Beef Fat Global Market Report 2024

The beef fat market research report provides beef fat market statistics, including beef fat industry global market size, regional shares, competitors with a beef fat market share, detailed beef fat market segments, market trends and opportunities, and any further data you may need to thrive in the beef fat industry. This beef fat market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The beef fat market has grown strongly in recent years. It will grow from $42.17 billion in 2023 to $45.35 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The expansion witnessed in the historical period can be attributed to several key factors, including rising trends in livestock production, the influence of regulatory environments shaping the industry, evolving health and nutritional trends affecting consumer choices, and economic factors impacting the market dynamics.

The beef fat market is expected to see strong growth in the next few years. It will grow to $61.59 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The projected growth in the upcoming period can be linked to emerging consumer trends, a surge in sustainability initiatives, evolving regulatory changes, a heightened focus on health and wellness, and the influence of global economic trends. Key trends expected in this forecast period encompass advancements in technology, particularly within processing technologies, the impact of global economic factors on market dynamics, evolving global supply chain dynamics, and the increasing emphasis on sustainability and ethical practices within the industry.

The burgeoning expansion of the food and beverage industries is anticipated to drive the growth of the beef fat market. Widely utilized in cooking as a substitute for butter and oil, beef fat plays a crucial role in enhancing meat's flavor, moisture retention, and nutritional value. Reports by the Food and Drink Federation in the United Kingdom highlight the remarkable scale of this sector, where over 97% of food and beverage manufacturers are small to medium-sized enterprises (SMEs). With industry output estimated at £30 billion ($37.3 billion) in 2021, marking a 4.2% increase from the previous year, and a substantial total turnover and domestic sales, the thriving food and beverage industries significantly contribute to driving demand for beef fat.

The upsurge in meat consumption is poised to fuel the growth of the beef fat market. Recognized for enhancing the taste, texture, and nutritional profile of meat-based dishes, beef fat remains a key component in culinary applications. Projections from Chilecarne indicate a substantial global increase in meat supply by 2030, highlighting a concurrent rise in the demand for beef fat due to its integral role in enriching meat-based culinary experiences.

Innovations in product offerings stand as a pivotal trend driving the beef fat market, with major players focusing on developing inventive products to fortify their market positions. For instance, Metl&Marble introduced Non-animal Fat in May 2022, specifically designed for the plant-based food sector. This innovative plant-based alternative mimics the sensory qualities of beef fat, aiming to enhance the taste and texture of plant-based meat alternatives, such as burgers and sausages, catering to evolving consumer preferences for more palatable plant-based options.

Strategic collaborations and partnerships are key strategies employed by major companies in the beef fat market to deliver enhanced services and products to consumers. In March 2023, Cargill Inc. partnered with Cubiq Foods S.L., leveraging Cubiq's advanced technologies to innovate plant-based products, including beef fat alternatives. This strategic alliance aims to meet the rising demand for healthier and sustainable plant-based options by developing plant-derived alternatives that closely resemble traditional choices, addressing evolving consumer preferences for sustainable and appealing food options. Cubiq Foods S.L., a Spain-based food technology company, offers innovative solutions in the plant-based food sector.

In November 2022, The Love’s Family of Companies, a well-known US-based retail chain and travel company, joined forces with Cargill Incorporated in an undisclosed partnership agreement. This collaboration resulted in the establishment of a distinctive joint venture aimed at the production and marketing of renewable diesel derived from beef fat directly to retail pumps. Cargill Incorporated, a renowned US-based food corporation recognized for its commitment to providing sustainable food solutions, brought its expertise to this venture, leveraging beef fat as a source for renewable diesel in retail distribution.

Major companies operating in the beef fat market report are Windsor Quality Meats Pty Ltd., Tassie Tallow, US Wellness Meats LLC, Pridham Pty Ltd., Cargill Incorporated, BRF SA, Piermen BV, Fat Cow Gourmet Meats, Tridge, Ianq Overseas Private Limited, Jacob Stern & Sons Inc., Hormel Foods Corporation, JBS SA, Clemens Food Group, Conagra Brands Inc., Minerva Foods SA, Wellness Beefs, Indian Feeds Company Private Limited, SBH Foods Limited, Mercomeat SA, Devra Trading Limited, Darling Ingredients Inc., The Procter & Gamble Company, Bunge Limited, Archer Daniels Midland Company, Olenex BV, Zeelandia Group BV, Puratos Group NV/SA, Princes Limited, HAS Group AS, Namchow Chemical Industrial Co Ltd., NMGK Group, FUJI OIL Co LTD., Yildiz Holding AS, Wilmar International Limited. North America was the largest region in the beef fat market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global beef fat market report during the forecast period. The regions covered in the beef fat market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Utilized widely, beef fat serves as a significant dietary provider of conjugated linoleic acid (CLA), offering several health benefits including antioxidant properties, reducing cardiovascular risk, shielding against atherosclerosis, and enhancing immune system function.

Primarily categorized into solid and paste forms, solid beef fat represents the firm, crumbly, and relatively dry fatty portion enveloping the cow's kidneys and loins. Its melting point falls between 45 and 50 degrees Celsius, finding diverse applications as candles, soap ingredients, leather conditioners, and in culinary endeavors such as pastries, cakes, and pies. The multifaceted applications of beef fat span industries such as biodiesel production, animal feed, oleochemical manufacturing, and the food industry. These products reach consumers through various distribution channels including business-to-business transactions, hypermarkets or supermarkets, retail stores, online platforms, and other channels catering to specific market demands.

The countries covered in the beef fat market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The beef fat market consists of sales of membrane fat, intermuscular fat, intramuscular fat, and subcutaneous fat. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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