The animal fats market in Canada is projected to decline steadily from 2024 to 2028. In 2023, the market stood at 337.3 thousand metric tons. The forecasted data shows a reduction to 329.48 thousand metric tons in 2024, 321.57 thousand metric tons in 2025, 313.81 thousand metric tons in 2026, 306.2 thousand metric tons in 2027, and 298.75 thousand metric tons in 2028.
Year-on-year variation reveals a consistent downward trend. From 2024 to 2025, there is a 2.4% decline. The decrease continues with a 2.4% drop from 2025 to 2026, 2.4% from 2026 to 2027, and 2.4% from 2027 to 2028. The Compound Annual Growth Rate (CAGR) over the five-year period is approximately -2.4%.
Future trends to watch for include the impact of health-conscious consumer shifts towards plant-based alternatives, regulatory changes impacting animal fat production, and technological advancements in fat substitutes. Monitoring these factors will be critical for understanding the market dynamics in the coming years.
