In 2023, the United Kingdom's animal fats market size was recorded at 309.0 thousand metric tons. The forecast data for 2024 through 2028 reveals a consistent decline in market size from 307.0 to 299.0 thousand metric tons. The year-on-year variation highlights a negative trend, with a decrement of approximately 0.65% per year in the last two years. The Compound Annual Growth Rate (CAGR) over the five-year forecast period indicates an average annual reduction of roughly 0.78%.
Future trends to watch for in the animal fats market include:
- Increasing consumer preference towards plant-based alternatives
- Impact of regulatory changes on animal fat production and usage
- Technological advancements in alternative fat production
- Market responses to sustainability and environmental concerns
