The global edible animal fat market has witnessed continued demand during the last few years and is projected to reach USD 19,482 million, globally by 2023. High demand for cooking oil alternatives and availability of substitutes with lower prices are likely to drive the global edible animal fat market. Economy development and increasing working women population expected to drive the market. One of the applications of edible animal fat as a bio-fuel will contribute to the positive growth of this market. In addition, high nutrient content of the product is anticipated to propel the growth of this market.
By 2023, on the basis of type lard will experience the highest growth rate based on diverse application as cooking oil, for baking purpose and for manufacturing of soaps. Additionally, tallow is expected to dominate the market by holding more than 30% share in the global edible animal fat market. Based on the rising application of fish oil, goat and poultry fat, the growth rate of other Edible Animal Fat is projected to experience a surge.
Solid form of edible animal fat is predicated to dominate the market followed by semi-solid over the forecast period. Additionally, solid form is estimated to hold a major share of more than 50% during the forecast period 2017-2023. However, surging demand for edible animal fat with convenience usage and easy storage property will support the sale of liquid form of edible animal fat on the global level and hence the form will experience a growth at a rate of 2.61%. Furthermore, on the basis of source, cattle sourced edible animal fat will dominate the market and will account for a share of more than 50% owning to high volume rendering of cattle for fat in developed countries. On the basis of major applications of edible animal fat, application for culinary purpose will dominate and will hold a major share of 25% in the market.
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Among the regions, Asia Pacific is evaluated to dominate the edible animal fat market and it is projected to reach more than USD 8,000 million at a CAGR of 3.40% by 2023. North America will witness a high growth rate during the forecast period 2017-2023 backed up by economic developments. Adoption of edible animal fat based fuel in developed countries of Europe and North America is driving the market of edible animal fat in the regions.
Major Key Players:
This report includes a study of strategies such as mergers and acquisitions, product launches by the major edible animal fat market players. It further includes product portfolios, developments of leading major players, which includes:
- Darling Ingredients Inc. (U.S.)
- Ten Kate Holding B.V. (Netherlands)
- Baker Commodities Inc. (U.S.)
- Saria Se & Co. KG (Germany)
- Cargill, Incorporated (U.S.)
- Colyer Fehr Tallow Pty Ltd. (Australia) and
- York Foods Pty Ltd (Australia)
- Edible animal fat manufacturers
- Bio-fuel manufacturers
- Food processing industries
- Retailers and wholesalers
- Traders, importers and exporters
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- Global edible animal fat market is projected to reach USD 19,482 million by 2023 at a growth rate of 2.93%
- Lard will experience a high growth at a rate of 2.70% during the given forecast period
- Solid form of edible animal fat will witness the highest growth at a rate of 3.25% based on the convenience storage property
- Pig sourced edible animal fat is projected to witness a moderate growth rate during the given period
- Application of edible animal fat as Bio-diesel is projected to have the highest growth rate of 3.10%
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