In 2023, the import value of animal and vegetable fats and oils, including cleavage products, stood at approximately 2.422 billion US dollars. The forecasted trend from 2024 to 2028 shows a consistent annual increase: 2.4448 billion USD in 2024, rising to 2.5308 billion USD by 2028. This represents a stable growth trajectory with a cumulative annual growth rate (CAGR) of roughly 0.8% over five years.
Key future trends to watch for include:
- Shifts in global agricultural production and supply chain changes impacting prices and availability.
- Trends in consumption patterns driven by dietary shifts or health trends.
- Environmental policies affecting production and importation of these goods.