The analysis of the Animal Fats market size volume in Italy shows a consistent decline from 2014 to 2023. In 2023, the market stood at 297.0 thousand metric tons. Over the last two years (2022-2023), the year-on-year variation was -0.67%, reflecting a continued downward trend. The compound annual growth rate (CAGR) for the last five years (2019-2023) was -0.85%, indicating a gradual decrease in market volume each year.
From 2014 to 2019, significant annual reductions were observed, with the highest decrease in 2016 at -5.29%. However, this decline slowed in subsequent years, leading to more moderate decreases, averaging around -1% yearly. Notably, the historical CAGR from 2014 and earlier data shows stronger negative growth rates compared to recent years.
Future trends indicate a persistent downward movement, with a forecasted 5-year CAGR of -0.83% from 2024 to 2028, ultimately resulting in a forecasted value of 282.0 thousand metric tons by 2028, amounting to an approximate decrease of 4.08% over the five years.
Looking ahead, key trends to watch include shifts towards plant-based fats due to health and sustainability concerns, innovations in alternative fats and oils, and regulatory changes impacting animal fat production and consumption.
