The global animal fats and oils market comprise products obtained from various animal sources including beef tallow, lard, and chicken fat that find wide applications in cooking, bakery, and other food products for their unique functional properties. Animal fats are solid at room temperature and mainly used for deep frying foods while oils remain liquid and used for various culinary purposes. The market sees products across categories including margarines, shortenings, and others used as substitutes for butter. The global animal fats and oils market caters to both retail and foodservice sectors.

The global animal fats and oils Market is estimated to be valued at US$ 279.3 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The animal fats and oils market is witnessing high growth owing to increasing demand for healthy cooking alternatives. One of the key drivers for the growth of animal fats and oils market is the rising preference of consumers towards fats and oils derived from animal sources like beef, pork and chicken owing to their nutritional properties. These fats contain essential fatty acids and fat-soluble vitamins required by the human body. Moreover, growing health-consciousness among population has boosted demand for animal-based fats and oils as substitutes for partially hydrogenated vegetable oils. The nutritional advantages of animal fats over vegetable oils such as high smoke point making them suitable for deep frying and flavor enhancement has further propelled their adoption in food processing and foodservice industry. Additionally, growing fast food chains culture has augmented consumption of packaged snacks and fried foods incorporating animal fats for taste and texture, thus contributing to market revenue growth over forecast period.

SWOT Analysis

Strength: The animal fats and oils market has huge demand from food and beverages industry globally. The market has positive outlook due to animal fats having better shelf life and heat stability than vegetable oils. The animal fats are also being used for production of soaps, cosmetics and toiletries which drives consistent demand.

Weakness: Concerns related to health issues like cardiovascular diseases due to saturated fats content in animal fats can negatively impact the growth. Strict regulations regarding usage of animal by-products may also hamper the market.

Opportunity: Growing awareness about benefits of omega-3 fatty acids present in fish oils provides growth opportunities. Increasing focus on developing innovative products using animal fats and oils offers scope for market expansion. Emerging applications in biofuel and renewable energy sector present remunerative opportunities.

Threats: Fluctuating prices of raw materials influence the costs. Substitute vegetable oils becoming popular choice threatens the animal fats market share. Stringent quality and safety standards increase production costs.

Key Takeaways

The Global Animal Fats And Oils Market Size is expected to witness high growth. Regional analysis related content comprises

The global animal fats and oils market is expected to witness high growth at a CAGR of 10% during the forecast period of 2023 to 2030. The North America region currently dominates the market owing to robust demand from food processing industry in United States and Canada. Asia Pacific region is expected to showcase fastest growth attributed to rising meat consumption and increasing disposable incomes in countries like China and India.

Key players

Key players operating in the animal fats and oils market are Medtronic Plc, Koninklijke Philips N.V., GE Healthcare, FreeScale Semiconductors, Omnivision Technologies, Inc., Smiths Medical, Analog Devices, Inc., Honeywell International, Inc., Broadcom Limited, Danaher Corp., LORD Corporation, OSI Systems, Inc., Avago Technologies Limited, Measurement Specialties, Micro-Epsilon Messtechnik, Amphenol Advanced Sensors, and Sensirion AG.
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