GCC: Tallow Market 2025

Tallow Market Size in GCC

In 2022, the GCC tallow market decreased by -5.1% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated mild 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 +11.4% against 2019 indices. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market failed to regain momentum.

Tallow Production in GCC

In value terms, tallow production amounted to $X in 2022 estimated in export price. The total production indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by 41% against the previous year. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Tallow Exports

Exports in GCC

In 2022, shipments abroad of tallow was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports posted a buoyant increase. The most prominent rate of growth was recorded in 2018 when exports increased by 106% against the previous year. 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 soared to $X in 2022. Overall, exports continue to indicate resilient growth. The pace of growth appeared the most rapid in 2018 with an increase of 110% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia represented the largest exporting country with an export of around X tons, which finished at 73% of total exports. Kuwait (X tons) took the second position in the ranking, distantly followed by the United Arab Emirates (X tons). All these countries together held near 27% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the tallow exports, with a CAGR of +9.1% from 2012 to 2022. At the same time, the United Arab Emirates (+3.8%) displayed positive paces of growth. Kuwait experienced a relatively flat trend pattern. Saudi Arabia (+16 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates and Kuwait saw its share reduced by -2% and -13.3% from 2012 to 2022, respectively.

In value terms, Saudi Arabia ($X) remains the largest tallow supplier in GCC, comprising 72% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Saudi Arabia totaled +14.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (+3.0% per year) and the United Arab Emirates (+13.9% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, waning by -16.3% against the previous year. In general, the export price, however, posted noticeable growth. The growth pace was the most rapid in 2021 when the export price increased by 34% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced rapidly in the following year.

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 the United Arab Emirates ($X per ton), while Kuwait ($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 (+9.7%), while the other leaders experienced more modest paces of growth.

Tallow Imports

Imports in GCC

After two years of decline, overseas purchases of tallow increased by 13% to X tons in 2022. In general, imports, however, continue to indicate a pronounced decline. The most prominent rate of growth was recorded in 2016 with an increase of 166%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tallow imports dropped modestly to $X in 2022. Over the period under review, imports, however, recorded a perceptible decline. The pace of growth was the most pronounced in 2016 with an increase of 176% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates represented the largest importing country with an import of around X tons, which accounted for 73% of total imports. It was distantly followed by Kuwait (X tons) and Qatar (X tons), together constituting a 23% share of total imports. Oman (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +3.3% from 2012 to 2022. At the same time, Oman (+36.4%) and Qatar (+15.4%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +36.4% from 2012-2022. Kuwait experienced a relatively flat trend pattern. From 2012 to 2022, the share of the United Arab Emirates, Kuwait, Qatar and Oman increased by +38, +5.4, +4 and +3.3 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported tallow in GCC, comprising 65% of total imports. The second position in the ranking was held by Kuwait ($X), with an 18% share of total imports. It was followed by Qatar, with a 10% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to +8.2%. In the other countries, the average annual rates were as follows: Kuwait (+1.2% per year) and Qatar (+8.2% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, falling by -12.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2021 an increase of 38% against the previous year. As a result, import price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 the United Arab Emirates (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform