Animal Fats and Oils Market, By Source (Bovine (beef) fats and oils, Poultry fats and oils, Pork fats and oils, Fish fats and oils, Other animal fats and oils (such as lamb, goat, and horse)), By Product Type (Tallow, Lard, Poultry Fat, Fish Oil, Butterfat:, Others:), By Application (Food Industry, Industrial Uses, Animal Feed, Pharmaceuticals:, Others), By Grade/Quality (Prime/High-Quality Grade, Premium Grade, Standard Grade), By Geography (North America, Latin America, Europe, Middle East & Africa, and Asia Pacific)

Published In : Nov 2023

Code : CMI5803

Pages :147

Formats :

Excel and PDF

Industry : Food and Beverages

Animal Fats And Oils MarketSize and Trends

The global animal fats and oils market size was valued at US$ 279.30 billion in 2023 and is expected to reach US$ 475.58 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030. Animal and marine oils and fats are water-insoluble, hydrophobic substances of animal origin. They are a major source of energy and essential fatty acids for humans and animals. Animal fats and oils are used in a variety of applications, including food, feed, oleochemicals, and biodiesel.

The growth of the animal fats and oils market is driven by the increasing demand for animal-based food products, such as meat, poultry, and dairy products. The rising demand for these products is due to the increasing population and the growing affluence of consumers in developing countries. Additionally, the growing demand for animal fats and oils in the oleochemicals and biodiesel industries is also driving the market growth.

Animal Fats and Oils Market Trends:

Shift towards Healthy Fats: Consumers are increasingly conscious of their dietary choices and are opting for healthier fats. This has led to a shift towards fats and oils with better nutritional profiles, such as those high in monounsaturated and polyunsaturated fats. Manufacturers are responding to this trend by offering products with reduced saturated fat content and promoting the health benefits of specific fats, such as omega-3 fatty acids.
Clean Label and Natural Ingredients: There is a growing demand for clean label products with minimal artificial additives and natural ingredients. Consumers are looking for transparency and recognizable ingredients in their food products. This trend is driving the demand for animal fats and oils that are minimally processed and derived from sustainable and ethically sourced animal by-products.
Sustainable Sourcing and Production: Environmental concerns are driving the demand for sustainably sourced animal fats and oils. Consumers are looking for products that have minimal impact on the environment and support animal welfare. Companies are implementing sustainable sourcing practices, such as using by-products from the meat industry and supporting initiatives like palm oil sustainability certifications.
Regulatory Landscape: Regulatory bodies are implementing stricter guidelines and regulations related to labeling, quality, and sustainability of fats and oils. Compliance with these regulations, such as nutritional labeling requirements and adherence to sustainable sourcing practices, is becoming increasingly important for industry players.