The raw animal fats market in Kenya has experienced a steady decline over the past decade, with a 2023 volume of 13.0 thousand metric tons, representing a year-on-year decrease of 7.14%. Historical data from 2014 to 2023 shows fluctuating performance, including significant drops in 2015 and 2016, a notable increase in 2018, and a gradual declining trend thereafter. The Compound Annual Growth Rate (CAGR) over the last five years stands at -2.82%, indicating a sustained downward trend.
Looking to the future, the market is projected to continue its decline, with forecasts suggesting a 5-year CAGR of -1.23% leading to a 6% overall reduction in volume by 2028. This trend highlights potential challenges for the industry.
Future trends to watch for:
- Potential impacts of economic or regulatory changes on production and consumption.
- Advancements in alternative fats and oils affecting demand for raw animal fats.
- Environmental and sustainability factors influencing industry practices and market trends.
- Shifts in consumer preferences and dietary habits potentially driving market adjustments.
