The demand for animal fats in Nigeria is projected to experience a steady decline from 2024 through 2028. In 2023, the demand stood at 46.10 Thousand Metric Tons. Year-on-year variation shows an average annual decrease of roughly -1.77% between 2024 and 2028.
Key observations on future trends to watch for include:- A continued downward trajectory in animal fats demand, potentially due to rising health awareness and shifts towards plant-based alternatives.- Potential policy changes impacting livestock farming and animal fat processing that may further influence market demand.- Technological advancements in food processing and alternative fat sources which could further depress traditional animal fat consumption.