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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 food and personal care industry have attracted more consumers towards the edible animal fats and its sale 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. Increased awareness about the 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 up 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 2017-2023.
• Bio-diesel and animal feed are the reasons for growing demand for edible animal fat market.
• Asia Pacific holds the major market share in the edible animal fat market in comparison to Europe and North America.
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The global Edible Animal Fat market is segmented on the basis of raw material, such as lard, tallow, and others. Among these, lard is the high growth segment in this market owing to heat stable, neutral flavored as well as health benefits.
• On the basis of Form, this market is segmented into liquid, solid, and semi-solid
• On the basis of Source, this market is segmented into cattle, pig, and others. Pig is the high growth segment in this market as lard is extracted from pig and there is high demand from lard
• On the basis of Application, this market is segmented into culinary, bakery & confectionery, savory snacks, R.T.E foods/convenience foods, bio-diesel, animal feed, and others. Bakery & confectionery as well as savory snacks are the high growth segments in this market due to high demand
Some of the key players in the Edible Animal Fat market:
• Archer Daniels Midland Company (U.S.)
• Associated British Foods PLC (U.K.)
• Wilmar International Ltd. (Singapore)
• Bunge limited (U.S.)
• Adani Wilmar Limited (India)
• Cargill Incorporated (U.S.)
• Ajinomoto CO. INC. (Japan)
• Edible Animal Fat Manufacturers
• Retailers, Wholesalers
• E-commerce Companies
• Traders, Importers and Exporters
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The global edible animal fat market is regionally present in North America, Europe, Asia Pacific, and Rest of the World (RoW). Among these, the Asia Pacific region holds 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 the 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.
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