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The animal fat market size is expected to project a 7.6% CAGR during the forecast period (2021-2027). Animal fat is a by-product of the whole meat chain. Animal fat is extracted from animals, such as cows, pigs, and chickens, among others. It is available in lipid form, chemically composed of triglycerides. Among all the types of animal fats, tallow and lard are considered to have a large consumer base across the globe. The key producers of lard and tallow are Brazil, China, Germany, Italy, and the US.
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Due to COVID-19, animal fat consumption has considerably declined, backed by the reduction in the market value of biodiesel and thermal boilers post the outbreak of the COVID-19 pandemic. Though, the continuous rise in the demand for animal feed and food products is expected to propel the market growth in 2020 by considering the outbreak of the COVID-19 pandemic. Moreover, amidst the lockdown, the pet adoption rate has considerably increased across the globe, leading to the rise in the demand for animal feed, offering growth to the animal fat market in 2020.
The report outlines the animal fat market research study has been segmented into type and application.
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Animal Fat Market: Geographical Outlook
The Animal Fat market has been segmented into five geographical regions, namely, North America, Asia Pacific, South America, Europe, and the Middle East and Africa. In 2019, North America held the largest share in the global Animal Fat market, followed by Europe and the Asia Pacific. North America is further estimated to dominate the Animal Fat market during the forecast period. Moreover, Asia Pacific is expected to project the highest CAGR in the global market over the forecast period.
The animal fat market has the presence of several global leaders and small food manufacturers across the globe. The key animal fat players operating in the global market include:
The animal fat market report provides a thorough analysis of macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs.
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