In 2023, the import value of animal fats, oils, and their fractions not chemically modified into the US stood at an unrecorded base, setting the prelude for forecasted growth. From 2024 to 2028, the import values are forecasted to rise continuously, from approximately 36.983 million USD in 2024 to 42.183 million USD in 2028. This depicts a year-on-year growth trend of roughly 3% annually. Over this five-year period, the compound annual growth rate (CAGR) will average around this percentage, reflecting steady demand increases in the US market.
Future trends to watch for:
- Potential trade policy shifts impacting imports of animal products.
- Changes in consumer preferences towards alternative fats and oils.
- Supply chain disruptions or enhancements affecting market dynamics.
