According to a new report, published by KBV research, The Global Lipid Market size is expected to reach $12.8 billion by 2028, rising at a market growth of 8.3% CAGR during the forecast period.
The Food & Beverages segment acquired maximum revenue share in the Global Lipid Market by Application in 2021, thereby, achieving a market value of $4.8 billion by 2028. Confectionery, ice creams, bakery, emulsions, and sauces, shortenings, margarines, and other highly adapted products rely heavily on fats and oils as raw materials and functional additives. As the demand for these products has increased due to rising disposable income and rising population, the lipid application is growing in this segment.
The Animal-based segment is showcasing a CAGR of 7.7% during (2022 - 2028). Milk, eggs, and meat from animals such as chicken and turkey, beef, hog, mutton, horse, lamb, and other animals are used to make animal source lipids. Lipids derived from animals are naturally flavored. Animal-derived lipids have higher saturated lipids, which produce more heat and stay longer. As a result, during the forecast period, this animal sources lipids segment is expected to contribute to the market.
The Asia Pacific market dominated the Global Lipid Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4.8 billion by 2028. The North America market is estimated to witness a CAGR of 7.6% during (2022 - 2028). Additionally, The Europe market would experience a CAGR of 8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/lipid-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Archer Daniels Midland Company, BASF SE, Koninklijke DSM N.V., Reckitt Benckiser Group PLC, Kerry Group PLC, Clover Corporation Limited, Croda International PLC, FMC Corporation, Cargill Corporation, and Nordic Naturals, Inc.
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