Increase in emphasis on biofuels, such as biodiesel produced from animal fats, is augmenting the demand for animal and marine fats and oils.

PORTLAND, OR, US, October 20, 2023 /EINPresswire.com/ — Animal and Marine Fats and Oils Market by Product Type (Tallow, Grease, Lard, Poultry Fat, and Others), Source (Animal and Marine), Form (Liquid and Solid), and Application (Biodiesel, Animal Feed, Oleochemical, Food Industry, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐀𝐭: https://www.alliedmarketresearch.com/request-sample/12812

The global animal and marine fats and oils market size was valued at $2,22,335.0 million in 2020, and is estimated to reach $5,16,759.3 million by 2030, registering a CAGR of 7.6% from 2021 to 2030.

Rise in demand for animal fats in the food & beverage industry and surge in demand from downstream sectors have boosted the growth of the global animal and marine fats and oils market. However, high capital investments in extraction, health concerns related to excessive consumption of fats and oils, and regulations related to labelling of fat & oil production and its safety issues hinder the market growth. On the contrary, rise in demand from developing economies, rapid growth in raw material cultivation and production, and growing applications of fats and oils as substitutes of trans-fats are expected to open lucrative opportunities for the market players in the future.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬:

The key players in the global animal and marine fats and oils industry include Ajinomoto Co., Inc., Australian Tallow Producers, Baker Commodities Inc., Cargill, Colyer Fehr Tallow Pty Ltd., Darling industries, Darling Ingredients, Inc., IFFCO, Jacob Stern & Sons Tallow, SARIA SE & Co. KG, Tallow Products Pty Ltd, Ten Kate Vetten BV, and York Foods Pty Ltd..

The report segments the global animal and marine fats and oils market on the basis of source, product type, form, application, and region.

𝐁𝐮𝐲 𝐍𝐨𝐰: https://www.alliedmarketresearch.com/checkout-final/4ba19e890bde0452077420c2eb46b961

According to the animal and marine fats and oils market analysis, the global animal and marine fats and oils market is segmented into source, product type, form, application, and region. On the basis of source, the market is bifurcated into animal and marine. Depending on product type, it is categorized into tallow, grease, lard, poultry fat, and others. As per form, it is divided into liquid and solid. The applications covered in the study include biodiesel, animal feed, oleo chemical, food industry, and others.

Based on source, the animal segment dominates the market, garnering around 98% of the global animal and marine fats and oils market share in 2020. Marine segment is expected to witness highest growth rate owing to its rising demand in the food industry and will contribute exponentially in the growth of the overall animal and marine fats and oils market industry.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬:

Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, France, the Netherlands, Germany, Turkey, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and the rest of Asia-Pacific), and LAMEA (Brazil, South Africa, the UAE, and the rest of LAMEA). As per the animal and marine fats and oils market forecast, the Asia-Pacific is expected to witness a significant growth rate due to the growing penetration of food services and restaurant chains coupled with increasing demand for food and rising disposable income.

𝐊𝐞𝐲 𝐟𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐬𝐭𝐮𝐝𝐲

The market was valued at $2,524.5 million in 2020, and is estimated to reach $5,16,759.3 million by 2030, growing at a CAGR of 7.6% during the forecast period.

By product type, the lard segment is estimated to witness the fastest growth, registering a CAGR of 10.5% during the forecast period.

In 2020, depending on source, the animal segment was valued at $ 2,19,765.5 million, accounting for 98.8% of the global animal and marine fats and oils market.

In 2020, Europe was the most prominent market, and is projected to reach $ 1,76,164.0 million by 2030, growing at a CAGR of 6.6% during the forecast period.

𝗧𝗿𝗲𝗻𝗱𝗶𝗻𝗴 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 𝗶𝗻 𝗙𝗼𝗼𝗱 𝗮𝗻𝗱 𝗕𝗲𝘃𝗲𝗿𝗮𝗴𝗲𝘀 𝗜𝗻𝗱𝘂𝘀𝘁𝗿𝘆

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𝐀𝐛𝐨𝐮𝐭 𝐔𝐬

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