Based on the given data, the demand for raw animal fats in South Africa shows a steady increase from 21.61 thousand metric tons in 2024 to 23.53 thousand metric tons in 2028. Below are the year-on-year variations:
- 2024-2025: (22.11 - 21.61) / 21.61 * 100 ≈ 2.31%
- 2025-2026: (22.59 - 22.11) / 22.11 * 100 ≈ 2.17%
- 2026-2027: (23.07 - 22.59) / 22.59 * 100 ≈ 2.12%
- 2027-2028: (23.53 - 23.07) / 23.07 * 100 ≈ 2.00%
The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is calculated as follows:
CAGR = ((23.53 / 21.61)^(1/4) - 1) * 100 ≈ 2.12%
Future Trends to Watch
Future trends to watch for in the raw animal fats market in South Africa include potential shifts in consumer preferences towards plant-based fats, regulatory changes affecting animal product industries, and advancements in processing technologies that could impact supply and demand dynamics. Additionally, global economic factors and export-import policies will play a significant role in shaping the market over the forecast period.
