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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.

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 for the production of bio-diesel. 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.

Edible Animal Fat Market Revenue

The form-based segmentation segments the market into liquid, solid, and semi-solid. The report says that the solid form of edible animal fat will be witnessing the highest growth at a rate of 3.25% on the basis of the convenience storage property. On the basis of raw material, the market has been segmented into lard, tallow, and others. According to the report, lard is expected to experience high growth at a rate of 2.70% during the forecast period. During the forecast period, tallow can witness growth at the rate of 1.64% which in terms of cash would be the US $ 6000 mn globally. Factors influencing the market growth positively include the application of tallow as an industrial lubricant, easy availability, high demand for clean fuel (biofuel), and low cost of production.

By source, the market has been segmented into cattle, pig, and others (fish, goat, poultry, and sheep). The report projects pig sourced edible animal fat to witness a moderate growth rate during the forecast period. Cattle-based animal fat has been estimated to hold the lion's share of more than 50% with a growth rate of 3.37%.

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.

Key Players

The key players in the global edible animal fat market include Baker Commodities Inc. (USA), Cargill, Incorporated (USA), Colyer Fehr Tallow Pty Ltd. (Australia), Darling Ingredients Inc. (USA), Saria Se & Co. KG (Germany), Ten Kate Holding B.V. (Netherlands), and York Foods Pty Ltd (Australia).

Complete Report Details @ https://www.marketresearchfuture.com/reports/edible-animal-fat-market-4036

About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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