Beef Tallow Trends and Forecast
The future of the global beef tallow market looks promising with opportunities in the soap and cosmetic markets. The global beef tallow market is expected to grow with a CAGR of 3.2% from 2024 to 2030. The major drivers for this market are increasing demand for beef tallow in the food industry, increasing demand for beef tallow in animal feed and pet food industries, and price and availability of alternative oils and fats.
• Lucintel forecasts that purity 99% is expected to witness the higher growth over the forecast period.
• Within this market, soap is expected to witness the higher growth.
• North America is expected to witness highest growth over the forecast period.
United States, major beef producers like Tyson Foods and Cargill have announced initiatives to enhance sustainability in their operations, aiming to reduce environmental impact while meeting growing demand for tallow-based products. These initiatives include investing in renewable energy and exploring new technologies for waste reduction.
Australia, the government has set ambitious targets to increase beef exports, driving the demand for beef tallow as a byproduct of the meat industry. Additionally, companies like JBS Australia have announced investments in infrastructure to expand their tallow processing capacity, aligning with the governmentÄX%$%Xs export goals.
Brazil, efforts to boost beef production have led to increased tallow output. Companies like Minerva Foods have announced plans to expand their tallow processing facilities to meet rising demand from both domestic and international markets.
European Union, stricter regulations on animal byproducts have influenced market dynamics, leading companies to focus on innovation and sustainability. Initiatives such as circular economy strategies and investments in alternative uses for tallow demonstrate a shift towards more environmentally friendly practices.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Beef Tallow by Segment
The study includes a forecast for the global beef tallow by type, application, and region.
Beef Tallow Market by Type [Shipment Analysis by Value from 2018 to 2030]:
• Purity 99%
• Purity 98%
Beef Tallow Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Soap
• Cosmetic
• Others
Beef Tallow Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Beef Tallow Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies beef tallow companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the beef tallow companies profiled in this report include-
• Indian Feeds Company
• New Light Oil Traders
• Star Industrial Suppliers
• Al Naseem Foods India
• Akson Oiltech
Recent Development in the Beef Tallow Market
Tyson Foods: Tyson Foods announced a sustainability initiative to reduce its carbon footprint by 30% by 2030. As part of this initiative, the company plans to invest in renewable energy sources and implement more efficient production processes across its beef tallow operations.
Cargill: Cargill unveiled a new line of premium beef tallow products aimed at meeting the growing demand for high-quality fats in the food industry. These products are sourced from grass-fed cattle and are marketed as healthier alternatives to traditional tallow.
JBS: JBS announced plans to expand its beef tallow production capacity in response to increasing global demand. The company will invest in new processing facilities and technology to streamline its production processes and improve efficiency.
Smithfield Foods: Smithfield Foods launched a new line of beef tallow-based skincare products, tapping into the growing trend of natural and sustainable beauty products. The companyÄX%$%Xs skincare line includes moisturizers, lip balms, and soaps made from ethically sourced beef tallow.
Marfrig Global Foods: Marfrig Global Foods partnered with a leading biotech company to develop innovative biodegradable packaging materials made from beef tallow derivatives. This initiative aims to reduce plastic waste in the food industry and promote sustainability across the supply chain.
Features of the Global Beef Tallow Market
Market Size Estimates: Beef tallow market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Beef tallow market size by type, application, and region in terms of value ($B).
Regional Analysis: Beef tallow market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the beef tallow market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the beef tallow market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for beef tallow market?
Answer: The global beef tallow market is expected to grow with a CAGR of 3.2% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the beef tallow market?
Answer: The major drivers for this market are increasing demand for beef tallow in the food industry, increasing demand for beef tallow in animal feed and pet food industries, and price and availability of alternative oils and fats.
Q3. What are the major segments for beef tallow market?
Answer: The future of the global beef tallow market looks promising with opportunities in the soap and cosmetic markets.
Q4. Who are the key beef tallow market companies?
Answer: Some of the key beef tallow companies are as follows:
• Indian Feeds Company
• New Light Oil Traders
• Star Industrial Suppliers
• Al Naseem Foods India
• Akson Oiltech
Q5. Which beef tallow market segment will be the largest in future?
Answer: Lucintel forecasts that purity 99% is expected to witness the higher growth over the forecast period.
Q6. In beef tallow market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the beef tallow market by type (purity 99% and purity 98%), application (soap, cosmetic, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
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