The forecasted animal fats market size volume in the Philippines shows a consistent upward trend from 2024 to 2028. Based on the provided data, the market is expected to grow steadily each year, starting from 402.1 thousand metric tons in 2024 and reaching 421.7 thousand metric tons by 2028. The year-on-year percentage variation illustrates a modest but stable growth, averaging between 1.1% and 1.3% annually. The compound annual growth rate (CAGR) over the five-year forecasted period is around 1.2%.
Future trends to watch for include increasing demand for animal fats in various industries such as food production, pharmaceuticals, and cosmetics due to their versatile applications. Additionally, shifts in consumer preferences towards natural and organic ingredients may further boost the market demand for animal fats.
