Asia: Tallow Market 2022

Tallow Market Size in Asia

In 2021, after two years of growth, there was significant decline in the Asian tallow market, when its value decreased by -X% to $X. In general, consumption, however, saw a pronounced downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Tallow Production in Asia

In value terms, tallow production fell to $X in 2021 estimated in export prices. In general, production, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2013 when the production volume increased by X% y-o-y. As a result, production reached the peak level of $X. From 2014 to 2021, production growth remained at a lower figure.

Production By Country in Asia

The countries with the highest volumes of tallow production in 2021 were China (X tonnes), India (X tonnes) and Iran (X tonnes), together accounting for X% of total production.

From 2012 to 2021, the biggest increases were in China (+X%), while tallow production for the other leaders experienced mixed trends in the production figures.

Tallow Exports

Exports in Asia

After five years of growth, overseas shipments of tallow decreased by -X% to X tonnes in 2021. Over the period under review, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% year-to-year. Over the period under review, the exports reached the maximum at X tonnes in 2020, and then shrank notably in the following year.

In value terms, tallow exports shrank significantly to $X in 2021. Overall, exports, however, enjoyed significant growth. The growth pace was the most rapid in 2013 with an increase of X% y-o-y. The level of export peaked at $X in 2020, and then dropped dramatically in the following year.

Exports by Country

India prevails in tallow exports structure, resulting at X tonnes, which was approx. X% of total exports in 2021. It was distantly followed by South Korea (X tonnes), constituting a X% share of total exports. Malaysia (X tonnes) and Saudi Arabia (X tonnes) occupied a little share of total exports.

India was also the fastest-growing in terms of the tallow exports, with a CAGR of +X% from 2012 to 2021. At the same time, South Korea (+X%), Saudi Arabia (+X%) and Malaysia (+X%) displayed positive paces of growth. India (+X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia, South Korea and Malaysia saw its share reduced by -X%, -X% and -X% from 2012 to 2021, respectively.

In value terms, India ($X) emerged as the largest tallow supplier in Asia, comprising X% of total exports. The second position in the ranking was occupied by South Korea ($X), with a X% share of total exports. It was followed by Malaysia, with a X% share.

In India, tallow exports expanded at an average annual rate of +X% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: South Korea (+X% per year) and Malaysia (+X% per year).

Export Prices by Country

The tallow export price in Asia stood at $X per tonne in 2021, increasing by X% against the previous year. Export price indicated a mild expansion from 2012 to 2021: its price increased at an average annual rate of +X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, tallow export price increased by +X% against 2019 indices. The level of export peaked at $X per tonne in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in India ($X per tonne) and Malaysia ($X per tonne), while Saudi Arabia ($X per tonne) and South Korea ($X per tonne) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (+X%), while the other leaders experienced mixed trends in the export price figures.

Tallow Imports

Imports in Asia

In 2021, after two years of growth, there was decline in supplies from abroad of tallow, when their volume decreased by -X% to X tonnes. The total import volume increased at an average annual rate of +X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at X tonnes in 2020, and then reduced modestly in the following year.

In value terms, tallow imports contracted to $X in 2021. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Singapore represented the largest importer of tallow in Asia, with the volume of imports recording X tonnes, which was near X% of total imports in 2021. China (X tonnes) occupied a X% share (based on tonnes) of total imports, which put it in second place, followed by Malaysia (X%). The following importers - the Philippines (X tonnes), Taiwan (Chinese) (X tonnes) and Japan (X tonnes) - together made up X% of total imports.

Imports into Singapore increased at an average annual rate of +X% from 2012 to 2021. At the same time, Malaysia (+X%) and the Philippines (+X%) displayed positive paces of growth. Moreover, Malaysia emerged as the fastest-growing importer imported in Asia, with a CAGR of +X% from 2012-2021. By contrast, China (-X%), Taiwan (Chinese) (-X%) and Japan (-X%) illustrated a downward trend over the same period. Singapore (+X p.p.), Malaysia (+X p.p.) and the Philippines (+X p.p.) significantly strengthened its position in terms of the total imports, while Taiwan (Chinese), Japan and China saw its share reduced by -X%, -X% and -X% from 2012 to 2021, respectively.

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

From 2012 to 2021, the average annual rate of growth in terms of value in Singapore stood at +X%. The remaining importing countries recorded the following average annual rates of imports growth: China (-X% per year) and Malaysia (+X% per year).

Import Prices by Country

In 2021, the tallow import price in Asia amounted to $X per tonne, dropping by -X% against the previous year. In general, the import price recorded a noticeable decline. The growth pace was the most rapid in 2020 an increase of X% y-o-y. Over the period under review, import prices attained the maximum at $X per tonne in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of destination: the country with the highest price was China ($X per tonne), while Japan ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform