From 2014 to 2023, the raw animal fats market in Australia exhibited a declining trend. The actual figures indicate a peak of 41.0 thousand metric tons in 2014, decreasing steadily to 35.0 thousand metric tons in 2023. Significant year-on-year variations include a 7.5% drop in 2017 and smaller decreases in subsequent years. The compound annual growth rate (CAGR) over the last five years was -0.56%, while the forecasted five-year CAGR from 2024 to 2028 is expected to be -1.17%, indicating a further decline to 33.0 thousand metric tons by 2028.

Future trends to watch for:

Further market contraction due to changing dietary preferences and increased focus on plant-based alternatives.
Potential regulatory impacts and trends towards sustainability in the animal agriculture industry.
Technological advancements in alternative fat sources and animal husbandry practices that could influence market dynamics.