Portland, OR, Nov. 06, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global beef fat market generated $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. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $59.8 billion |
| Market Size in 2031 | $127.7 billion |
| CAGR | 8.1% |
| No. of Pages in Report | 228 |
| Segments Covered | Application, Distribution Channel, and Region. |
| Drivers | Rise in per capita income and increase in consumption of animal fats. |
| Surge in need for energy-dense and high-fat diets. | |
| Opportunities | Thriving food & beverage and food services sectors. |
| | Massive application of beef fat in biodiesel, oleochemicals, and animal feed. |
| Restraints | Rise in prevalence of health issues owing to excessive intake of fat. |
COVID-19 Scenario:
- The outbreak of the COVID-19 had a negative impact on the growth of the global beef fat market, owing to lockdowns, ban on travel, and export & import restrictions, impacting the distribution channels.
- However, supply chain disruptions resulted in low availability of animal fats such as beef fats. This hindered the growth of the global market.
The report offers a detailed segmentation of the global beef fat market based on application, distribution channel, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on the fastest-growing segments and highest revenue generation that is mentioned in the report.
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Based on application, the oleochemical segment held the largest market share in 2021, accounting for nearly one-thirds of the global beef fat market share, and is expected to maintain its leadership status during the forecast period. However, the biodiesel segment is expected to cite the highest CAGR of 9.8% during the forecast period. The report also includes other segments such as animal feed, food industry, and others.
Based on distribution channel, the business to business segment held the major market share in 2021, contributing to around four-fifths of the global beef fat market share, and is expected to maintain its leadership position during the forecast period. The online stores segment, on the other hand, is expected to cite the fastest CAGR of 11.8% during the forecast period. The report also include other segments such as hypermarkets/supermarkets, retail stores, and others.
Based on region, the market across the European region held the major market share in 2021, holding more than one-third of the global beef fat market share and is expected to maintain its leadership status during the forecast period. However, the Asia-Pacific beef fat market is expected to cite the fastest CAGR of 9.1% during the forecast period. The report also analyses other regions such as North America and LAMEA.
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The key players analyzed in the global beef fat market 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.
The report analyzes these key players in the global beef fat market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analyzing recent developments, product portfolio, business performance, and operating segments by prominent players in the market.
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About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
