Europe: Tallow Market 2024

Tallow Market Size in Europe

In 2022, after two years of growth, there was decline in the Europe tallow market, when its value decreased by -2.9% to $X. The market value increased at an average annual rate of +1.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2021, and then declined slightly in the following year.

Tallow Production in Europe

In value terms, tallow production rose to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the production volume increased by 33% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Tallow Exports

Exports in Europe

After two years of decline, overseas shipments of tallow increased by 9.1% to X tons in 2022. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 10%. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, tallow exports soared to $X in 2022. In general, exports posted strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, France (X tons), distantly followed by Germany (X tons), Ireland (X tons), the Netherlands (X tons), the UK (X tons) and Italy (X tons) were the largest exporters of tallow, together making up 77% of total exports. Poland (X tons), Portugal (X tons), Belgium (X tons), Denmark (X tons) and Sweden (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +13.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest tallow supplying countries in Europe were France ($X), Germany ($X) and Ireland ($X), with a combined 58% share of total exports. The Netherlands, the UK, Italy, Belgium, Poland, Denmark, Sweden and Portugal lagged somewhat behind, together accounting for a further 37%.

Portugal, with a CAGR of +25.6%, recorded the highest rates of growth with regard to the value of exports, in terms of 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

The export price in Europe stood at $X per ton in 2022, increasing by 34% against the previous year. Overall, the export price saw a tangible expansion. The most prominent rate of growth was recorded in 2021 when the export price increased by 42%. Over the period under review, the export prices hit record highs in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while Portugal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Portugal (+10.2%), while the other leaders experienced more modest paces of growth.

Tallow Imports

Imports in Europe

Tallow imports reduced to X tons in 2022, which is down by -13.5% against the previous year's figure. In general, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 4.9% against the previous year. The volume of import peaked at X tons in 2021, and then declined in the following year.

In value terms, tallow imports rose rapidly to $X in 2022. Overall, imports, however, continue to indicate a noticeable increase. The pace of growth was the most pronounced in 2021 with an increase of 56% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the immediate term.

Imports by Country

In 2022, Belgium (X tons) and the Netherlands (X tons) were the key importers of tallow in Europe, together generating 47% of total imports. Spain (X tons) ranks next in terms of the total imports with a 9.7% share, followed by Germany (7.5%) and the UK (4.5%). Italy (X tons), Poland (X tons), Austria (X tons), Sweden (X tons), Russia (X tons), France (X tons), Ireland (X tons) and Slovakia (X tons) took a little share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Poland (with a CAGR of +22.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the Netherlands ($X) and Spain ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 61% share of total imports. Germany, Poland, the UK, Italy, Sweden, France, Russia, Ireland, Austria and Slovakia lagged somewhat behind, together accounting for a further 30%.

Among the main importing countries, Poland, with a CAGR of +31.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Europe amounted to $X per ton, increasing by 28% against the previous year. In general, the import price posted a temperate expansion. The growth pace was the most rapid in 2021 when the import price increased by 49%. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+7.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform