The tallow market is anticipated to grow from US$ 7.65 billion in 2023 to US$ 11.41 billion by 2031, reflecting a compound annual growth rate (CAGR) of 5.1% during this period.

Tallow finds applications across a range of industries, including food and beverages, personal care, home care, biofuels, lubrication, and animal feed, due to its diverse advantages. In the food and beverage sector, tallow is utilized in various cooking methods such as shallow frying, deep frying, grilling, poaching, and baking. When compared to vegetable oils like canola, sunflower, soybean, and peanut oils, tallow has emerged as a preferred frying medium. It boasts a higher smoke point than its vegetable counterparts, maintaining stability at elevated temperatures while imparting a more appealing flavor and crisp texture to fried foods. Furthermore, beef tallow contains a balanced mix of saturated and unsaturated fats, making it a healthier alternative to oils that are high in trans fats. Consequently, tallow plays a significant role in food and beverage applications.

In addition to culinary uses, tallow is a key ingredient in the manufacture of soaps, candles, and skincare products. Its moisturizing properties make it a favored component in skincare formulations, while its ability to produce a stable lather enhances soap quality. The moisturizing and emollient characteristics of beef tallow have attracted interest from both the pharmaceutical and cosmetic sectors. Moreover, tallow is extensively utilized in animal feed and pet food due to its rich nutritional profile, which includes essential vitamins such as A, D, K, and E, as well as conjugated linoleic acid (CLA) known for its anti-inflammatory benefits, oleic acid (omega-9), and palmitic acid. In the animal feed industry, tallow is predominantly used in feeds for poultry and pork.

The tallow market is categorized by end-use industries, which include food and beverages, personal care and cosmetics, lubricants, biofuels, animal nutrition, and others. In 2023, the biofuel segment accounted for a significant portion of the market. Tallow is increasingly recognized as a renewable feedstock for fuel producers due to its abundant supply, high cetane number, and cost-effectiveness. With a smoke point of approximately 420 degrees Fahrenheit (215 degrees Celsius), it is well-suited for creating biofuels that burn slowly and last longer. Additionally, its sustainable and biodegradable nature makes it an ideal candidate for biofuel production, serving as a substitute for conventional fossil fuels worldwide. These attributes are driving the rising demand for tallow in the fuel sector.

Several key players are active in the tallow market, including Cargill Inc, Dalian Daping Oil Chemicals Co. Ltd, ECSA Chemicals SA, Minerva SA, NH Foods Australia Pty Ltd, Craig Mostyn Group, Tassie Tallow, Leo Group Ltd, Maine Tallow Company, and Pridham Pty Ltd, among others. These companies are committed to delivering innovative and health-conscious products at competitive prices to meet consumer needs.

The overall size of the tallow market has been determined through a combination of primary and secondary research methods. The research process commenced with extensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data relevant to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the tallow market.