Asia: Tallow Market Overview 2021

Tallow Market Size in Asia

In 2020, the Asian tallow market increased by X% to $X, rising for the second year in a row after two years of decline. The market value increased at an average annual rate of +X% from 2007 to 2020; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2019 with an increase of X% y-o-y. The level of consumption peaked at $X in 2013; however, from 2014 to 2020, consumption remained at a lower figure.

Tallow Production in Asia

In value terms, tallow production rose remarkably to $X in 2020 estimated in export prices. Over the period under review, production enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2012 with an increase of X% y-o-y. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2020, production remained at a lower figure.

Production by Country in Asia

The countries with the highest volumes of tallow production in 2020 were China (X tonnes), India (X tonnes) and Iran (X tonnes), together accounting for X% of total production. Malaysia lagged somewhat behind, comprising a further X 2007 to 2020, the most notable rate of growth in terms of tallow production, amongst the leading producing countries, was attained by Malaysia, while tallow production for the other leaders experienced more modest paces of growth.

Tallow Exports

Exports in Asia

In 2020, overseas shipments of tallow increased by X% to X tonnes, rising for the fifth consecutive year after two years of decline. Overall, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, exports hit record highs in 2020 and are likely to see gradual growth in the near future.

In value terms, tallow exports soared to $X in 2020. in general, exports continue to indicate significant growth. The growth pace was the most rapid in 2013 when exports increased by X% y-o-y. The level of export peaked in 2020 and is likely to see gradual growth in the near future.

Exports by Country

Malaysia was the largest exporter of tallow in Asia, with the volume of exports amounting to X tonnes, which was near X% of total exports in 2020. India (X tonnes) occupied a X% share (based on tonnes) of total exports, which put it in second place, followed by South Korea (X%). The following exporters - Saudi Arabia (X tonnes) and China (X tonnes) - each finished at a X% share of total exports.

Malaysia was also the fastest-growing in terms of the tallow exports, with a CAGR of +X% from 2007 to 2020. at the same time, India (+X%), China (+X%), Saudi Arabia (+X%) and South Korea (+X%) displayed positive paces of growth. From 2007 to 2020, the share of Malaysia and India increased by +X% and +X% percentage points, while Saudi Arabia (-X p.p.) and South Korea (-X p.p.) saw their share reduced. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Malaysia ($X), India ($X) and South Korea ($X) were the countries with the highest levels of exports in 2020, with a combined X% share of total exports.

Malaysia (+X% per year) saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2020, the tallow export price in Asia amounted to $X per tonne, rising by X% against the previous year. Over the period from 2007 to 2020, it increased at an average annual rate of +X%. The most prominent rate of growth was recorded in 2009 when the export price increased by X% y-o-y. Over the period under review, export prices hit record highs at $X per tonne in 2013; however, from 2014 to 2020, export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. in 2020, major exporting countries recorded the following prices: in India ($X per tonne) and China ($X per tonne), while Saudi Arabia ($X per tonne) and South Korea ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Saudi Arabia, while the other leaders experienced more modest paces of growth.

Tallow Imports

Imports in Asia

In 2020, imports of tallow in Asia rose rapidly to X tonnes, increasing by X% against the previous year's figure. Overall, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The volume of import peaked at X tonnes in 2007; however, from 2008 to 2020, imports remained at a lower figure.

In value terms, tallow imports surged to $X in 2020. in general, imports, however, continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2011; however, from 2012 to 2020, imports remained at a lower figure.

Imports by Country

In 2020, Singapore (X tonnes) represented the key importer of tallow, comprising X% of total imports. China (X tonnes) held a X% share (based on tonnes) of total imports, which put it in second place, followed by Malaysia (X%). The Philippines (X tonnes), Taiwan (Chinese) (X tonnes) and Nepal (X tonnes) occupied a relatively small share of total imports.

Imports into Singapore increased at an average annual rate of +X% from 2007 to 2020. at the same time, Malaysia (+X%), Nepal (+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 2007-2020. by contrast, China (-X%) and Taiwan (Chinese) (-X%) illustrated a downward trend over the same period. While the share of Singapore (+X p.p.), Malaysia (+X p.p.) and the Philippines (+X p.p.) increased significantly in terms of the total imports from 2007-2020, the share of Taiwan (Chinese) (-X p.p.) and China (-X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Singapore, tallow imports increased at an average annual rate of +X% over the period from 2007-2020. 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 2020, the tallow import price in Asia amounted to $X per tonne, rising by X% against the previous year. Import price indicated slight growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2011 when the import price increased by X% year-to-year. As a result, import price reached the peak level of $X per tonne. from 2012 to 2020, the growth in terms of the import prices remained at a lower figure.

Average prices varied somewhat amongst the major importing countries. in 2020, major importing countries recorded the following prices: in the Philippines ($X per tonne) and Taiwan (Chinese) ($X per tonne), while Nepal ($X per tonne) and Malaysia ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Nepal, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform