The market for animal fats used for non-food purposes in India is projected to decrease steadily from 110.0 thousand metric tons in 2024 to 99.0 thousand metric tons in 2028. This downward trend, which indicates a year-on-year decline, begins with a 2.73% decrease from 2024 to 2025. The compound annual growth rate (CAGR) reflects a declining trend at approximately -2.62% over the five-year period from 2024 to 2028.
Looking to the future, several trends warrant attention:
- Emerging preferences for plant-based or synthetic alternatives could further impact demand for animal fats in non-food industries.
- Advancements in technology might drive new applications or efficiencies, potentially influencing the scope of the market.
- Environmental regulations could also play a significant role in shaping market dynamics by increasing production costs or encouraging alternative materials.
