Report Update Nov 1, 2024

Philippines - Tallow - Market Analysis, Forecast, Size, Trends and Insights

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Philippines: Tallow Market 2024

Tallow Market Size in the Philippines

For the seventh consecutive year, the Philippine tallow market recorded growth in sales value, which increased by 61% to $X in 2022. Over the period under review, consumption showed strong growth. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Tallow Exports

Exports from the Philippines

In 2022, the amount of tallow exported from the Philippines soared to X tons, increasing by 38% on 2021 figures. In general, exports, however, faced a dramatic downturn. The pace of growth was the most pronounced in 2020 with an increase of 270%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tallow exports skyrocketed to $X in 2022. Over the period under review, exports, however, faced a drastic downturn. The growth pace was the most rapid in 2014 with an increase of 1,140%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Thailand (X tons) was the main destination for tallow exports from the Philippines, with a 83% share of total exports. Moreover, tallow exports to Thailand exceeded the volume sent to the second major destination, Taiwan (Chinese) (X tons), fivefold.

From 2012 to 2022, the average annual growth rate of volume to Thailand stood at -14.9%.

In value terms, Thailand ($X) emerged as the key foreign market for tallow exports from the Philippines, comprising 81% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 19% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Thailand totaled -12.7%.

Export Prices by Country

In 2022, the average tallow export price amounted to $X per ton, remaining constant against the previous year. Overall, the export price, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2014 when the average export price increased by 484% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to Thailand amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Thailand (+2.7%), while the prices for the other major destinations experienced mixed trend patterns.

Tallow Imports

Imports into the Philippines

In 2022, tallow imports into the Philippines soared to X tons, growing by 16% against 2021 figures. Over the period under review, imports continue to indicate buoyant growth. The pace of growth appeared the most rapid in 2016 when imports increased by 53% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, tallow imports skyrocketed to $X in 2022. Overall, imports enjoyed a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia (X tons), Ireland (X tons) and the UK (X tons) were the main suppliers of tallow imports to the Philippines, with a combined 91% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Ireland (with a CAGR of +115.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constituted the largest supplier of tallow to the Philippines, comprising 59% of total imports. The second position in the ranking was held by Ireland ($X), with a 28% share of total imports. It was followed by the UK, with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Australia stood at +20.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Ireland (+134.1% per year) and the UK (+79.2% per year).

Import Prices by Country

The average tallow import price stood at $X per ton in 2022, growing by 52% against the previous year. Overall, the import price showed a remarkable increase. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Australia ($X per ton) and Ireland ($X per ton), while the price for the UK ($X per ton) and New Zealand ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+11.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tallow in the world?

The country with the largest volume of tallow consumption was the United States, accounting for 50% of total volume. Moreover, tallow consumption in the United States exceeded the figures recorded by the second-largest consumer, Brazil, fivefold. Singapore ranked third in terms of total consumption with a 7.1% share.

What are the largest producers of tallow in the world?

The United States remains the largest tallow producing country worldwide, comprising approx. 51% of total volume. Moreover, tallow production in the United States exceeded the figures recorded by the second-largest producer, Brazil, fivefold. Australia ranked third in terms of total production with a 7.4% share.

What are the leading suppliers of tallow to the Philippines?

In value terms, the largest tallow suppliers to the Philippines were Ireland, Australia and the UK, with a combined 88% share of total imports.

What are the leading importers of tallow from the Philippines?

In value terms, the largest markets for tallow exported from the Philippines were Taiwan Chinese) and Thailand.

What is the average export price for tallow in the Philippines?

The average tallow export price stood at $2,490 per ton in 2021, rising by 16% against the previous year.

What is the average import price for tallow in the Philippines?

In 2021, the average tallow import price amounted to $976 per ton, growing by 2.3% against the previous year.

This report provides an in-depth analysis of the tallow market in the Philippines. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 1225 - Tallow

Country coverage:

Philippines

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in the Philippines
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023