The raw animal fats market in Argentina stood at 149 thousand metric tons in 2023. Observing trends over the past decade, there has been noticeable fluctuation, with early significant growth between 2016 and 2018, achieving increases in volume of over 4% year-on-year. However, the market experienced volatility, with a drastic dip of almost 16% in 2020 followed by a strong rebound over the next three years.
Recent data indicates that the market has been stabilizing, with modest year-on-year growth rates of just over 1.3% from 2022 to 2023. This trend is expected to continue, as forecasts suggest an average annual growth rate (CAGR) of 1.14% over the next five years, amounting to an estimated market size of 160.24 thousand metric tons by 2028.
Future trends to watch for include:
- Technological advancements in the processing and extraction of animal fats
- Shifts in consumer preferences towards more sustainable and ethical food sources
- Regulatory changes impacting the production and trade of animal fats
The market's variability and response to global economic conditions will also be critical factors influencing future growth.
