PUBLISHER: Grand View Research | PRODUCT CODE: 1751635
PUBLISHER: Grand View Research | PRODUCT CODE: 1751635
The global tallow market is anticipated to reach USD 13.61 billion by 2030 and is anticipated to expand at a CAGR of 7.3% during the forecast period, according to a new report by Grand View Research, Inc. The growing inclusion of tallow in cooking applications, rising adoption by diverse application industries, and novel products such as biofuels formulated with tallow are expected to drive growth.
A significant increase in application areas will develop lucrative opportunities for this market. Tallow in multiple product formulations, including animal feed, cosmetic products, and others, has generated a growing demand for tallow in various regions. Multiple food processing businesses, such as fast-food restaurants, increasingly prefer using oils as an alternative. The growth experienced by the meat and meat processing industry also contributes to the development.
Tallow is a byproduct of the meat and meat processing industry. It is a hard fat sourced from the fatty tissues of animals such as cattle and sheep, and it is significant in traditional cooking. Growing utilization in the formulation of products such as soaps, skincare products, candles, and others is expected to drive demand for tallow over the forecast period. Uninterrupted availability of tallow and increasing meat consumption are projected to fuel growth.