DUBLIN, October 21, 2021--(BUSINESS WIRE)--The "Animal and Marine Fats and Oils Market by Product Type, Source, Form and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
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.
Animal fats and oils are both lipids derived from animal; oils are liquid at room temperature, while fats are solid. Although many animal organs and secretions may yield oil, oil is extracted primarily from rendered tissue fats from livestock animal such as pigs, chickens, and cows in commercial practice.
Although certain fats, such as goose fat, have a higher smoke point than other animal fats, they have a lower smoke point as compared to many vegetable oils, such as olive or avocado. Animal fats are commonly consumed in semisolid forms such as milk, butter, lard, schmaltz, and dripping or as filler in factory-produced meat, pet food, and fast food products.
Animal fats and oils as well as marine fats and oils have gained popularity as feed products due to the health benefits they provide to poultry and cattle. Fats and oils are high-energy supplements that help to maintain nutritional balance while lowering feed costs. As a result, these are added as feed products to reduce bloat and energy density in the feed. Furthermore, fats and oils are finding applications in a variety of industries; for instance, they are used as a sustainable method of production in industries such as paints, lubricants, and paper.
One of the major factors driving the growth of the global animal and marine fats and oils market is rise in consumption of processed foods. In addition, favorable government policies to encourage the use of biodiesel and reduce the environmental impact of fossil fuels are positively influencing animal and marine fats and oils market growth. Furthermore, increase in preference for oleo chemicals over petrochemicals in the production of soaps, paints, detergents, varnishes, and lubricants is fueling the growth of the animal and marine fats and oils market industry.
Owing to the outbreak of the COVID-19 pandemic, increase has been witnessed in the consumption of healthy edible oils and nutritional products to strengthen the immune system. Furthermore, the production and distribution of these products were impacted as a result of lockdown imposed by governments in various countries and temporary shutdown of various manufacturing units; however, the market is expected to recover and would reflect the previous animal and marine fats and oils market size value.
A significant number of policies have been implemented by the governments of several countries to encourage the production and consumption of marine oils, causing the market to expand. The Renewable Energy Directive (RED) has driven the European Union's consumption of marine oil for biofuel. This directive, enacted in 2009, calls for renewable energy to account for 10% of road and rail transportation energy consumption by 2020. This target must be implemented by EU member states (countries) along with national laws and incentives such as blending mandates.
This report provides a quantitative analysis of current trends, estimations, and dynamics of the global animal and marine fats and oils market from 2021 to 2030 to identify the prevailing market opportunities.
Porter's five forces analysis highlights the potency of the buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global industry. The market player positioning segment facilitates benchmarking while providing a clear understanding of the present position of the key market players.
The report includes analyses of the regional as well as global market, key players, market segments application areas, and growth strategies.
Increase in demand for animal fats in F&B industry
Rise in demand from downstream sectors
Health concerns related to excessive consumption of fats and oils
Regulations related to labeling of fats & oil products and its safety issues
High capital investments in extraction
Growing applications of fats and oils as substitutes of trans-fats
Rapid growth in raw material cultivation and production
Increase in demand from developing economies
Ajinomoto Co. Inc.
Australian Tallow Producers
Baker Commodities Inc.
Colyer Fehr Tallow Pty Ltd.
Darling Ingredients Inc.
Jacob Stern & Sons Tallow
SARIA SE & Co. KG
Tallow Products Pty Ltd.
Ten Kate Vetten BV
York Foods Pty Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/8cz7ba
View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005484/en/
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