Global Animal Fat Market to be Driven by Rising Demand from Food Service Sector in the Forecast Period of 2021-2026
The new report by EMR titled, ‘Global Animal Fat Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global Animal Fat market, assessing the market based on its segments like type, application, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2016-2026)
Forecast CAGR (2021-2026) - 8% (Global Fat and Oil Market)
- Forecast Market Value (2026) – USD 361.65 Billion (Global Fat and Oil Market)
- Historical Market Value (2020) – USD 227.9 Billion (Global Fat and Oil Market)
Fat accounts for over 10% of the overall demand in the global oils and fats industry. Tallow is the most common form of animal fat, accounting for 4.4% of global oil and fat intake. Tallow is being pushed forward by increasing demand from the biodiesel market, where it makes up nearly 9% of the feedstock. As a major form of fat, tallow is preceded by lard, which accounts for 4.1% of overall oils and fat intake. China, Brazil, Germany, the United States, and Italy are the top lard manufacturers, while the United States, Europe, China, Brazil, and Australia are the top tallow producers. In emerging markets like the Asia Pacific, demand has been fueled by a preference for using lard instead of butter in baked goods. As a result of advancements in technology, increased population, and increasing lard consumption by the bakery industry, the Asia Pacific is projected to have the highest growth in consumption of animal fat, such as lard, further enhancing the global animal fat demand growth. The use of lard for biodiesel has propelled Germany to the top of the European economy.
Industry Definition and Major Segments
Animal fat is a kind of lipid that is derived from animals like pigs, cows, and chickens. At room temperature, it is solid, and it is made up of triglycerides chemically. Cheese, yoghurt, and butter are some of the few examples of dairy products that contain animal fat.
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On the basis of type, the animal fat industry is divided into:
- Tallow/Grease
- Lard
- Others
The animal fat industry is segmented on the basis of application:
- Biodiesel
- Animal Feed
- Oleochemical
- Pet Food
- Food Applications
- Others
The regional markets for the product include:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Market Trends
With the increasing use of lard as bread spreads in the baking industry, the global animal fat market is being propelled by a rise in demand from the foodservice sector. The market for animal fat has grown rapidly due to increased demand from downstream industries such as biodiesel, poultry, oleochemicals, and pet food. Consumers in rapidly rising regions such as the Asia Pacific are showing preference for lard over butter in baked goods, which is boosting demand for animal fat. Lard, a form of animal fat, is used in the feed and oleochemicals industries. The demand for lard (as a bread spread) in the German baking industry is increasing, boosting the market growth. On a half-yearly basis, food companies, especially those in the bakery industry, procure lard to be used as a butter substitute in quantities ranging from 500 to 600 million tonnes. The demand for tallow, which is used in animal feed and biodiesel, is increasing, which is boosting the animal fat industry. It accounts for 9% of biodiesel feedstock, with 2.37 million metric tonnes generated during 2017-2018.
Key Market Players
The major players in the market are SARIA SE & Co. KG, Darling Ingredients Inc., Ten Kate Vetten BV, Baker Commodities Inc., Jacob Stern & Sons Tallow, Tallow Products Pty Ltd, and Australian Tallow Producers, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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