The Raw Animal Fats market in India has exhibited a steady to slightly declining trend over the past decade, with the volume standing at 40 Thousand Metric Tons in 2023. The year-on-year variation remained at 0% over the last two years, with a slight decline reflected in the last five years' CAGR of -0.49%. Looking forward, the forecast through 2028 suggests a continuous gradual decline in market volume, with a forecasted CAGR of -0.51% and a 2.5% decrease over the next five years.
Future trends to watch for:
- Increasing adoption of plant-based fats and alternative proteins, driven by health and environmental concerns.
- Policy changes and regulatory impacts on animal farming and by-products utilization.
- Technological advancements and innovation in food and feed industries integrating more sustainable fat sources.
- Shifts in consumer preferences towards vegan and vegetarian diets impacting demand dynamics.
