In 2023, the import of pig and poultry fat to the UK was at 6.9 million US Dollars. Forecasted data shows a yearly decrease in imports from 2024 to 2028. Specifically, imports are projected to decline by approximately 6% annually, from 6.54 million US Dollars in 2024 to 5.04 million US Dollars in 2028. Over this five-year period, the compound annual growth rate (CAGR) is approximately -6.2%, highlighting a consistent downward trend in importation value.
Future trends to watch for include:
- Potential shifts in dietary preferences towards alternative protein sources impacting demand for animal fats.
- Regulatory changes on imports post-Brexit and their effect on trade dynamics.
- Technological advancements in animal fat substitutes and their impact on market demand.