In 2024, the vegetable oil and animal fats sector in Brazil is forecasted to have a turnover of 193.75 billion Brazilian Reals, progressing steadily to 220.44 billion by 2028. Between 2024 and 2028, the turnover is expected to grow annually by approximately 3%, indicative of consistent sectoral growth.
In 2023, turnover in this sector stood at around 187.25 billion Brazilian Reals based on earlier data. From 2023 to 2024, there's a projected increase of approximately 3.5%. Over the five years from 2024 to 2028, the compound annual growth rate (CAGR) is forecasted to be about 3.3%.
Future trends to watch for include:
- Potential impact of global supply chain changes on raw material availability.
- Consumer demand shifts towards healthier and sustainable options.
- Impact of government policies on agricultural productivity and trade.
- Technological advancements and their adoption within the sector.
