At 6.5% CAGR, Asia Pacific Tallow Market is Projected to be Worth US$ 1,071.78 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Asia Pacific tallow market was valued at US$ 646.29 million in 2023 and is expected to reach US$ 1,071.78 million by 2031, registering a CAGR of 6.5% from 2023 to 2031. Increasing use of tallow for animal nutrition and surging demand for biofuel are among the critical factors attributed to drive the Asia Pacific tallow market growth.

Tallow is extensively used as an animal feed and pet food ingredient. The primary benefit of using fats in animal diets is their energy contribution. Fats provide the most concentrated energy of all food/feed materials, containing about 37 kJ of energy per gram. Tallow is typically pressed into cakes and used for animal feed, especially for dogs and hogs, or as fish bait. In tallow, less than 3% of free fatty acids are present. Its triglyceride structure is robust against oxidative rancidity because of its increased amount of saturated fatty acids. Therefore, it is safe to add to poultry meals at a level of 3–4%. It is a helpful feed ingredient for poultry in the summer when they require a quick supply of energy in the form of fats to prevent heat stress and the birds' consequent death. It is also beneficial in treating ascites in birds, particularly during the winter. Thus, tallow is significantly used as a poultry feed ingredient. Polyunsaturated fatty acids called essential fatty acids (EFA) need to be included in the diet of pets since their bodies are unable to synthesize these vital nutrients. Vegetable oils made from sunflower, safflower, or soybean and animal fats such as tallow include omega-6 fatty acids. For the skin barrier to remain healthy and intact, omega-6 fatty acids are essential. Moreover, the pet adoption is significantly increasing worldwide. For optimum health, a pet's diet must include vital fatty acids. This has resulted to adoption of tallow in the manufacturing of pet food. Thus, the rising adoption of pets across the world and increasing awareness about pet health among pet owners boost the demand for pet food, which propels the requirement for animal fat such as tallow.

On the contrary, availability of alternatives hampers the growth of Asia Pacific tallow market.

By source, the Asia Pacific tallow market is segmented into beef, sheep, and others. The beef segment held 81.8% share of Asia Pacific tallow market share in 2023, amassing US$ 528.35 million. It is projected to garner US$ 865.92 million by 2031 to register 6.4% CAGR during 2023–2031.

In terms of end-use industry, the Asia Pacific tallow market is segmented into food & beverages, personal care & cosmetics, lubricants, biofuel, animal nutrition, and others. The biofuel segment held 35.4% share of Asia Pacific tallow market share in 2023, amassing US$ 228.97 million. It is projected to garner US$ 370.47 million by 2031 to register 6.2% CAGR during 2023–2031.

Based on country, the Asia Pacific tallow market is categorized into China, Japan, India, Australia, South Korea, the Rest of Asia Pacific. Our regional analysis states that China captured 61.9% share of Asia Pacific tallow market in 2023. It was assessed at US$ 399.86 million in 2023 and is likely to hit US$ 637.49 million by 2031, registering a CAGR of 6.0% during 2023–2031.

Key players operating in the Asia Pacific tallow market are AGRI INTERNATIONAL, Cargill Inc, Craig Mostyn Group, Dalian Daping Oil Chemicals Co. Ltd, Minerva SA, NH Foods Australia Pty Ltd, Pridham Pty Ltd, Targray Technology International Inc., and Tassie Tallow, among others.

• In April 2021: Cargill and their affiliates have entered into a unique 50/50 joint venture to produce and market renewable diesel - a green fuel experiencing strong, rising demand. The joint venture is called Heartwell Renewables and will result in the construction of a new production plant and more than 50 jobs in Hastings, Nebraska. The plant will have the ability to produce approximately 80 million gallons annually of renewable diesel.
• In October 2020: Dalian Daping Oil Chemicals Co. Ltd expanded its production line of several fatty acid and oil products, including stearic acid, high iodine value acid, soybean oleic fatty acid, tall oleic fatty acid, antiwear agent, tallow distilled fatty acids, plant pitch/residues. These products are widely used in several industries, including paint, chemical, flotation agents, and collecting agents.

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