ANIMAL FATS AND OILS MARKET ANALYSIS

Market News

Recent Developments

New product launches

• Plant-Based Animal Fat Substitutes: In response to the growing demand for plant-based alternatives, some companies have introduced plant-based animal fat substitutes. These products aim to replicate the functional properties and taste of animal fats while being derived from plant sources. Such innovations cater to consumers seeking vegetarian or vegan options.
• Omega-3 Enriched Animal Fats and Oils: Omega-3 fatty acids are known for their health benefits, and companies have started incorporating omega-3 fatty acids into animal fats and oils to enhance their nutritional profile. This allows consumers to benefit from the positive attributes of omega-3 fatty acids while using animal fats and oils in their food preparations.
• Specialty Animal Fats and Oils: Some companies have launched specialty animal fats and oils that cater to specific applications or target niche markets. These specialty products may possess unique characteristics, such as high smoke points for frying, improved oxidative stability for longer shelf life, or specific sensory attributes for particular culinary applications.

Acquisition and partnerships

• In 2022, Cargill acquired AB Agri's animal nutrition business for US$ 1.4 billion. This acquisition gave Cargill a leading position in the animal fats and oils market, as well as access to AB Agri's expertise in animal nutrition.
• In 2021, Bunge acquired Aurora Oils for US$ 1.2 billion. This acquisition gave Bunge a leading position in the Canadian canola oil market, as well as access to Aurora Oils' expertise in canola processing.
• In 2020, IMCD and AAK formed a joint venture to create a new global leader in specialty fats and oils. This joint venture brought together IMCD's global distribution network and AAK's expertise in specialty fats and oils.