Pune, India, August 10, 2017 MRFR Press Release- Market Research Future published a half cooked research report on the global edible animal fat market, which is estimated to grow at a CAGR 2.8 % during the forecast period of 2017-2023.
Animal fats and oils are referred as lipid by-product, generated from animals during the meat processing. They are generally considered as co-products or by-products of the meat. Oils, are liquid at room temperature whereas fats are in solid or semi-solid form. The process of producing edible animal fat involves thermal rendering, in order to melt the animal fat. It is further processed to obtain its purified form. Rendering is widely used to obtain edible and inedible animal fats and proteins, this can be marketed for agricultural, food, feed and industrial purposes. Animal fat produced by the rendering process include edible/inedible tallow from cattle, white grease and lard from pork processing, poultry fat from chicken processing and others. The demand for edible animal fats is growing along with rise in population moreover, they are appreciated as multifunctional food ingredients due to their cooking and baking properties. Edible animal fats are also important functionally in the preparation of many food products. Industrial uses of edible animal fats such as biofuel has boosted the market and will continue to contribute in the market’s growth during the forecast period. It is also considered to be a beneficial part of a balanced diet as it is a source of energy as well as provides vitamins and minerals.
Global edible animal fats market holds huge opportunity with the increasing popularity of edible animal fats, especially lard and tallow as one of the main ingredient for bakery and confectionery products. New varieties and product development especially in the food and personal care industry have attracted more consumers towards the edible animal fats and its sale had surged globally. In addition to the increasing population, the growing demand for bakery & confectionery products, growing economy, and increasing demand for bio-fuels are expected to drive the edible animal fat market. The increasing awareness about t edible animal fat has raised the bar for quality, which in turn increase the market share of edible animal fat globally. Major market dispersion is leading to the introduction of new products, based out of the edible animal fat. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has fuelled the share of edible animal fat in the global market. High health benefits such as low in saturated fat, high in heart healthy monounsaturated fat obtained from edible animal fat are also supporting the sale of edible animal fat globally. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the edible animal fat market during the forecast period of 2017-2023.
Downstream market analysis
Globalization and urbanization are major driving factors of this market. Furthermore, the popularity of edible animal fat and its involvement in beneficial diet are encouraging the growth of this market. The rising demand of bio-diesel as well as animal feed is expected to play a significant role in the growth of this market during the forecast period. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the edible animal fat market during the forecast period 2017-2023.
Some of the key players in the global Edible Animal Fat market are
The demand for edible animal fat has pushed manufacturers to innovate and develop new product lines, which provide better quality and offers various health benefits.
The global edible animal fat market as per regional basis is present in North America, Europe, Asia Pacific, and rest of the world (RoW). Among these, the Asia Pacific region holds the major market share followed by North America. The growing demand for edible animal fat in Asia Pacific, due to increasing population, growing economy, as well as growing demand for animal feed and bio-diesel will drive the growth of the market in this region during the forecasting period. Rising demand of meat snacks especially in North America has triggered the demand of edible animal fat in savory snacks and convenience food segment. However, in Asia Pacific region, mainly emerging economies including China and India, is estimated to witness maximum growth in the global edible animal fat market over the forecast period 2017-2023.
The global edible animal fat market is segmented by raw material, form, source, application, and region.
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