The Global Tallow Fatty Acid Market size is expected to reach $137.8 billion by 2027, rising at a market growth of 11.3% CAGR during the forecast period. Tallow fatty acids belong to the group of fatty acids, which are obtained from animal fat, mainly from the fat of bovine. These acids are made from the combination of saturated fatty acids like palmitic, stearic, and myristic and unsaturated fatty acids like linoleic, palmitoleic, and oleic. The beef tallow or animal fat is firstly hydrolyzed in order to obtain the tallow fatty acids. Before the distillation process, this fatty acid is sometimes hydrogenated.
The demand for healthcare services like medicines and drugs is propelling with the increase in the aging population and hence, boosting the growth of the pharmaceutical industry coupled with accelerating the growth of the tallow fatty acid market. Additionally, the factors such as a swift increase in several manufacturing industries and augmented lubricant production are expected to display massive opportunities for market growth. Moreover, the growing demand for lubricants in the automotive industry for the efficient and effective component procedure and increasing investment in the chemical industry by manufacturers would push the growth of the market.
The COVID-19 virus has spread in over 100 countries and caused huge losses of lives around the world. In addition, World Health Organization declared the pandemic a public health emergency. Global industries like tourism, finance, and manufacturing have seen a huge loss during the pandemic. Additionally, the government of various nations implemented severe restrictions on traveling, due to which the supply chain, also got hampered. After a huge loss, industries are recovering from that phase and are trying to come back into the market.
The tallow fatty acid market has also seen the negative impact of the COVID-19 pandemic. The demand for various fast-moving consumer goods (FMCG) products like personal care products, soaps, and detergent industries has decreased due to which the growth of the tallow fatty acid market has also declined. Further, the demand for tallow fatty acid in other industries like textile, rubber, and oil field consumption has also reduced as the manufacturing of the products remained closed during the pandemic.
Consumers are now inclining towards consuming healthy food and products, which help them in absorbing proper vitamins and protein that are needed for the human body. Beef tallow not only helps in absorbing proper nutrients from food but also offers some health benefits. It is enriched with nutrients like A, D, E, K, and B1. In addition, it also helps in boosting and improving the immune system. The unprocessed fats like beef tallow allow easy absorption of fat-soluble vitamins that help in making the immune system strong.
The growing population across the world is increasing the demand for food & beverages and personal care. The increase in the consumption rate of food & beverages is also growing the demand for tallow fatty acid. In the personal care industry, tallow fatty acid is commonly used in the production of shaving creams and other gels. In addition, the increasing disposable income and rising personal care hygiene awareness among consumers are expected to surge the growth of the tallow fatty acids market.
Vegetable oil is used as an alternative to animal fat. This oil finds its application in the production of candles, greases, detergents, lubricants, and soaps. Vegetable oils are obtained from sources such as fruits, seeds, and nuts. They are enriched with nutrients due to which, it is massively used in cooking, food products dairy & non-dairy products and personal care products. The increasing demand for vegetable oil is hampering the growth of the tallow fatty acid market.
Based on Type, the market is segmented into Polyunsaturated Fatty Acid, Monounsaturated Fatty Acid and Saturated Fatty Acid. The monounsaturated fatty acid segment registered the maximum revenue share in 2020 and is anticipated to be a leading segment during the forecast period. Factor such as the excessive utilization in the production and use of cosmetics and soaps across the world is responsible for the growth of this segment.
Based on Form, the market is segmented into Solid and Liquid. The liquid segment is estimated to witness the fastest growth rate over the forecast period. For cooking, oil is the most preferred ingredient and therefore, is responsible to augment the growth of the liquid segment in the tallow fatty acid market.
Based on End User, the market is segmented into Food & Beverages Sector, Cosmetic & Personal Care Sector, Biodiesel, Animal Feed and Other end users. The Food & Beverages Sector market dominated the Global Tallow Fatty Acid Market by End User in 2020, growing at a CAGR of 10.5 % during the forecast period. The Cosmetic & Personal Care Sector market is expected to witness highest CAGR of 10.6% during (2021 - 2027).
| Report Attribute | Details |
|---|---|
| Market size value in 2020 | USD 60.3 Billion |
| Market size forecast in 2027 | USD 137.8 Billion |
| Base Year | 2020 |
| Historical Period | 2017 to 2019 |
| Forecast Period | 2021 to 2027 |
| Revenue Growth Rate | CAGR of 11.3% from 2021 to 2027 |
| Number of Pages | 195 |
| Number of Tables | 360 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Form, End User, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
|
| Restraints |
|
Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. North America is experiencing a promising growth rate in the tallow fatty acid and developing nations in this region are expected to fuel the growth of the tallow fatty acid market in this region. The two major factors like improvements in the market of Canada & the US and growing healthcare expenditure are accountable for this surge in the market. In addition, the implementation of robust government policies to maintain hygiene in the food & beverages and medical industries is another factor that is bolstering the growth of the tallow fatty acid market.
Free Valuable Insights: Global Tallow Fatty Acid Market size to reach USD 137.8 Billion by 2027
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ajinomoto Co., Inc., Baker Commodities, Inc., Malaysian Tallow Producers, Cargill Corporation, Darling Ingredients, Jacob Stern & Sons, Inc., SARIA A/S GmbH & Co. KG, Parchem – fine & specialty chemicals, Cailà & Parés, S.A., and Vantage Specialty Chemicals (Jordan Company).
By Type
By Form
By End User
By Geography
The global tallow fatty acid market size is expected to reach $137.8 billion by 2027.
Growing demand for tallow fatty acid in various industries are driving the market in coming years, however, increasing demand for vegetable oil as a substitute for tallow fatty acid limited the growth of the market.
Ajinomoto Co., Inc., Baker Commodities, Inc., Malaysian Tallow Producers, Cargill Corporation, Darling Ingredients, Jacob Stern & Sons, Inc., SARIA A/S GmbH & Co. KG, Parchem – fine & specialty chemicals, Caila & Pares, S.A., and Vantage Specialty Chemicals (Jordan Company).
The solid segment dominated the market by acquiring maximum market share in 2020 and will exhibit the similar kind of trend during the forecast period.
The saturated fatty acids segment is anticipated to acquire the highest growth rate during the forecast period.
Asia-Pacific is expected to display the highest growth rate over the forecast year. Manufacturers of cosmetic and personal care utilize tallow-based stearic acids in items like eyeliners, foundations, and face powders.
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
