From 2014 to 2023, the volume of animal fats feed in India has shown fluctuating yet overall positive growth. In 2023, the volume reached 30.0 thousand metric tons, showing a moderate increase of 3.45% year-on-year. Notable variations were observed: a dramatic drop of 69.23% in 2015 and a significant spike of 500% in 2016. The average yearly growth (CAGR) over the last 5 years has been 3.71%.
Looking ahead, the forecasted data from 2024 to 2028 suggests a continued upward trend, albeit at a slower pace. The projected growth rate for this period is 12.9%, corresponding to an average yearly increase (CAGR) of 2.46%.
Future Trends to Watch For:
- Emerging Technologies: Advancements in feed technology may enhance the efficiency of animal fats feed.
- Regulatory Changes: New regulations on animal feed ingredients could impact production and consumption patterns.
- Market Demand: Shifts in consumer preferences for protein and meat products could drive changes in demand for animal fats feed.
