The forecasted market size volume for raw animal fats in the Philippines shows a steady increase from 2024 to 2028. In 2023, the market stood at an actual volume of approximately 391.50 thousand metric tons. From 2024 onwards, we see a consistent year-on-year growth rate of about 1.3% to 1.4%, reflecting a stable upward trend. The compound annual growth rate (CAGR) over the five-year forecast period from 2024 to 2028 is expected to be around 1.4% annually.
Future trends to watch for include potential impacts from global supply chain fluctuations, changes in domestic agricultural policies, and evolving dietary preferences towards plant-based alternatives which could influence the demand dynamics in this sector.
