The global rendered poultry products market is projected to reach US$ 6,919 million by 2023 and is expected to grow to US$ 9,530 million by 2033, with a compound annual growth rate (CAGR) of 3.25% during the forecast period.
This growth is fueled by rising demand for high-quality ingredients in animal feed and pet food, driving the need for improved nutritional value and cost-effective production methods. Additionally, the industry’s focus on sustainability and eco-friendly practices has led to increased adoption of rendering technologies aimed at reducing waste and enhancing efficiency.
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Exploring Investment Opportunities and Unique Trends in the Rendered Poultry Products Industry
Investment opportunities abound in the rendered poultry products industry, spanning from technological innovations to infrastructure enhancements. As sustainability becomes a key focus in the food sector, investing in the production and distribution of rendered poultry products presents promising prospects for investors. Moreover, advancements in rendering technology offer avenues for creating novel products.
A noteworthy trend in this industry is the surging demand for organic and non-GMO offerings. Heightened consumer awareness regarding health and environmental concerns is driving this shift towards natural and organic products. Furthermore, rendered poultry products are finding increased utility in pharmaceuticals and nutraceuticals, opening doors for the development of innovative solutions.
Key Takeaways from the Rendered Poultry Products Market:
- By 2022, the United States held almost 30% of the global market for rendered poultry products.
- Germany accounted for around 15% of the global rendered poultry products market in 2022.
- China dominated the market with 35% of the global rendered poultry products industry in 2022.
- Japan held around 10% of the worldwide rendered poultry products market in 2022.
- The protein meal segment is the market leader, accounting for a 65% share in 2022.
- The feed grade segment dominates the market, accounting for 70% of total market revenue.
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How Key Players are Revolutionizing the Industry Landscape?
The rendered poultry products industry is highly competitive, with a range of players operating across different segments such as poultry fat, grease, protein meal, and others. The key players in the industry include Tyson Foods, Inc., Darling Ingredients Inc., Valley Proteins, Inc., JBS SA, and Baker Commodities Inc.
To stay at the top of the market, key players in the rendered poultry products industry are investing heavily in research and development, and expanding their product offerings to meet the changing needs of consumers. For instance, Tyson Foods has launched a range of high-protein snacks and pet food products made from rendered poultry. Similarly, Darling Ingredients has invested in advanced rendering technologies to improve efficiency and reduce waste.
However, the industry is facing several challenges, including increasing regulatory scrutiny, rising costs of production, and changing consumer preferences. These challenges have led to a wave of consolidation in the industry, with several smaller players being acquired by sizable companies.
Despite the challenges, the rendered poultry products industry offers significant opportunities for new entrants to enter the market. The growing demand for sustainable and eco-friendly products, coupled with the increasing popularity of pet food products, is creating new avenues for growth and innovation. Furthermore, advancements in rendering technologies are opening up new possibilities for product development and differentiation.
Recent Developments in the Market:
- Darling Ingredients Inc., a renowned animal food production company, reached a deal in November 2022 to buy Miropasz. The company processes around 25,000 metric tonnes of goods through three rendering factories in Southeast Poland.
- The state government of Kerala (India) tried to handle poultry waste by establishing chicken rendering facilities at Mattanur and Kannur in October 2022.
- Tyson Foods Inc. announced plans in April 2022 to build a new rendering factory in Alabama, to replace its existing River Valley Ingredients plant. The new factory, which will be located close to the Hanceville Cullman country site, is likely to be operational by the end of 2023.
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Market by Category
By Type:
- Poultry Fat
- Grease
- Protein Meal
- Others
By Grade:
- Food Grade
- Feed Grade
- Industrial Grade
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East and Africa
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