The raw animal fats market in Angola maintained a relatively stable volume from 2014 to 2019, predominantly at 8.0 Thousand Metric Tons, except for a slight increase to 9.0 in 2017. However, a noticeable dip occurred in 2020, dropping to 6.64, but the market quickly rebounded to 8.0 in 2021 and sustained this volume through 2023.
Based on these values, the year-on-year variations highlight a significant decrease of 17% in 2020 followed by a recovery of approximately 20.5% in 2021. The overall compound annual growth rate (CAGR) over the last five years was -2.33%, indicating a slight long-term decline despite some short-term fluctuations.
Forecast data from 2024 onward suggest a marginal decline in market size, reaching around 7.96 Thousand Metric Tons by 2028, with a 5-year forecasted CAGR of -0.08%. This signifies a very minimal average annual decrease.
Future trends to watch for include potential shifts in consumer preferences, advancements in alternative fats and oils, and changes in agricultural practices that could influence market dynamics. Additionally, economic factors and policy regulations in Angola may further impact market volume.
