NEWARK, Del, April 10, 2023 (GLOBE NEWSWIRE) -- The global rendered poultry products market is expected to be worth US$ 6,919 million in 2023. By 2033, the sales of rendered poultry products are anticipated to reach US$ 9,530 million, recording a CAGR of 3.25% during the forecast period.
The growing demand for rendered poultry products is primarily driven by the increasing demand for high-quality animal feed and pet food ingredients. As the industry seeks to improve the nutritional quality of feed and reduce production costs. Furthermore, the increasing demand for sustainable and eco-friendly products has driven the adoption of rendering technologies that reduce waste and increase efficiency.
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Despite the growth opportunities, the rendered poultry products industry is facing several challenges. One of the significant challenges is the stringent regulatory environment. This requires companies to comply with safety and quality standards, increasing their production costs. Furthermore, the increasing popularity of plant-based diets may lead to a decline in the demand for animal-based products, affecting the growth of the industry.
The rendered poultry products industry offers significant opportunities for growth and innovation. The increasing demand for sustainable and high-quality products has created a need for companies to invest in research and development to create new products that meet consumer needs. Furthermore, the growing pet food industry offers new avenues for growth, as the industry seeks to develop more nutritious and diverse products.
The rendered poultry products industry is rapidly evolving, with several new trends shaping the market. One of the most significant trends is the growing focus on sustainability, with companies investing in new technologies and processes to reduce their environmental impact. Another key trend is the increasing demand for plant-based and alternative protein products. The trend is driven by changing consumer preferences and growing awareness of the environmental impact of meat production.
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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.
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.
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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.
Key Segments
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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Table of Content
1. Executive Summary | Rendered Poultry Products Market
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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Poultry Seasoning Market Share: The market for Poultry Seasoning is estimated to grow at a CAGR of 3.6% during the forecasted period. The value of the industry is expected to rise from US$ 15,107.3 million in 2023 to US$ 21,517.1 million in 2033.
Poultry Feed Market Trends: The poultry feed market is expected to increase at a 5.4% CAGR from 2023 to 2033, from US$ 216.5 billion in 2023 to US$ 365.6 billion by 2033.
Poultry Feeder Market Demand: The global poultry feeder market was worth US$ 7.98 Billion in 2022. The market is anticipated to accelerate at a CAGR of 4.1% over the forecast period and is likely to reach from US$ 8.31 Billion in 2023 to US$ 12.42 Billion by 2033.
Fish Feed Market Growth: The fish feed market is estimated to account for about USD 112 billion in 2022 and is projected to reach a value of about USD 158.5 billion by 2032, at a CAGR of 8.0%.
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