Edible Animal Fat Market Forecast to 2023 Detailed in New Research Report
Research Reports
Dec 29, 2020
Market Analysis
With all the hype surrounding the protein-rich animal fat, the global market for edible animal fat has witnessed continued demand and hence, increasing growth. Market Research Future (MRFR) has published a research report about the global edible animal fat market that estimates growth for this market with 2.93% CAGR between 2017 and 2023. In terms of cash, the market has been estimated to rise to US $ 19,482 Mn during the forecast period. ANALYZING the individual micro and macro markets, this report estimates market size in order to understand the demand and supply related dynamics of edible animal fat. Listing the key players in the market, the report ANALYZES historical market trends and technologies, along with current government regulatory requirements related to the edible animal fat market.
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The key factors driving the growth of this market during the forecast period include increasing global demand for edible animal fat not only for the culinary purpose but also to produce biodiesel. Globally, the lower price of edible animal fat and rising application in bakery and confectionery industries have increased the sale of edible animal fat. Application of edible animal fat in food, as well as chemical industries, is also leading to the growth of the market.
Top Key Players Trend
The key players in the Global Edible Animal Fat Market include
- Saria Se & Co. KG (Germany),
- Ten Kate Holding B.V. (Netherlands)
- York Foods Pty Ltd (Australia)
- COLYER Fehr Tallow Pty Ltd. (Australia),
- Baker Commodities Inc. (USA),
- Cargill, Incorporated (USA)
- Darling Ingredients Inc. (USA)
among country-specific markets that contribute the highest revenue to the market comprises of Australia, China, India, and New Zealand, followed by the rest of the Asia Pacific region. Due to popular demand and in order to ensure speedy approval regarding quality standards, Food Safety and Standards Authority of India (FSSAI) has decided to remove the BOUDOUIN and HALPHEN tests, which are required for blended edible vegetable oils.
Industry Segment
The segmentation of global edible animal fat market has been done based on application, form, raw material, source, and lastly region. The application-based segmentation of this market covers animal feed, bakery & confectionery, biodiesel, culinary, R.T.E foods/convenience foods, savoury snacks, and others (home care products and personal care products). As per the report, the application of edible animal fat as bio-diesel is likely to have the highest growth rate of 3.10%. Based on the applications of edible animal fat, culinary based application has been estimated to dominate the market during the forecast period, with the application as bio-diesel occupying the second slot.
Browse Complete Cooked Research Report Enabled with Respective Tables and Figures is Available @ https://www.marketresearchfuture.com/reports/edible-animal-fat-market-4036
The regional segmentation of the global edible animal fat market segments the market into regional markets known as Europe, North America, Asia Pacific and rest of the world (RoW). As per the report, both in terms of value as well as volume, the Asia Pacific region can dominate the edible animal fat market with more than 40% of the market share during the forecast period. At a CAGR of 3.40%, the market is expected to rise to the value of US $ 8000 Mn by the end of the forecast period. The cream
Regional Analysis
During the forecast period, North America can witness a high growth rate of approximately 2.34% during the forecast period. Many key players in this market are based in the United States of America (USA). Other important country-specific markets in this region include Canada and Mexico. In Europe, the market has a decent presence with the major revenue coming from France, Germany, Italy, Spain, and the United Kingdom (UK), followed by rest of Europe. The RoW region countries making a significant contribution to the market include Argentina, Brazil, and South Africa.
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