Based on the data provided for the forecasted years of 2024 to 2028, there is a steady decline in the production of animal fats in Canada. Here are the values (in thousand metric tons): 2024: 494.19, 2025: 487.59, 2026: 481.12, 2027: 474.79, 2028: 468.58.
Year-on-Year Variations:
- 2024-2025: -1.33%
- 2025-2026: -1.33%
- 2026-2027: -1.32%
- 2027-2028: -1.31%
Compound Annual Growth Rate (CAGR) for the period of 2024-2028: -1.32%
Future trends to watch for include changes in consumer preferences towards plant-based fats, regulatory adjustments related to health and dietary guidelines, and potential innovations in animal farming practices that might impact production efficiency.
