In 2023, the animal fats feed industry in Canada stood at 61,000 metric tons, representing a 1.67% year-on-year growth from 2022. The market has shown significant fluctuations over the past decade, with a notable dip in 2015 followed by substantial growth that peaked in the subsequent years. The past five years exhibited a steady increase, with a compound annual growth rate (CAGR) of 2.09%.
Future trends to watch for include:
- The forecasted 5-year CAGR of 1.56% indicates continued moderate growth through 2028.
- Potential impacts from shifts in agricultural practices and sustainability measures.
- Regulatory changes and innovations in feed technology that could influence demand patterns.
