USD 21.10 billion
Report ID: SQMIG30I2251 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 61 | Figures: 75
Rendered Products Market size was valued at USD 21.10 billion in 2021 and is poised to grow from USD 21.87 billion in 2022 to USD 29.03 billion by 2030, growing at a CAGR of 2.60% during the forecast period (2023-2030).
The global rendered products market refers to the industry that deals with the processing and utilization of animal by-products, such as fats, proteins, and minerals, derived from various sources including slaughterhouses, food processing plants, and farms. The global rendered products market has witnessed steady growth in recent years, driven by factors such as increasing demand for animal protein, growth in the pet food industry, and rising awareness about the sustainable utilization of animal by-products. However, the market also faces challenges, including strict regulations related to animal by-product handling and disposal, as well as concerns regarding the safety and quality of rendered products. To stay competitive, companies in the rendered products market focus on implementing advanced rendering technologies, ensuring product quality and safety, and exploring new applications for rendered products in diverse industries. Additionally, there is a growing emphasis on sustainable practices and the development of innovative rendering processes to minimize environmental impact.
US Rendered Products Market is poised to grow at a sustainable CAGR for the next forecast year
Global Market Size
USD 21.10 billion
Animal Rendered Products
Animal Rendered Products
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Global Rendered Products Market is segmented by type, application, and region. Based on type, the market can be segmented into animal rendered products, and vegetable rendered products. Based on application, the market is segmented into animal feed, food and beverage industry, and cosmetics and personal care. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Type
By type, the market can be segmented into animal rendered products and vegetable rendered products. Animal Rendered Products dominated the rendered products market. This segment includes a variety of products derived from animal sources, such as tallow, bone meal, meat meal, and poultry meal. Animal Rendered Products have been widely used in industries such as animal feed, food processing, and pet food.
The Vegetable Rendered Products segment is experiencing significant growth and is considered the fastest-growing segment in the rendered products market. This segment includes rendered products derived from vegetable sources, such as vegetable oil, vegetable protein meal, and biofuel feedstocks.
Analysis by Application
By application, the market can be segmented into animal feed, food and beverage industry, and cosmetics and personal care. The dominating segment in the rendered products market is Animal Feed. Rendered products such as meat and bone meal, poultry meal, and fish meal are widely used as ingredients in animal feed formulations. These products provide essential nutrients, including proteins, fats, and minerals, which are vital for the growth, health, and overall well-being of livestock, poultry, and pets.
The fastest-growing segment in the rendered products market is Cosmetics and Personal Care. Rendered products, such as glycerin, fatty acids, and oils, are used in a wide range of cosmetic and personal care products. These ingredients offer moisturizing, emollient, and nourishing properties, making them valuable components in skincare, haircare, and other personal care formulations.
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North America dominated the global rendered products market. The region has a well-established and technologically advanced rendering industry. The dominance of North America can be attributed to several factors. Firstly, the region has a significant livestock and meat processing industry, generating a substantial amount of animal by-products that can be rendered. This consistent supply of raw materials provides a competitive advantage to the region.
Asia Pacific is emerging as the fastest growing region in the global rendered products market. The region's rapid economic development, increasing population, and changing dietary patterns have led to a surge in demand for meat and animal-based products. Consequently, there is a growing need for efficient utilization of animal by-products, driving the rendered products market in Asia Pacific.
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Increasing awareness and adoption of sustainable practices
Stringent regulations and standards surrounding the handling and processing of animal by-products
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The global rendered products market comprises a diverse range of companies, including both large multinational corporations and smaller regional players. These companies compete based on factors such as product quality, pricing strategies, technological advancements in rendering processes, and the ability to meet specific customer requirements. Additionally, companies focus on research and development activities to explore new applications of rendered products and improve their efficiency. Marketing and distribution strategies also play a crucial role in gaining a competitive edge in this market.
Top Player’s Company Profiles
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global rendered products market analysis, the market plays a vital role in the utilization of animal by-products, contributing to the circular economy and minimizing waste. North America stands as a dominating region due to its well-established rendering industry, significant livestock sector, and stringent regulations. Meanwhile, Asia Pacific emerges as the fastest growing region, driven by economic development, population growth, and increasing demand for meat and pet food. The market is influenced by trends such as the adoption of sustainable practices and the exploration of plant-based alternatives. While facing challenges related to regulations, companies focus on technological advancements and meeting consumer preferences for eco-friendly and ethically sourced products.
|Market size value in 2021||USD 21.10 billion|
|Market size value in 2030||USD 29.03 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Rendered Products Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Rendered Products Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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