The animal fats market in South Korea has experienced growth over the past decade, with fluctuations in volume growth. Notable year-on-year variations include a sharp increase in 2018 (13.16%) and a slight decline in 2019 (-1.94%). Recent years from 2021 to 2023 show modest growth with around a 1.5% increase annually. From 2023 onwards, forecast data suggest a consistent growth trend up to 2028, with an expected CAGR of 1.14%, resulting in a forecasted market size of 290,000 Metric Tons by 2028.
Future Trends: The market is expected to maintain steady growth driven by increasing demand in the food industry and potential applications in biofuels and industrial uses. Key drivers include advancements in processing technologies and shifts towards sustainable and value-added animal fat products.
