The Tallow Fatty Acids Market Size is Expected to Reach a Valuation of Approximately USD 173.09 Billion by 2030
The Global Tallow Fatty Acids Market is estimated at USD 79.82 Billion in 2020 and is projected to reach USD 173.09 Billion by 2030, growing at a CAGR of 6.9% from 2021 to 2030
PORTLAND, OREGON, USA, October 29, 2022 /EINPresswire.com/ — Increasing demand from downstream industries, including personal care and detergent industries, and increasing demand for tallow fatty acids in food and beverage industry are driving the growth of the global tallow fat market.
Driver, restraint and opportunities-
Increasing demand from downstream industries including personal care and detergent industries, increasing demand for tallow fatty acids in the food and beverage industry, and increasing use fatty acids in the pharmaceutical and chemical industries are driving the growth of the global tallow fats market.
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On the other hand, labeling and safety regulations for tallow fatty acid products and growing concerns about the health effects of fatty acid overconsumption are restraining the market to some extent. Nonetheless, growing demand from emerging markets and expanding applications of fatty acids as trans fats are expected to provide lucrative opportunities for market players.
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Major Market Players-
Cherished Ingredients, Inc.
Jacob Stern & Sons Tallow
SARIA SE & Co. KG
Ajinomoto Co., Inc.
Australian tallow producers
Baker Commodities Inc.
Cherished industries, Cailà & Parés
Vantage Specialty Chemicals Inc.
The outbreak of the Covid-19 pandemic has massively affected the tallow fatty acids market. This is due to factors such as lockdown rules and regulations and lower demand for a few FMCGs.
However, government bodies are easing regulations and the market has started to recover. Additionally, vaccination campaigns implemented in various countries are also expected to help the market recover quickly.
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Leading monounsaturated fatty acids segment throughout the forecast period –
Based on type, the monounsaturated fatty acids segment dominated the market with the highest share in 2020, accounting for more than two-fifths of the total share, and is expected to maintain its leading position during the forecast period. This is attributed to its widespread use in the production of soaps and cosmetics. On the other hand, saturated fatty acids segment is expected to witness the highest CAGR of 7.9% from 2021 to 2030. Saturated fatty acids from tallow have excellent conditioning and moisturizing properties, which increase their demand. in the cosmetics and soap and detergent industries. This factor propels the growth of the segment.
Strong segment to dominate the market throughout the forecast period-
Based on form, the solid segment held the highest market share in 2020, accounting for more than three-fifths of the global tallow fat market, and is expected to maintain its dominance throughout the forecast period. Increased demand from downstream industries such as biodiesel, poultry, oleochemicals, and pet food is driving the growth of the segment. On the other hand, the liquid segment is expected to show the fastest CAGR of 7.0% from 2021 to 2030. The fact that oils are mainly used for cooking and in biodiesel, where the liquid form is preferred over the solid increases the growth of the segment. .
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Europe, followed by North America, will dominate by the end of 2030-
Based on region, Europe, followed by North America, accounted for the maximum revenue share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is expected to retain its dominant share of ‘by 2030. Tallow fatty acid is widely used in the rubber and plastics industries due to its ability to provide stabilizing, lubricating and gelling properties. This fact is driving the demand for tallow fatty acids in the province. However, Asia-Pacific is estimated to exhibit the largest CAGR of 8.7% during the forecast period. Personal care and cosmetics manufacturers use tallow-based stearic acids in products such as foundation, face powder, and eyeliner. This factor leads to the growth of the market in this region.
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