The Animal Fats Market in the United Arab Emirates has experienced significant fluctuations over the past decade. Starting in 2014 with a volume of 47.0 thousand metric tons, the market peaked at 66.0 thousand metric tons in 2016, followed by a sharp decline in 2018 to 40.0 thousand metric tons. The volume stabilized around 46-48 thousand metric tons from 2021 to 2023. As of 2023, the market volume stood at 46.0 thousand metric tons.
Between 2014 and 2016, the market saw strong growth, but this was followed by significant volatility, including a notable 38.46% drop in 2018. The market showed recovery signs in 2019 but faced another decline due to the pandemic in 2020. From 2021 onwards, the market has been relatively stable but is forecasted to gradually decline to 44.01 thousand metric tons by 2028, indicating a slight negative growth outlook with a forecast 5-year CAGR of -0.68%.
Future trends to watch for include shifts in consumer preferences, potential regulatory changes, and developments in sustainable and alternative fats. Keeping an eye on global supply chain dynamics and the impact of new technologies will also be crucial for understanding the market's trajectory.
