The Beef Fat Market was valued at $59.8 billion in 2021, and is estimated to reach $127.7 billion by 2031, growing at a CAGR of 8.1% from 2022 to 2031. Beef fat is used for a variety of things, including biodiesel, personal care products, animal feed, and many others in the food and beverage business. In terms of domestic use, it is mostly used for the manufacture of cleansers, where the rising demand for cleansers is expected to increase the market interest in beef fat in the years to come. It is also used as a cooking fat and margarine alternative in the food and beverage industry.
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Key Players Are:
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 include, 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.
According to the beef fat market opportunities, region-wise, North America garnered the major beef fat market share in 2021 and is expected to maintain its market share during the forecast period. Upsurge in demand for high nutritional food and rise in applications of beef fat in various industries, including oleo chemical and food and beverages are likely to garner the growth of the North America beef fat market during the forecast period. Furthermore, the growing U.S. animal feed industry and rise in use of the beef fat in animal feed companies are likely to support for beef fat market growth.
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Animal fats make up around one-third of the fats and oils made in the US. This comprises chicken fat, pork lard, and cattle tallow. As they are much less expensive than vegetable oils, animal fats are desirable feedstocks for biodiesel. This is due to the fact that the market for animal fat is significantly less than the market for vegetable oil and that a large portion of the animal fat produced in the U.S. is not regarded as suitable for human consumption.
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According to the beef fat market analysis, by distribution channel, the online stores segment has gained a significant share in the market is expected to sustain its share throughout the beef fat market forecast period. Online stores is a virtual platforms where goods & services do not require any physical space and are sold through websites. Easy accessibility and heavy discounts & offers provided by these e-commerce platforms boost the adoption of cooking oil, thus serving as a popular medium for purchase.
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