Global Tallow Market, By Type (Saturated Fatty Acids, Stearic Acid, Palmitic Acid, Myristic Acid, Monounsaturated Fatty Acids, Polyunsaturated Fatty Acids), Application (Pharma, Personal Care & Cosmetics, Food & Beverages), Distribution Channel (B2C, B2B), Animal Source (Cattle/Bovine, Pig), End-Users ( Soaps & Detergents, Rubber, Plastics, Personal Care Products, Others) - Industry Trends and Forecast to 2031.
Tallow Market Analysis and Size
The expansion of the global tallow market is predominantly propelled by the increasing consumption of meat products and the growing utilization of tallow in the pharmaceutical and cosmetic sectors. The rising demand for meat has led to heightened production levels in the meat industry, resulting in a surplus of tallow as a by-product. The availability of tallow from meat processing facilities significantly impacts its market demand and utilization across diverse industries. In addition, the growing prevalence of industrial meat processing facilities serves as a pivotal factor in driving the demand for the product. However, the tallow market includes potential health concerns due to saturated fats, shifting consumer preferences toward plant-based alternatives, and environmental scrutiny. These factors pose constraints on the industry's sustained growth and market penetration.
Data Bridge Market Research analyzes that the global tallow market which was USD 8,075.6 million in 2023, would reach USD 13,052.6 million by 2031, and is expected to grow with a CAGR of 6.2% during the forecast period of 2024 to 2031. The “Saturated Fatty Acids” segment in the type segment is expected to dominate the market due to its extensive use in various industries, including food, pharmaceuticals, and cosmetics, driving market demand.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million
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Segments Covered
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Type (Saturated Fatty Acids, Stearic Acid, Palmitic Acid, Myristic Acid, Monounsaturated Fatty Acids, Polyunsaturated Fatty Acids), Application (Pharma, Personal Care & Cosmetics, Food & Beverages), Distribution Channel (B2C, B2B), Animal Source (Cattle/Bovine, Pig), End-Users (Soaps & Detergents, Rubber, Plastics, Personal Care Products, Others)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and Rest of Middle East and Africa
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Market Players Covered
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Cargill, Inc. (U.S.), Wilmar International Limited (Singapore), Archer Daniels Midland Company (U.S.), Bunge Limited (U.S.), IOI Corporation Berhad (Malaysia), Louis Dreyfus Company B.V. (Netherlands), Ventura Foods (U.S.), AAK AB (Sweden), Darling Ingredients Inc. (U.S.), VVF Limited (India), Ag Processing Inc. (U.S.), Olenex (Switzerland), Fuji Oil Holdings Inc. (Japan), Lecico GmbH (Germany), Musim Mas Holdings (Singapore)
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Market Opportunities
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Market Definition
The tallow market encompasses the worldwide trade and utilization of rendered animal fat, typically sourced from beef or mutton. This versatile substance is integral to diverse industries, including food, pharmaceuticals, cosmetics, and industrial applications. Its significance lies in various applications, ranging from cooking and food production to the formulation of pharmaceuticals and cosmetics. The market is influenced by factors such as the demand for meat products, industrial processes, and its utility as a key ingredient across multiple sectors.
Global Tallow Market Dynamics
Drivers
- Increased Meat Consumption
The surge in global meat consumption plays a pivotal role in driving the tallow market. As meat demand rises, so does meat production, leading to a greater supply of tallow as a byproduct. This abundance fuels the market, catering to various industries seeking cost-effective and versatile raw materials.
- Diverse Industrial Applications
Tallow's significance across diverse industries, including food, pharmaceuticals, and cosmetics, which is propelling the market growth. Its wide range of applications, from cooking and food production to the formulation of pharmaceuticals and cosmetics, underscores its versatility. This diversity ensures sustained demand, making tallow a crucial commodity in numerous industrial processes.
Restraints
- Health and Environmental Concerns
Increasing awareness of health issues linked to saturated fats in tallow and growing environmental concerns present challenges. Consumers' health consciousness prompts a shift toward healthier alternatives, impacting tallow's demand and necessitating industry adaptations to align with evolving health and environmental standards.
- Shift Toward Plant-Based Alternatives
The changing consumer preferences and a rising trend toward plant-based alternatives are restraining the market growth. The demand for animal-derived tallow may decline as more individuals opt for plant-derived products, requiring the industry to navigate this shift in consumer behavior.
Opportunities
- New Product Innovation
The development of sustainable and value-added tallow-based products aligns with changing consumer preferences for eco-friendly and health-conscious choices. This avenue allows manufacturers to diversify their offerings and cater to evolving market trends, ensuring long-term competitiveness and relevance.
- Growing Demand for Tallow in Growing Economies
The tallow market presents opportunities in emerging economies where the demand for processed foods and industrial applications is on the rise. Untapped markets offer the potential for increased consumption and utilization of tallow, fostering growth and market expansion.
Challenges
- Market Penetration
With its diverse applications, the challenge lies in penetrating new markets and expanding tallow's utility in industries beyond its traditional uses. Overcoming market resistance and promoting the benefits of tallow in untapped sectors are hurdles requiring strategic efforts and innovative marketing approaches.
- Regulatory Compliance
Adhering to evolving regulatory standards and compliance requirements poses challenges for tallow manufacturers. Meeting stringent guidelines and ensuring alignment with changing regulations necessitates continuous efforts to guarantee product quality, safety, and adherence to industry standards.
The global tallow market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyzes opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global tallow market, contact Data Bridge Market Research for an Analyst Brief, our team will help you make an informed market decision to achieve market growth.
Recent Development
- In October 2023, South Korean SK Trading International, along with the Korea Development Bank and Eugene Private Equity, acquired Daekyung O&T, the country's major waste-based feedstock supplier, aiming to secure feedstock for sustainable aviation fuel
Global Tallow Market Scope
The global tallow market is segmented into six notable segments based on type, application, distribution channel, animal source, and end-users. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Saturated Fatty Acids
- Stearic Acid
- Palmitic Acid
- Myristic Acid
- Monounsaturated Fatty Acids
- Polyunsaturated Fatty Acids
Application
- Pharma
- Personal Care & Cosmetics
- Food & Beverages
Distribution Channel
- B2B
- B2C
Animal Source
- Cattle/Bovine
- Pig
End-Users
- Soaps & Detergents
- Rubber
- Plastics
- Personal Care Products
- Others
Global Tallow Market Regional Analysis/Insights
The global tallow market is analyzed and market size insights and trends are provided by type, application, distribution channel, animal source, and end-users as referenced above.
The countries covered in this market report are U.S., Canada, Mexico, Brazil, Argentina, rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, U.A.E., Saudi Arabia, Egypt, South Africa, Israel, and rest of Middle East and Africa.
Asia-Pacific is expected to dominate the market and is expected to witness the fastest growth during the forecast period due to the increasing industrialization, rising meat consumption, and expanding applications in diverse industries, fostering significant market growth.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as downstream and upstream value chain analysis, technical trends, Porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Tallow Market Share Analysis
The global tallow market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width, and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the market.
Some of the major market players operating in the global tallow market are:
- Cargill, Inc. (U.S.)
- Wilmar International Limited (Singapore)
- Archer Daniels Midland Company (U.S.)
- Bunge Limited (U.S.)
- IOI Corporation Berhad (Malaysia)
- Louis Dreyfus Company B.V. (Netherlands)
- Ventura Foods (U.S.)
- AAK AB (Sweden)
- Darling Ingredients Inc. (U.S.)
- VVF Limited (India)
- Ag Processing Inc. (U.S.)
- Olenex (Switzerland)
- Fuji Oil Holdings Inc. (Japan)
- Lecico GmbH (Germany)
- Musim Mas Holdings (Singapore)
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