Belgium: Tallow Market 2024

Tallow Market Size in Belgium

For the third consecutive year, the Belgian tallow market recorded growth in sales value, which increased by 11% to $X in 2022. Over the period under review, the total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +76.6% against 2015 indices. Over the period under review, the market attained the peak level in 2022 and is expected to retain growth in the immediate term.

Tallow Production in Belgium

In value terms, tallow production totaled $X in 2022 estimated in export price. Overall, production recorded a slight decline. The growth pace was the most rapid in 2013 with an increase of 21%. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

Tallow Exports

Exports from Belgium

Tallow exports from Belgium declined remarkably to X tons in 2022, falling by -22.5% compared with the year before. Overall, total exports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +4.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 35% against the previous year. As a result, the exports reached the peak of X tons, and then reduced notably in the following year.

In value terms, tallow exports reached $X in 2022. Over the period under review, exports, however, posted resilient growth. The pace of growth was the most pronounced in 2021 with an increase of 78% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The Netherlands (X tons), France (X tons) and the UK (X tons) were the main destinations of tallow exports from Belgium, together accounting for 62% of total exports. Hungary, Germany and Ireland lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +402.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for tallow exported from Belgium were the Netherlands ($X), France ($X) and the UK ($X), together comprising 64% of total exports. Hungary, Ireland and Germany lagged somewhat behind, together accounting for a further 34%.

Hungary, with a CAGR of +494.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tallow export price stood at $X per ton in 2022, rising by 46% against the previous year. Overall, the export price continues to indicate strong growth. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to France ($X per ton) and the UK ($X per ton), while the average price for exports to Germany ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hungary (+18.2%), while the prices for the other major destinations experienced more modest paces of growth.

Tallow Imports

Imports into Belgium

For the fourth year in a row, Belgium recorded decline in supplies from abroad of tallow, which decreased by -19.8% to X tons in 2022. Overall, imports recorded a perceptible decrease. The growth pace was the most rapid in 2014 with an increase of 20% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, tallow imports stood at $X in 2022. Over the period under review, imports, however, saw notable growth. The most prominent rate of growth was recorded in 2021 with an increase of 49%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, France (X tons) constituted the largest tallow supplier to Belgium, with a 57% share of total imports. Moreover, tallow imports from France exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was taken by Ireland (X tons), with a 7.5% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from France totaled -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.4% per year) and Ireland (-4.9% per year).

In value terms, France ($X) constituted the largest supplier of tallow to Belgium, comprising 55% of total imports. The second position in the ranking was held by Germany ($X), with a 21% share of total imports. It was followed by the Netherlands, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from France amounted to +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+11.5% per year) and the Netherlands (+13.0% per year).

Import Prices by Country

The average tallow import price stood at $X per ton in 2022, rising by 41% against the previous year. Overall, the import price saw a resilient expansion. The pace of growth was the most pronounced in 2021 an increase of 50%. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in years to come.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were the Netherlands ($X per ton) and Ireland ($X per ton), while the price for Argentina ($X per ton) and France ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+32.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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