The animal fats market in Argentina saw diverse trends from 2014 to 2023. Between 2014 and 2019, the market displayed modest fluctuations, experiencing a notable drop in 2020 by 16.02%, likely due to global disruptions. A sharp rebound occurred in 2021 with a 21.18% increase. Following this, the market steadied, showing slight annual increases, reaching 175 thousand metric tons in 2023. The compound annual growth rate (CAGR) over the past five years was 0.46%, reflecting a low but stable growth.
For the future, projected growth is modest with a forecasted CAGR of 0.52% from 2024 to 2028, resulting in an estimated market size of 180.92 thousand metric tons by 2028. This indicates steady, albeit slow, growth for the animal fats market in Argentina.
Future trends to watch for include the impact of global supply chain changes, evolving consumer preferences towards plant-based fats, and potential regulatory shifts influencing production and consumption patterns within the sector.
