The raw animal fats market in South Africa has shown significant variations over the years. Between 2014 and 2023, the market size volume experienced steady growth from 6.0 thousand metric tons to 10.0 thousand metric tons. Noteworthy fluctuations include a high year-on-year increase of 33.33% in 2017 and a decline of 17% in 2020. The market size for 2023 remained stable at 10.0 thousand metric tons, with a five-year CAGR of 2.13%.
Looking forward, the forecasted figures indicate a gradual growth trend, with projections reaching 11.33 thousand metric tons by 2028, representing a five-year CAGR of 1.94% and a total growth rate of 10.11% over the period.
Future trends to watch for include:
- Potential impact of climate change on livestock and raw animal fat production.
- Innovations in animal husbandry that could affect supply volumes.
- Changes in consumer preferences and regulatory shifts impacting market demand.
