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 in 2028 at a compound annual growth rate (CAGR) of 5.4%. The anticipated growth in the forecast period can be attributed to factors such as an increasing number of health-conscious consumers, a rising interest in alternative fat sources, a growing emphasis on sustainable sourcing, the preference for clean label and natural ingredients, and a demand for customization and specialty fats. Major trends expected in the forecast period encompass the emergence of premium and gourmet offerings, the exploration of alternative fat sources, the revival of artisanal and traditional practices, innovations in culinary techniques and flavors, and an increased focus on animal welfare and ethical considerations within the industry.
The edible animal fats market is anticipated to experience growth due to the increasing adoption of these fats in the food industry. Edible animal fats are valued for their delectable flavor and exceptional cooking and baking properties, making them widely used in food production. According to articles published by the North American Renderers Association (NARA) in November 2021, the combined production of pork, beef, mutton, and poultry meat reached 64.28 million tons, showcasing a substantial year-on-year increase of 22.4%. Notably, mutton, beef, and poultry meat production experienced respective increases of 5.3%, 3.9%, and 3.8%. This surge in meat production indicates a growing demand for edible animal fats in the food industry, thereby driving the market.
The growth of the edible animal fat market is further propelled by the rising consumption of bakery products. Bakery products, including bread, rolls, cookies, pies, pastries, and muffins, often incorporate animal fats for their functional roles in binding ingredients, providing moisture, and acting as leavening agents. These functionalities are crucial for achieving the desired characteristics in various bakery items. According to a report published by the American Bakers Association in May 2021, fresh bakery products, including cakes (+10.3%) and croissants (+16.3%), saw mixed first-quarter dollar sales in 2021. The increasing consumption of bakery products is expected to contribute significantly to the growth of the edible animal fat market.
A notable trend in the edible animal fat market is the expansion of manufacturing facilities by key players. Manufacturers in the market are actively focusing on expanding their production facilities to meet the increasing demand for high-quality products. 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. The expansion aims to produce a range of specialty fats for various applications, including chocolates, coatings, fillings, compounds, spreads, and bakery fats. Plant expansion is a key trend that reflects the industry's commitment to meeting market demands and enhancing product offerings in the edible animal fat market.
Major players in the edible animal fat market are actively focusing on facility expansion as a strategic move to enhance product quality and meet the growing market demand. In September 2022, Hoxton Farms, a UK-based developer of cultivated animal fat, announced a substantial $22 million facility expansion in the heart of London. This expansion is geared towards driving research efforts, facilitating the scaling up of production for the industry, and fostering collaborations with plant-based companies and supermarket chains for prototype development.
In December 2021, Darling Ingredients Inc., a US-based developer and producer of sustainable natural ingredients from edible and inedible bio-nutrients, made a significant acquisition by acquiring Valley Proteins Inc. for USD 1.1 billion. With this strategic acquisition, Darling Ingredients anticipates accretive benefits post-integration. The acquisition enhances Darling's global supply of waste fats and greases by incorporating Valley Proteins' contribution. Valley Proteins Inc., a leading exporter of poultry-based fats and proteins to feed manufacturers, as well as renewable energy ingredients for the biofuel industry, brings valuable assets to Darling's portfolio through this acquisition.
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
Asia-Pacific was the largest region in the edible animal fat market in 2023. The regions covered in the edible animal fat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the edible animal fat market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The edible animal fat market consists of sales of meat products, margarine, bakery products, sauces, and soup. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.