The raw animal fats market in Ghana has shown stability from 2014 to 2017, maintaining a volume of 4.0 thousand metric tons. In 2018, the market experienced a notable increase to 5.0 thousand metric tons, representing a year-on-year growth of 25%. This higher volume persisted through 2019, but 2020 saw a dip to 4.15 thousand metric tons, a 17% year-on-year decline. Recovery followed in 2021, with the market volume returning to 5.0 thousand metric tons and staying consistent through 2022 and 2023. The forecast for 2024 sees a slight increase to 5.1 thousand metric tons, with gradual annual growth projected to 5.35 thousand metric tons by 2028, reflecting a forecasted 5-year CAGR of 0.98%.
Future trends to watch for include the potential impact of sustainable and alternative fats, changes in consumption patterns, and regulatory shifts that might affect production and imports. Monitoring these factors will be essential for accurate market predictions and strategic planning.
