U.S.: Tallow Market 2024

Tallow Market Size in the U.S.

For the fourth year in a row, the U.S. tallow market recorded growth in sales value, which increased by 12% to $X in 2022. Over the period under review, consumption saw a prominent expansion. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in years to come.

Tallow Production in the U.S.

In value terms, tallow production rose modestly to $X in 2022. Over the period under review, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +83.2% against 2015 indices. The pace of growth appeared the most rapid in 2021 when the production volume increased by 52%. Over the period under review, production attained the maximum level in 2022 and is likely to continue growth in the immediate term.

Tallow Exports

Exports from the U.S.

For the fourth year in a row, the United States recorded decline in overseas shipments of tallow, which decreased by -5.1% to X tons in 2022. In general, exports continue to indicate a deep downturn. The growth pace was the most rapid in 2018 with an increase of 11% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, tallow exports reduced slightly to $X in 2022. Over the period under review, exports continue to indicate a noticeable contraction. The pace of growth was the most pronounced in 2021 when exports increased by 20%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Canada (X tons), Mexico (X tons) and Singapore (X tons) were the main destinations of tallow exports from the United States, together accounting for 98% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Singapore (with a CAGR of +25.5%), while the other leaders experienced mixed trend patterns.

In value terms, Mexico ($X), Canada ($X) and Singapore ($X) constituted the largest markets for tallow exported from the United States worldwide, together comprising 98% of total exports.

Among the main countries of destination, Singapore, with a CAGR of +46.0%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average tallow export price stood at $X per ton in 2022, rising by 4.3% against the previous year. Over the period under review, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tallow export price increased by +89.1% against 2018 indices. The pace of growth appeared the most rapid in 2021 an increase of 61% against the previous year. The export price peaked in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to Canada ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+16.3%), while the prices for the other major destinations experienced more modest paces of growth.

Tallow Imports

Imports into the U.S.

In 2022, imports of tallow into the United States skyrocketed to X tons, with an increase of 66% on the year before. Overall, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 68%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, tallow imports soared to $X in 2022. In general, imports posted a significant increase. The growth pace was the most rapid in 2021 when imports increased by 130% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

Canada (X tons), Australia (X tons) and Brazil (X tons) were the main suppliers of tallow imports to the United States, with a combined 79% share of total imports. Uruguay, New Zealand and Argentina lagged somewhat behind, together accounting for a further 21%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Uruguay (with a CAGR of +343.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tallow suppliers to the United States were Canada ($X), Australia ($X) and New Zealand ($X), with a combined 80% share of total imports. Brazil, Uruguay and Argentina lagged somewhat behind, together accounting for a further 20%.

Among the main suppliers, Argentina, with a CAGR of +431.8%, saw 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

The average tallow import price stood at $X per ton in 2022, growing by 24% against the previous year. In general, the import price saw resilient growth. The growth pace was the most rapid in 2021 an increase of 68% against the previous year. The import price peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Canada ($X per ton) and New Zealand ($X per ton), while the price for Argentina ($X per ton) and Brazil ($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 (+39.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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