The raw animal fats market in Mexico has seen fluctuations over the past decade. From 2014 to 2020, the market experienced significant volatility, including a notable drop of 16.71% in 2020. However, the sector rebounded strongly in 2021 with a 21.33% increase. By 2023, the market volume stood at 289.0 thousand metric tons, reflecting a modest year-on-year growth of 0.7%. From 2019 to 2023, the Compound Annual Growth Rate (CAGR) averaged 0.14%, indicating slow but steady growth.
Moving forward, the market is forecasted to grow slightly, with a 5-year CAGR of 0.38%, reaching 295.9 thousand metric tons by 2028. This represents an overall growth rate of 1.93% over the forecast period.
Future trends to watch for:
- Potential impacts of regulatory changes on the animal fats industry.
- Shifts in consumer preferences towards plant-based alternatives.
- Technological advancements in fat processing and sustainability measures.
- Global economic conditions and their influence on export-import dynamics.
