The sales of lard, inedible tallow, and greases in the United States were recorded at approximately 1.8 billion US dollars in 2023. Forecasted data suggests a gradual annual decline from 2024 through 2028. The sales value is expected to slightly reduce each year, demonstrating a consistent downward trend. This results in a cumulative reduction of the market size when considering a compounded annual growth rate over these five years. Such a declining trend highlights a diminishing demand or possible market saturation.
Future trends to watch for:
- Shifts in consumer preferences toward plant-based alternatives or health-conscious products.
- Increased regulation regarding animal-based products due to environmental concerns.
- Potential technological advancements or innovations in product usage or recycling.