According to research from Future Market Insights, the worldwide beef fat market is predicted to expand at a CAGR of 5.5% over the anticipated time period. According to forecasts, the market would be worth USD 26.8 Billion in 2032 as opposed to USD 15.6 Billion in 2022.
| Attributes | Details |
|---|---|
| The market size value in 2022 | USD 15.6 Billion |
| Market forecast value in 2032 | USD 26.8 Billion |
| Forecast period | 2022 to 2032 |
| Global growth rate (CAGR) | 5.5% |
| The growth rate of India in the beef fat market | 5.3% |
Beef is mostly composed of triglycerides, which are converted into beef fat. At room temperature, beef fat is solid; it begins to melt at about 50 degrees Celsius. Vitamins E and D are scarce in beef fat, which is a high source of fat. Due to its mouthwatering flavor and taste, it is primarily used in cooking and baking.
Additionally, it is employed in numerous other industries for the production of goods including candles, printing, medicines, lubricants, soap, and shaving soap. Since beef fat is quite stable, it can be kept at room temperature for an extended period of time without the use of a refrigerator. Due to the aforementioned factors, the market for beef fat is anticipated to expand during the anticipated period.
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The market for beef fat was valued at USD 13.0 Billion in 2017, and since then, it has grown quickly, with a CAGR of 3.7% from 2017 to 2021. The market for milk components was worth USD 15.1 Billion in 2021.
The food and beverage industry, biodiesel, the personal care industry, the animal feed sector, and many more all use beef fat in a number of ways. It is primarily utilized in the production of soap in the personal care industry, and as more soap-making businesses emerge, the demand for beef fat will rise.
It is utilized as a cooking fat and a substitute for butter in the food and beverage industry. Because beef fat is relatively inexpensive compared to other cooking oils on the market, the increasing number of food industries around the world will increase demand for it.
The USA produces the most beef in the world and dominates the market for beef fat. The nation's beef fat has a high nutritional value and is used in dietary supplements and fortified foods.
During the projected period, the USA beef fat market is anticipated to expand at a CAGR of 5%. (2019 to 2024). The market is expanding as a result of rising consumer demand for wholesome foods and growing knowledge of the advantages of beef fat.
Another important element fueling the expansion of the USA beef fat market is the rising demand for fortified foods and nutritional supplements. Rich in nutrients, fortified foods, and dietary supplements have been shown to improve heart health and lower cholesterol levels.
On the international market, the United Kingdom is a significant producer and consumer of beef fat. Beef fat gives food a taste and serves as a lubricant. More beef fat is produced and consumed in the United Kingdom than anywhere else in the world.
The United Kingdom produces high-quality beef fat, which accounts for a portion of the global market for beef fat. Beef fat has been produced and consumed in the United Kingdom for a very long time, and the country's producers have a wealth of knowledge when it comes to creating high-quality beef fat. Beef fat with good oxidative stability can be produced in the United Kingdom and stored for extended periods of time without going rancid.
Producers in the United Kingdom combine soybean oil with cow fat to generate a product that is used in most industries.
Manufacturers have a huge chance to meet the expanding demand for beef fat on the international market. The increase in demand for biofuel and the use of beef fat as a lubricant in industrial products are both found to have a favorable impact on the market share growth in the anticipated period.
Due to its stability, several biodiesel producers add beef fat to soybean oil to increase the stability of the latter. Improved stability in different oils is facilitated by beef fat's strong oxidative stability. Due to this quality, beef fat is more in demand in the biodiesel sector, which presents a chance for suppliers to meet the rising demand in other sectors.
Principal Consultant
The personal care industry is responsible for the growth of the beef fat market. The main use of beef fat is in the production of soaps. The demand for soap is constantly increasing due to the growing population. The increase in demand has led to an increase in the price of beef fat.
beef fat is used as a cooking fat and a substitute for butter in the food and beverage sector. Because beef fat is relatively inexpensive compared to other cooking oils on the market, the increasing number of food industries around the world will increase demand for it.
Companies in the beef fat sector are continually releasing new types of ingredients to fulfill the shifting needs of consumers and to seize the largest market feasible. In order to reach new markets, firms are also focusing on growing their distribution networks.
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In a recently published Research, FMI in-depth explored the pricing points of beef fat manufacturers positioned across geographies, sales growth, production capacity, and speculative production expansion.
The full report includes recent alterations that beef fat suppliers have been impacted by and that the FMI team has been tracking.
| Attribute | Details |
|---|---|
| Forecast period | 2022 to 2032 |
| Historical data available for | 2017 to 2022 |
| Market analysis | USD million in value |
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| Customization and Pricing | Available upon request |
The Beef fat market size is assessed to be USD 15.6 Billion in 2022.
The Beef fat market is expected to rise at a CAGR of 5.5%.
USA, China, Canada, Germany, China, India, United Kingdom are the major countries driving demand for the Beef fat market.
China's Beef fat market is projected to grow at a CAGR of around 3.9% over the next ten years.
Its market share of Germany in beef fat is about 24% of the global market.
Cargill Inc, Chosen foods LLC, Jedward International, Inc., Pleasant Valley Oil, Coltura, LLC, and Catania Spagna are expected to be the top players driving the market growth.
The global Beef fat market is forecasted to surpass USD 26.8 Billion by the end of 2032.
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