Between 2014 and 2023, Malaysia's animal fats market experienced a series of fluctuations in volume, starting at 43.0 thousand metric tons in 2014 and stabilizing at 45.0 thousand metric tons in 2023. The market saw significant variations, including notable drops in 2016 and 2017, followed by a substantial increase in 2018. The most recent CAGR over the last 5 years stands at -0.44%, indicating a slight overall decline.
Future projections suggest a gradual uptick in the market, with a 5-year CAGR expected at 0.28%, translating to an overall growth rate of 1.42% by 2028. The volume is forecasted to rise to 45.86 thousand metric tons by 2028, indicating a slow but positive growth trajectory.
Future trends to watch for include shifting consumer preferences towards plant-based oils, regulatory changes impacting animal fat production and trade, and potential technological innovations in fat processing and utilization.
