The raw animal fats market in Canada showed a consistent constant trend from 2014 to 2023, remaining largely stable with only slight fluctuations. In 2021, there was a notable increase to 32.64 thousand metric tons, but it reverted to 32.0 thousand metric tons by 2022 and 2023. Year-on-year growth observed minimal variations, with a 3.23% increase in 2016 and a short-lived increase in 2021 by 2%. The compound annual growth rate (CAGR) from 2014 to 2023 remains negligible, indicative of a stable market.
Forecasts from 2024 to 2028 suggest a marginal growth trajectory with a projected 5-year CAGR of 0.1%, reaching 32.27 thousand metric tons by 2028, reflecting minimal but positive growth.
Future trends to watch include potential impacts of changing dietary preferences, sustainability practices, and alternative fat sources, which could influence market dynamics in the raw animal fats sector in Canada.
