Tallow Fatty Acid Market by Type (Monounsaturated Fatty Acid, Polyunsaturated Fatty Acid, and Saturated Fatty Acid), Form (Solid and Liquid), and End User (Animal Feed, Cosmetics and Personal Care Industry, Food & Beverages Industry, Biodiesel, and Others): Global Opportunity Analysis and Industry Forecast 2021–2030″ According to the report the global tallow fatty market estimated at $79.82 billion in 2020, and is expected to reach $173.09 billion by 2030, manifesting a CAGR of 6.9% from 2021 to 2030.
Increase in demand from downstream industries including personal care and detergent industries, rise in demand for tallow fatty acids in the food and beverage industry, and surge in use of fatty acids in pharmaceutical and chemical industries boost the growth of the global tallow fatty market. On the other hand, labeling and safety regulations for tallow fatty acid products and rise in concerns regarding the health effects of fatty acid’s overconsumption restrain the market to certain extent. Nevertheless, growth in demand from emerging markets and development of applications of fatty acid as trans-fat are expected to provide lucrative opportunities to the market players.
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Covid-19 Scenario:
The outbreak of the Covid-19 pandemic massively affected the tallow fatty acid market. This is owing to the factors such as lockdown rules & regulations and declined demand from few fast-moving consumer good (FMCG) products. However, the government bodies are relaxing the regulations and the market has started to revive. Furthermore, the vaccination drives implemented across various nations are also expected to assist the market to recoup soon.
Based on type, the monounsaturated fatty acid segment dominated the market with highest share in 2020, accounting for more than two-fifths of the total share, and is estimated to maintain its lead position during the forecast period. This is attributed to its widespread use in the production of soaps and cosmetics. On the other hand, the saturated fatty acids segment is projected to witness the highest CAGR of 7.9% from 2021 to 2030. Saturated tallow fatty acids have excellent conditioning and moisturizing properties, which are surging their demand in the cosmetic and soap & detergent industries. This factor propels the growth of the segment.
Based on form, the solid segment held the highest market share in 2020, accounting for more than three-fifths of the global tallow fatty market, and is estimated to maintain its dominance throughout the forecast period. Increased demand from downstream industries such as biodiesel, poultry, oleochemicals, and pet food boosts the growth of the segment. On the other hand, the liquid segment is expected to showcase the fastest CAGR of 7.0% from 2021 to 2030. The fact that oils are primarily used for cooking and in biodiesel, where liquid form is preferred over solid form augments the growth of the segment.
Based on region, Europe, followed by North America, accounted for the maximum revenue share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is projected to continue its dominant share by 2030. Tallow fatty acid is widely used in rubber and plastics industries due to its ability to provide stabilizing, lubricating, and gelling properties. This fact drives the demand for tallow fatty acid in the province. However, Asia-Pacific is estimated to showcase the largest CAGR of 8.7% during the forecast period. Personal care and cosmetics manufacturers use tallow-based stearic acids in products such as foundations, face powders, and eyeliners. This factor leads to the growth of the market in this region.
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The major players operating in the tallow fatty acid industry are Ajinomoto Co., Inc., Australian Tallow Producers, Baker Commodities Inc., Cargill, Darling industries, Darling Ingredients, Inc., Jacob Stern & Sons Tallow, SARIA SE & Co. KG, Parchem, Cailà & Parés, and Vantage Specialty Chemicals Inc.
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