GCC: Tallow Market 2024

Tallow Market Size in GCC

After two years of growth, the GCC tallow market decreased by X% to $X in 2022. The total consumption indicated mild growth 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. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Tallow Production in GCC

In value terms, tallow production totaled $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Tallow Exports

Exports in GCC

In 2022, the amount of tallow exported in GCC reduced modestly to X tons, approximately mirroring 2021. Over the period under review, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2013 when exports increased by X%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, tallow exports contracted to $X in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X%. The level of export peaked at $X in 2021, and then reduced slightly in the following year.

Exports by Country

Saudi Arabia was the main exporter of tallow in GCC, with the volume of exports reaching X tons, which was near X% of total exports in 2022. Kuwait (X tons) held the second position in the ranking, distantly followed by the United Arab Emirates (X tons). All these countries together took approx. X% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the tallow exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Kuwait (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Saudi Arabia and Kuwait increased by X and X percentage points, respectively.

In value terms, the largest tallow supplying countries in GCC were Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, continues to indicate a remarkable increase. The growth pace was the most rapid in 2021 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton, and then reduced slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

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

Tallow Imports

Imports in GCC

After three years of growth, supplies from abroad of tallow decreased by X% to X tons in 2022. Over the period under review, imports recorded a slight decline. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports remained at a lower figure.

In value terms, tallow imports fell markedly to $X in 2022. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when imports increased by X%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) represented the largest importer of tallow, making up X% of total imports. Kuwait (X tons) held the second position in the ranking, distantly followed by Oman (X tons). All these countries together held near X% share of total imports. Qatar (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%), Qatar (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Kuwait, Oman, the United Arab Emirates and Qatar increased by X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported tallow in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports. It was followed by Oman, with a X% share.

In the United Arab Emirates, 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: Kuwait (X% per year) and Oman (X% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, approximately reflecting the previous year. Over the period under review, the import price saw a slight expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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