The Animal Fats market in India increased from 168.0 Thousand Metric Tons in 2014 to 215.0 Thousand Metric Tons in 2023. The market showed varying trend patterns: significant growth was seen in 2015 with a year-on-year increase of 14.88%, followed by moderate annual growth generally fluctuating around 1-2%. The year 2022 saw a minimal growth rate of 0.95%. The Compound Annual Growth Rate (CAGR) from 2019 to 2023 averaged at 1.36%, indicating a steady but modest growth trajectory. The forecast points to a projected market size of 226.0 Thousand Metric Tons by 2028, with a forecasted five-year CAGR of 0.82% and a total growth rate of 4.15%.
Future trends to watch for include increased demand spurred by the food industry and potential shifts due to health trends and consumer preferences towards alternative fats. Market response to sustainability concerns could also impact both production and consumption patterns.
