Raw fondant: 2 years in the pantry. Ages in the freezer. Never in direct sunlight.
On a cake: 3-5 days in the fridge. 24 hours at room temp before it starts to "sweat" or crack.
If you need to prep a cake for a big event, make the fondant decorations months ahead. They don’t care about time.
One last quirky detail: Fondant is technically "non-perishable" in the same way honey is. It can crystallize or dry out, but it rarely goes truly "bad."
So go ahead. Buy that huge block of fondant. Let it sit in your cupboard for a year. It’s waiting for you—patient, sweet, and absurdly long-lasting.
Just don’t expect it to taste like a marshmallow.