With the emergence and long-term Impact of COVID-19, Global Tallow Market to reach USD 13.72 Billion by 2030
Bizwit Research & Consulting LLP’s Recent Analysis on Global Tallow Market is poised to raise up to USD 13.72 Billion by 2030. Tallow is a rendered form of animal fat, usually obtained from cattle. It has been used for various purposes throughout history, including in food products, industrial applications, and as a source of biofuel. The tallow market can be influenced by factors such as cattle production, consumer preferences for alternative fats and oils, global trade dynamics, and shifts in industrial demand.
Consumer preferences for healthier fats and oils, environmental concerns, and evolving regulations are some of the trends that are driving the tallow market. The market demand for and application of tallow in many industries might be impacted by its accessibility from facilities that prepare meat. Another important aspect boosting product demand is the growth of industrial meat processing plants. However, Alternatives to tallow, such as vegetable-based oils and fats stifles market growth throughout the forecast period of 2023-2030.
Geographically, the global Tallow market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA Regionally, the Asia Pacific has a commanding revenue share in 2022 and is also the fastest growing region. In the creation of soaps, detergents, and other personal care items, tallow is frequently used as an ingredient.
The demand for tallow is being driven by the expansion of the personal care sector in Asia and the Pacific. Tallow is also a more affordable ingredient than some of the substitutes used to make soap and detergent. Manufacturers can find it to be an easily available and reasonably priced alternative because it is a byproduct of the meat industry, particularly in areas with a robust cattle industry.
The global Tallow market is highly competitive owing to the presence of several key manufacturers such as Saria SE & Co. KG, Darling Ingredients, Cargill Incorporated, Ajinomoto Co. Inc, Vantage Specialty Chemicals, Jacob Stern & Sons Inc, Australian Tallow Producers and others.
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Global Tallow Market Size study & Forecast, by Animal Source (Cattle/Bovine, Sheep/Goat, Pig, Others), by Application (Food & Beverage, Animal/Pet Feed, Pharma, Personal Care & Cosmetics, Others), by Distribution Channel (B2B, B2C) and Regional Analysis, 2023-2030
Key findings of the study suggest:
- Global Tallow Market is anticipated to grow with a healthy growth rate of more than 6.53% over the forecast period 2023-2030.
- In the Animal Source, Cattle/Bovine emerged out as the leading market segment in 2022.
- In the Application segment, Food & Beverage emerged out as the leading market segment in 2022.
- In the Distribution Channel Type, B2B emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to expansion of the personal care sector in Asia and the Pacific.
- North America is expected to grow at higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
- Food & Beverage
- Animal/Pet Feed
- Personal Care & Cosmetics
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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