Lard is a fat derived from fatty parts of the pig. Lard available in rendered and unrendered forms. Lard is used for cooking and baking staple in cultures where pork is an important dietary item. Lard does not contain any hydrogenated fats, also known as Trans fats. Trans fats may increase the risk of heart diseases. This factor is expected to increase the demand and market attractiveness across the world during the forecast period.
Increase in awareness about the health benefits related to lard accelerating the global lard market growth across the world during the forecast period
In addition to this, increasing consumer expenditure on personal and beauty care products is expected to accelerate the overall growth of the lard market across the world
Other factors, such as improving living standards, increasing demand for luxury and healthy, high-income levels, and growing trend of personal care are expected to fuel the market growth during the forecast period
Growth in product innovations and high acceptance of lard-based products are projected to increase the demand for lard during the forecast period
Rapid innovation in the food industry is expected to accelerate the growth of the global lard market
Moreover, the evolution of e-Commerce has created huge opportunities for producers and distributors in the industry
The global lard market can be segmented based on product type, end-use industry, distribution channel, and region
In terms of product type, the lard market can be segregated into oil, soap, butter, cream, and others
Based on end-use industry, the market can be classified into the pharmaceutical industry, food & beverage industry, and cosmetic industry
Based on the distribution channel, the lard market can be bifurcated into online and offline. The online segment is divided into company-owned websites and e-Commerce retailers. The offline is segmented into hypermarkets/supermarkets, pharmaceutical stores, departmental stores, and others.
In terms of region, the global market can be divided into North America (U.S., Canada, and Rest of North America), Europe (U.K., Germany, France, Italy, and Rest of Europe), Asia Pacific (Japan, India, China, and Rest of Asia Pacific), Middle East & Africa (GCC Countries, South Africa, and Rest of the Middle East & Africa), and South America (Brazil and Rest of South America)
North America is expected to hold a major market share, followed by Europe. Factors, such as the presence of a large number of major players and growing health awareness are expected to accelerate the growth of the lard market in both regions.
Lard is widely used in cuisines in Europe, China, and the rest of the world. The country with the largest volume of lard consumption is China and this is expected to grow at the fastest rate during the forecast period.
Driven by increasing demand for lard in China, the country is top producing country of lard, followed by Germany and Brazil
Key players operating in the global lard market include La Fontana Ermes S. p. A, OTTO SCHACHINGER GES.M.B.H., COOPECARN GIRONA, S.L.U., SALUMI BENVENUTI S.R.L., Nortech Foods Limited, HIJOS DE J. CASAPONSA, S.A., and PIERMEN B.V, among others
These market players are focused on the adoption of business strategies such as mergers & acquisitions and geographical expansion. Furthermore, market players are more focused on product development and enhancement to have a competitive advantage over others.
Lard Market, by Product Type
Lard Market, by End-use Industry
Food & Beverage Industry
Lard Market, by Distribution Channel