The demand for animal fats in the US in 2023 stood at 4.63 million metric tons. From 2024 to 2028, the forecasted demand is projected to grow from 4.66 million metric tons to 4.81 million metric tons, demonstrating steady year-on-year increases.
Year-on-year percentage variations:
- 2024 to 2025: +0.86%
- 2025 to 2026: +0.85%
- 2026 to 2027: +0.63%
- 2027 to 2028: +0.84%
The compound annual growth rate (CAGR) from 2024 to 2028 shows an average annual increase of 0.8%.
Future trends to watch for:
- Shifts in consumer preferences towards plant-based alternatives which may impact demand for animal fats.
- Regulatory changes and their potential effects on production and usage of animal fats.
- Technological advancements in food processing that could either enhance or reduce the use of animal fats.
