At 5.3% CAGR, Europe Tallow Market is Projected to be Worth US$ 1,778.31 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Europe tallow market was valued at US$ 1,174.80 million in 2023 and is expected to reach US$ 1,778.31 million by 2031, registering a CAGR of 5.3% from 2023 to 2031. Natural beauty trend boost tallow-based skin care products and surging demand for biofuel are among the critical factors attributed to drive the Europe tallow market growth.

The limited availability of fossil fuel-based resources, rising awareness about curbing carbon emissions, increasing need for cleaner fuel, and stringent government regulations on the desulfurization of petroleum products are expected to propel the demand for biofuel. Biofuels reduce reliance on fossil fuels and decrease greenhouse gas emissions. As the feedstock material used to produce biofuels can be regenerated more quickly than conventional fossil fuels, they are considered renewable. Tallow, produced from animal fats, is a productive and long-lasting feedstock for manufacturing biofuels such as biodiesel. Its usage in biodiesel results in lower carbon emissions compared to regular diesel. The government policies and regulations boost biofuel production. Thus, rising demand and production of biofuel are expected to create huge opportunities for the Europe tallow market during the forecast period.

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

By source, the Europe tallow market is segmented into beef, sheep, and others. The beef segment held 84.5% share of Europe tallow market share in 2023, amassing US$ 993.00 million. It is projected to garner US$ 1,487.13 million by 2031 to register 5.2% CAGR during 2023–2031.

In terms of end-use industry, the Europe tallow market is segmented into food & beverages, personal care & cosmetics, lubricants, biofuel, animal nutrition, and others. The biofuel segment held 39.8% share of Europe tallow market share in 2023, amassing US$ 468.03 million. It is projected to garner US$ 696.13 million by 2031 to register 5.1% CAGR during 2023–2031.

Based on country, the Europe tallow market is categorized into Germany, France, Italy, the UK, Spain, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 41.4% share of Europe tallow market in 2023. It was assessed at US$ 486.37 million in 2023 and is likely to hit US$ 688.03 million by 2031, registering a CAGR of 4.4% during 2023–2031.

Key players operating in the Europe tallow market are Cargill Inc; Dalian Daping Oil Chemicals Co. Ltd; ECSA Chemicals SA; HRR Enterprises, Inc; KRV Yağ ve Kemik San Tic. A.Ş; Leo Group Ltd; Minerva SA; and Targray Technology International Inc, 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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