The animal fat market size is expected to project a 7.6% CAGR during the forecast period (2021-2027). Animal fat is a by-product of the whole meat chain. Animal fat is extracted from animals, such as cows, pigs, and chickens, among others. It is available in lipid form, chemically composed of triglycerides. Among all the types of animal fats, tallow and lard are considered to have a large consumer base across the globe. The key producers of lard and tallow are Brazil, China, Germany, Italy, and the US.
Factors Affecting the Animal Fat Market Over the Forecast Period
- A rise in demand for animal products from downstream industries, such as biodiesel, oleochemicals, and animal feed, is expected to propel the animal fat market over the forecast period.
- Animal fats are used in making chewing gums. They have high calories and carbohydrates that help make gym proteins, which is offering a continuous rise in the demand for animal fat across the globe.
- However, the high maintenance cost of animal fat and cohesive government rules and regulations are some factors that will hamper the market growth over the forecast period.
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Impact of COVID-19 on Animal Fat Market
Due to COVID-19, animal fat consumption has considerably declined, backed by the reduction in the market value of biodiesel and thermal boilers post the outbreak of the COVID-19 pandemic. Though, the continuous rise in the demand for animal feed and food products is expected to propel the market growth in 2020 by considering the outbreak of the COVID-19 pandemic. Moreover, amidst the lockdown, the pet adoption rate has considerably increased across the globe, leading to the rise in the demand for animal feed, offering growth to the animal fat market in 2020.
Scope of the Report
The report outlines the animal fat market research study has been segmented into type and application.
By Type Outlook (Sales/Revenue, USD Million)
- Butter
- Tallow
- Lard
- Others (Poultry Fat)
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By Application Outlook (Sales/Revenue, USD Million)
- Biodiesel
- Food
- Animal Feed
- Oleochemicals
- Others (Energy)
By Region Outlook (Sales/Revenue, USD Million)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
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Animal Fat Market: Geographical Outlook
The Animal Fat market has been segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East and Africa. In 2019, North America held the largest share in the global Animal Fat market, followed by Europe and the Asia Pacific. North America is further estimated to dominate the Animal Fat market during the forecast period. Moreover, Asia Pacific is expected to project the highest CAGR in the global market over the forecast period.
Major Players in the Global Market of Animal Fat Market
The animal fat market has the presence of several global leaders and small food manufacturers across the globe. The key animal fat players operating in the global market include:
- Ajinomoto Co., Inc.
- Archer Daniels Midland Company
- Associated British Foods PLC (ABF)
- Baker Commodities, Inc.
- Bunge Limited
- Cargill, Inc.
- Colyer Fehr Tallow Pty Ltd.
- Conagra Foods, Inc.
- Darling Ingredients, Inc.
- International Foodstuff Company Holdings Limited (IFFCO)
- Saria Se & Co. KG
- Ten Kate Holding B.V.
- Unilever PLC
- Wilmar International Limited
- York Foods Pty Ltd
The animal fat market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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Animal Fat Market: Target Audience
- Animal fat manufacturers
- Bio-fuel manufacturers
- Food processing industries
- Traders, importers, and exporters
- Biodiesel manufacturers
- Feed additive manufacturers
- Oleochemical companies