The global beef fat market was valued at $59.8 billion in 2021, and is projected to reach $127.7 billion by 2031, growing at a CAGR of 8.1% from 2022 to 2031.
Beef is mostly composed of triglycerides, which are converted into beef fat. Additionally, it is used in numerous industries including Biodiesel, Animal Feed, Oleo Chemical, Food Industry and Others. Beef fat has great stability that it can be kept at room temperature for an extended period of time without the use of a refrigerator. Due to its extensive applications across numerous end use industries such as biodiesel, animal feed, oleo chemicals, and the food industry, beef fat has been gaining significant traction in the global market.
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Major Manufacturers covered in the market report include:
The players operating in the global beef fat industry have adopted various developmental strategies to expand their market share, increase profitability, and remain competitive in the market. The key players profiled in this report Windsor Quality Meats, Tassie Tallow, Wellness Beefs, Indian Feeds Company, Pridham Pty Ltd, SBH Foods, Mercomeat, PIERMEN B.V., Devra Trading Ltd., and Darling Ingredients, Inc.
Key Drivers & Trends
The demand for beef fat has increased especially in emerging economies like China and India, where there has been an increase in per capita income, per capita consumption of animal fat, and the need for energy-dense, high-fat diets. Additionally, the rapid growth of the food & beverage and food services industries is likely to supplement the growth of animal fat including beef fat as beef fat improves the taste and texture of food and is also used in cooking.
Beef fat market revenue is anticipated to increase at a high CAGR, driven by millennials’ phenomenal demand and demand from emerging regions. Key growth drivers in the beef fat market are technological advancements that allow for successful manufacturing, an expanded product line, smart design and packaging, efficient operational maintenance, and sales monitoring.
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