NEW YORK, April 03, 2023 (GLOBE NEWSWIRE) — Research firm IndexBox has published a comprehensive new report titled “Global Animal Fats and Oils Market Analysis, Forecast, Size, Trends, and Insights.” The report offers an in-depth analysis of the animal fats and oils market and can be accessed at https://www.indexbox.io/store/world-animal-fats-and-oils-market-analysis-forecast-size-trends-and-insights/. Trial access to market data is also available on the IndexBox platform.
The new report provides a market forecast until 2030, taking into account the current trends, growth drivers, and challenges. The global animal fats and oils market is expected to witness steady growth, driven by factors such as increasing demand for biodiesel, a growing preference for sustainable and clean energy sources, and the rising consumption of processed foods.
Key growth drivers for the animal fats and oils market include:
- The growing biodiesel industry and its increasing demand for animal fats and oils as feedstock.
- The rising consumption of processed foods, which rely on animal fats and oils for various applications.
- The growing awareness and preference for sustainable and clean energy sources.
However, the market also faces challenges, including the increasing demand for plant-based alternatives, stricter regulations on the use of animal fats and oils in food and industrial applications, and concerns about the environmental impact of livestock farming.
The global animal fats and oils market can be broadly segmented into the following categories:
Food and Beverage Industry: Animal fats and oils are widely used in the food and beverage industry for cooking, frying, baking, and as ingredients in processed foods, such as snacks, spreads, and confectionery items.
Cosmetics and Personal Care: Animal fats and oils, particularly those derived from fish, have applications in the cosmetics and personal care industry due to their moisturizing and nourishing properties. They are used in the formulation of creams, lotions, and other skincare products.
Biodiesel Production: Animal fats and oils are increasingly being used as feedstock for biodiesel production, contributing to the growth of the renewable energy sector.
Pharmaceutical Industry: Some animal fats and oils, especially fish oils rich in omega-3 fatty acids, are used in the production of dietary supplements and pharmaceuticals to support heart and brain health.
Animal Feed: Animal fats and oils are also used in the formulation of animal feed to provide essential nutrients and energy to livestock.
Asia-Pacific: The Asia-Pacific region is the largest market for animal fats and oils, driven by its vast population, rapid urbanization, and growing middle class. China and India are the key markets in the region, accounting for a significant share of the global consumption.
Europe: Europe is another significant market for animal fats and oils, with the European Union being a major producer and consumer. The region’s demand is driven by its well-established food and beverage industry and the increasing use of animal fats and oils for biodiesel production.
North America: The North American market, led by the United States, is driven by the demand for animal fats and oils in food and beverage applications and the growing biodiesel industry.
Latin America: Latin America, with countries like Brazil and Argentina, is a prominent market for animal fats and oils, primarily due to its large livestock industry and the increasing demand for biodiesel.
Middle East and Africa: The Middle East and Africa region represents a smaller share of the global animal fats and oils market, but it is expected to witness steady growth due to the rising demand for processed foods and the growth of the biodiesel industry in the region.
The largest manufacturers in the industry are Archer Daniels Midland Company, Bunge Limited, Wilmar International Ltd., and Cargill Incorporated, among others.
For more information, visit https://www.indexbox.io/store/world-animal-fats-and-oils-market-analysis-forecast-size-trends-and-insights/
Keywords: animal fats, oils market, biodiesel, market analysis, market forecast