The forecasted demand for animal fats in Canada shows a gradual decline over the next five years:
- 2024: 486.35 Thousand Metric Tons
- 2025: 480.33 Thousand Metric Tons (-1.24% YoY)
- 2026: 474.43 Thousand Metric Tons (-1.23% YoY)
- 2027: 468.65 Thousand Metric Tons (-1.22% YoY)
- 2028: 462.98 Thousand Metric Tons (-1.21% YoY)
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is approximately -1.22%, indicating a consistent annual decrease in demand.
The decline in animal fats demand suggests shifting consumer preferences towards alternative fat sources, driven by health trends and environmental concerns. Monitoring advancements in plant-based and synthetic fats, as well as regulatory changes, will be crucial for future forecasts.
