The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Edible Animal Fat Global Market Report 2024, the edible animal fat market is expected to show significant growth in the forecast period.

The edible animal fat market has exhibited robust growth, advancing from $28.09 billion in 2023 to an anticipated $29.58 billion in 2024, with a commendable Compound Annual Growth Rate (CAGR) of 5.3%. This growth surge is attributed to the increasing demand within the food industry, burgeoning meat production, consumer preferences, as well as the price and availability dynamics of alternatives in the market.

Driving Forces Behind Past Growth

• Food industry demand for edible animal fats.
• Growth in meat production.
• Consumer preferences for animal fats.
• Price and availability of alternatives.
• Expansion into export markets.

Future Projections: A Gastronomic Journey

Anticipated Growth Trajectory

• The edible animal fat market is poised for robust expansion in the coming years.
• Expected to reach $36.45 billion by 2028, with a projected CAGR of 5.4%.

Catalysts for Future Growth

• Health-conscious consumers driving demand.
• Surge in alternative fat sources.
• Emphasis on sustainable sourcing practices.
• Clean label and natural ingredients gaining popularity.
• Customization and specialty fats on the rise.

Trends Shaping the Forecast Period

• Premium and gourmet offerings in edible animal fats.
• Diversification into alternative fat sources.
• Embracing artisanal and traditional production practices.
• Culinary and flavor innovation in animal fats.
• Considerations for animal welfare and ethical sourcing.

Gastronomic Marvel: Growing Adoption in the Food Industry

Key Growth Driver

• The food industry’s increasing adoption of edible animal fats is a pivotal factor fueling market growth.
• Edible animal fats are valued for their delectable flavor and exceptional cooking and baking properties.
• Notably, the combined production of pork, beef, mutton, and poultry meat reached an impressive 64.28 million tons, witnessing a substantial year-on-year increase of 22.4%.

Industry Giants Fueling Market Growth

• Ten Kate Holdings B.V., Cargill Incorporated, Darling Ingredients Inc., Archer Daniels Midland Company, Bunge Limited, and others.

Plant Expansion: A Flourishing Trend

Facility Expansion as a Market Trend

• Plant expansion emerges as a significant trend in the edible animal fat market.
• Manufacturers are strategically expanding their facilities to meet the growing demand for superior products.
• In a notable instance, Cargill Inc. announced a $35 million expansion of its Port Klang production facility in Malaysia, focusing on specialty fats for various applications.

Strategic Acquisition Spurs Growth

• Darling Ingredients Inc. acquired Valley Proteins Inc. for USD 1.1 billion in December 2021.
• The acquisition is expected to strengthen Darling Ingredients’ global supply of waste fats and greases.
• Valley Proteins Inc. is renowned for exporting poultry-based fats and proteins to feed manufacturers and providing renewable energy ingredients for the biofuel industry globally.

Market Segmentation for Precision Solutions

1. Type: Liquid, Solid, Semi-Solid.
2. Source: Pig, Cattle, Other Sources.
3. Application: Culinary, Bakery And Confectionery, Savory Snacks, R.T.E Foods/Convenience Foods, Bio-Diesel, Other Applications.

Regional Dynamics

• Asia-Pacific emerged as the largest region in the edible animal fat market in 2023.

View More On The Edible Animal Fat Market Report 2024 – https://www.thebusinessresearchcompany.com/report/edible-animal-fat-global-market-report

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The Edible Animal Fat Global Market Report 2024  provides an in-depth analysis on the edible animal fat market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the edible animal fat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

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