Asia-Pacific: Tallow Market 2024

Tallow Market Size in Asia-Pacific

The Asia-Pacific tallow market fell markedly to $X in 2022, with a decrease of X% against the previous year. The total consumption indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2018 indices. The level of consumption peaked at $X in 2021, and then dropped sharply in the following year.

Tallow Production in Asia-Pacific

In value terms, tallow production reduced to $X in 2022 estimated in export price. Overall, production showed a noticeable curtailment. The most prominent rate of growth was recorded in 2019 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Tallow Exports

Exports in Asia-Pacific

For the third year in a row, Asia-Pacific recorded growth in overseas shipments of tallow, which increased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tallow exports soared to $X in 2022. Over the period under review, exports recorded prominent growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Australia represented the main exporter of tallow in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. New Zealand (X tons) held the second position in the ranking, followed by Malaysia (X tons) and India (X tons). All these countries together took near X% share of total exports. The following exporters - South Korea (X tons) and Vietnam (X tons) - each reached a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to tallow exports from Australia stood at X%. At the same time, India (X%), Malaysia (X%), Vietnam (X%) and South Korea (X%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of X% from 2012-2022. By contrast, New Zealand (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Malaysia, India and South Korea increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) remains the largest tallow supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by New Zealand ($X), with a X% share of total exports. It was followed by Malaysia, with an X% share.

In Australia, tallow exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: New Zealand (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, picking up by X% against the previous year. In general, the export price posted tangible growth. The pace of growth appeared the most rapid in 2021 when the export price increased by X%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Australia ($X per ton), while India ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other leaders experienced more modest paces of growth.

Tallow Imports

Imports in Asia-Pacific

In 2022, purchases abroad of tallow decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports, however, recorded a strong expansion. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked at X tons in 2021, and then shrank in the following year.

In value terms, tallow imports skyrocketed to $X in 2022. In general, imports, however, posted prominent growth. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

Singapore was the largest importer of tallow in Asia-Pacific, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Malaysia (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by China (X%) and the Philippines (X%). The following importers - Afghanistan (X tons), South Korea (X tons) and Nepal (X tons) - each amounted to a X% share of total imports.

Singapore was also the fastest-growing in terms of the tallow imports, with a CAGR of X% from 2012 to 2022. At the same time, Malaysia (X%), Afghanistan (X%), Nepal (X%) and the Philippines (X%) displayed positive paces of growth. By contrast, South Korea (X%) and China (X%) illustrated a downward trend over the same period. Singapore (X p.p.), Malaysia (X p.p.), Afghanistan (X p.p.) and the Philippines (X p.p.) significantly strengthened its position in terms of the total imports, while South Korea and China saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported tallow in Asia-Pacific, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by China, with an X% share.

In Singapore, tallow imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Malaysia (X% per year) and China (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, surging by X% against the previous year. Overall, the import price posted temperate growth. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was China ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nepal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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