Edible Animal Fat Market Research Report by Raw Material (Lard, Tallow and others), Form (Liquid, Solid and Semi-Solid), Source (Cattle, Pig, others (Poultry, Sheep, Goat and Fish)), Application (Culinary, Bakery & Confectionery, Savory Snacks, R.T.E Foods/Convenience Foods) and Region Forecast Till 2023
Pune, India -- (SBWIRE) -- 09/06/2018 -- Market Overview:
The global market for edible animal fat has witnessed continued demand during the last few years and is projected to reach USD 19,482 million at a CAGR of 2.93% by 2023. Increasing global demand for edible animal fat for culinary purpose as well as for production of bio-diesel is likely to drive the global edible animal fat market over the forecast period.
The application of tallow is vital in the production of biodiesel which has encouraged the manufacturers to enhance their production capacities. Rising production of vital animal by-products has also increased the market share of edible animal fats on a global level. Technological advancements and production of animal based products for biodiesel and for human consumption are the major drivers for global edible animal fat market. However, stringent production related regulations and consumers' ethical reasons in some regions against consumption of animal products might confine the growth of this market. Due to diverse applications of edible animal fat, the market is growing at an incremental pace of development globally.
Rendering of animals is done majorly to obtain fats which are ether for human consumption or for the production of bio-fuel. Product improvisations and processing protocol developments are also adding fuel to the growth of this market. Advancements in technology and consumers fast paced life-style has escalated the demand for such products. Tallow is majorly used in the production of bio-diesel whereas lard is used for the production of bakery goods such as shortenings. Diverse applications are observed to boost the market growth of edible animal fat market.
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Latest Industry Updates:
Aug 2017 Fatworks- one of the key players in the edible animal fats market has announced their production of Leaf Lard which is considered to be the highest grade of various types of lard. The company aims to sustain their consumer base as well as to capture new consumer base by focusing more on new product launch.
June 2017 In order to expand their animal by-products business, SARVAL GmbH, a subsidiary of the SARIA Group announced their merger with Fischermanns GmbH & Co. KG. Rising demand for vital products obtained as animal by-products have encouraged the companies to join their forces.
Mar 2017 Teeuwissen- a part of SARIA Group merged with Van Hessen Group in order to expand their production of animal by-products which majorly include natural casings. These are used for the production of essential animal fat based by-products.
Mar 2016 In order to expand their meat business along with strategy to enhance their edible animal fat production, Cargill acquired a ground beef processing plant located in Columbia, South Carolina, from FPL Food LLC.
Major Key Players Analysis:
With the entry of industry players in the edible animal fat segment, a trend of solid, volume-driven growth has been observed in the market with the development of different varieties of product types. Key players are focusing majorly on new product development in order to sustain in the global edible animal fat market. The best long-term growth opportunities for this sector can be captured by ensuring ongoing investments in the R&D, and acquisition of small players in order to increase the production capacity.
The key players profiled in Edible Animal Fat are Saria Se & Co. KG (Germany), Darling Ingredients Inc. (U.S.), Ten Kate Holding B.V. (Netherlands), Baker Commodities Inc. (U.S.), Cargill, Incorporated (U.S.), Colyer Fehr Tallow Pty Ltd. (Australia) and York Foods Pty Ltd (Australia) among many others.
The Global Edible Animal Fat Market has been divided on the basis of raw material, form, source, application and region.
On The Basis Of Raw Material: Lard, Tallow and others
On The Basis Of Form: Liquid, Solid and Semi-Solid
On The Basis Of Source: Cattle, Pig, others (Sheep, Poultry, Goat and Fish)
On The Basis Of Application: Culinary, Savory Snacks, Bakery & Confectionery, R.T.E Foods/Convenience Foods, Bio-Diesel, Animal Feed, others (Personal Care Products and Home Care Products)
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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The global edible animal fat market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global edible animal fat market is highly dominated by Asia Pacific region due to high consumption of edible animal fats in China, and Japan. North America is the fastest growing region due to changing lifestyles, and increasing demand for edible animal fats.