Beef, sheep or goat fat market in Northern America

Earlier Report Observations

From 2018 to 2020, the production of beef, sheep, and goat fat in Northern America grew steadily from 4.8 million tonnes to nearly 5.0 million tonnes, while the domestic market volume expanded by about 144,000 tonnes. This upward trend continued into 2021, when market volume reached 4.88 million tonnes, supported by rising demand from the food & beverage and animal feed industries.

Production peaked at 5.10 million tonnes in 2022, even as the domestic market volume slightly contracted due to increased exports. Industry investment and consolidation, highlighted by Cargill's major acquisition in animal nutrition, signaled a maturing market structure. By 2023, the use of bovine fats like tallow in biodiesel production provided a new source of industrial demand, helping to sustain high production levels above 5.0 million tonnes despite some market volatility.

Looking at the full period through 2024, the market dynamics were further shaped by stable import trends in key regional markets like Mexico and the overarching growth in demand for animal-based food products and biofuel feedstocks, which continued to influence the sector's fundamentals.

Production beef, sheep or goat fat in Northern America

In kind, 2017-2020, K t

Top producers of beef, sheep or goat fat, 2017-2020

World map of production of beef, sheep or goat fat, 2017-2020

Beef, sheep, and goat fat production in Northern America increased for the second consecutive year. In 2020, production reached 4 993 K t, marking a 1.7% rise from the previous year. The lowest production level was recorded in 2018 at 4 796 K t, which also saw the largest decline of 4.9%. The most significant increase occurred in 2019, with a 2.4% growth.

Annual dynamics of production in Northern America in kind, 2017-2020, K t

In value, 2017-2020, M $ US

After two years of decline, beef, sheep, and goat fat production in Northern America rebounded. In 2020, the output was valued at 4 021 M $ US, showing a solid 14.7% increase compared to the previous year. From 2017 to 2020, production grew by 3%, averaging an annualized rate of 1.0%. The lowest value was recorded in 2019 at 3 505 M $ US, while the largest decline of 7.9% occurred in 2018.

Annual dynamics of production in Northern America in value, 2017-2020, M $ US

Exports beef, sheep or goat fat from Northern America

Exports in kind, K t

Beef, sheep, and goat fat exports from Northern America rose for the third consecutive year. In 2020, export volume reached 224.7 K t, reflecting a modest 4.8% increase from the prior year. Over the period from 2017 to 2020, exports surged by 62.6%, with a compound annual growth rate (CAGR) of 17.6%.

Annual dynamics of product's exports from Northern America in kind, 2017-2020, K t

From 2017 to 2020, the three largest markets for exports in kind were Singapore, Japan, and South Korea, collectively accounting for 19.6% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Northern America in kind, 2017-2020

Exports in value, M $ US

Cross-border shipments of beef, sheep, and goat fat from Northern America increased for the third year in a row. In 2020, exports totaled 181.0 M $ US, representing a significant 18.2% year-over-year gain. Between 2017 and 2020, exports grew by 69.1%, with a CAGR of 19.1%.

Annual dynamics of product's exports from Northern America in value, 2017-2020, M $ US

From 2017 to 2020, the principal buyers of beef, sheep, and goat fat from Northern America in value terms were Singapore (9.8% of exports), Japan (7.6% of exports), and Guatemala (0.6% of exports), together making up 18.0% of total exports.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Northern America in value, 2017-2020

Imports beef, sheep or goat fat to Northern America

Imports in kind, K t

In 2020, cross-border shipments of beef, sheep, and goat fat to Northern America reached 47.9 K t, up by 49.5% from the previous year. Between 2017 and 2020, imports increased by 75.6%, averaging an annualized rate of 20.7%. The largest decline was recorded in 2019 at 11.8%.

Annual dynamics of product's imports to Northern America in kind, 2017-2020, K t

From 2017 to 2020, New Zealand accounted for the main share of imports in kind of beef, sheep, and goat fat to Northern America, representing 0.7% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Northern America in kind, 2017-2020

Imports in value, M $ US

Northern America imported 38.9 M $ US of beef, sheep, and goat fat in 2020, equivalent to a sharp 65.4% increase compared to 2019. Between 2017 and 2020, imports rose by 74.3%, with an annualized rate of 20.3%. The largest decline occurred in 2019 at 18.4%.

Annual dynamics of product's imports to Northern America in value, 2017-2020, M $ US

From 2017 to 2020, New Zealand played the leading role in imports in value terms of beef, sheep, and goat fat to Northern America, holding a 1.3% share of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Northern America in value, 2017-2020