In 2023, China's import volume of raw animal fats stood at approximately 196.9 thousand metric tons. From 2024 onwards, the forecast indicates a steady decline in import volumes, with a decrease of 2.15% from 192.76 thousand metric tons in 2024 to 176.72 thousand metric tons in 2028. This equates to a Compound Annual Growth Rate (CAGR) of roughly -2.17% over the forecasted period.
Future trends to watch for include:
- Potential policy changes in China impacting import volumes, focusing on promoting domestic production of substitutes.
- Shifts in consumer preferences towards plant-based alternatives, potentially affecting demand for animal fats.
- Impact of global trade dynamics, including tariffs and trade agreements, on import patterns.