PUBLISHER: The Business Research Company | PRODUCT CODE: 1427995
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427995
Rendered poultry products are ingredients obtained through the rendering process, which involves boiling and processing chicken by-products to extract valuable components. These products find wide applications as feed ingredients for poultry, livestock, fishing, and other domestic animals.
The main types of rendered poultry products include poultry fat, grease, protein meal, and others. Poultry fat is the residual substance left after the standard rendering process removes moisture and solids. It serves as an energy source in animal and aquaculture feed. Rendered poultry products come in various grades, including food grade, feed grade, and industrial grade, catering to applications in the food industry, medical industry, and other sectors.
The rendered poultry products market research report is one of a series of new reports from The Business Research Company that provides rendered poultry products market statistics, including the rendered poultry products industry's global market size, regional shares, competitors with a rendered poultry products market share, detailed rendered poultry products market segments, market trends, and opportunities, and any further data you may need to thrive in the rendered poultry products industry. This rendered poultry products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The rendered poultry products market size has grown steadily in recent years. It will grow from $6.72 billion in 2023 to $6.95 billion in 2024 at a compound annual growth rate (CAGR) of 3.4%. The increase observed in the historical period can be attributed to factors such as the growing demand for animal proteins, the expansion of the poultry industry, the increasing use of rendered poultry products in animal feed, the growth of the pet food industry, and economic growth in developing countries.
The rendered poultry products market size is expected to see steady growth in the next few years. It will grow to $7.96 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The anticipated growth in the forecast period can be attributed to regional market expansion, a growing interest in sustainable agriculture practices, global economic recovery, increased adoption of alternative protein sources, and a rising demand for high-quality proteins. Noteworthy trends expected during the forecast period include a rise in meat production, an increased market size, market segmentation based on type and grade of rendered poultry products, technological advancements in the rendering industry, an evolving competitor landscape in the market, and the influence of macroeconomic factors.
The rendered poultry products market is anticipated to experience growth driven by the increase in meat production. Meat production involves the comprehensive process of nurturing, slaughtering, and processing animals for human consumption. The utilization of rendered poultry products in this context enhances the incorporation of poultry byproducts, minimizes waste, and adds value to the meat production cycle by combining poultry byproducts with beef, chicken, and pork. Recent data from the Foreign Agricultural Service indicated a rise in global chicken meat production from 101.2 million tons in 2021 to 102 million tons in 2022. Similarly, global beef and veal production increased from 58.4 million tons in 2021 to 59.3 million tons in 2022. Forecasts from the Food and Agriculture Organization suggest a global meat production increase to 373 million tons by 2030. This surge in meat production is a significant driver for the rendered poultry products market.
The growing demand for snack foods is poised to further propel the rendered poultry products market. Snack foods, categorized as ready-to-eat items consumed between regular meals, are witnessing increased popularity. Rendered poultry products contribute to the versatility and flavor enhancement of snack options, aligning with consumer preferences for diverse and flavorful snacking choices. According to a report from SNAC International, snacks accounted for 27% of total food and beverage sales in the United States, with salty snack sales reaching approximately $28.4 billion in 2022-a notable 15.6% growth compared to the previous year. This escalating demand for snack foods is a key factor driving the rendered poultry products market.
A prominent trend in the rendered poultry products market is the increasing investment in this sector by major companies to maintain market positions. For example, Tyson Foods Inc., a leading US-based company in rendered poultry products, invested $208 million in the Hanceville rendering plant in April 2022. This substantial investment aims to boost food production efficiency, reduce energy usage, and provide a concentrated protein source for animal feed and pet food. Such investments play a pivotal role in supporting the agricultural industry and poultry processing in specific regions.
Innovation in product offerings is a noteworthy strategy adopted by major companies in the rendered poultry products market. Companies are developing innovative products, such as organic chicken products, to cater to larger customer bases, drive sales, and increase revenue. Diana Food, a France-based provider of rendered poultry products, launched a range of organic poultry products in February 2021. This selection includes organic hen broth, hen bone broth, hen meat powder, and hen fat. The unique aspect lies in the sourcing approach, ensuring ethically raised chicken materials from local farmers. Additionally, the products boast non-allergenic characteristics, a clean label, and no additives such as monosodium glutamate (MSG) or added hormones.
In July 2022, Cargill and Continental Grain Company jointly acquired Sanderson Farms Inc., a US-based poultry producer, for an undisclosed amount. This acquisition led to the integration of Sanderson Farms with Wayne Farms, a Continental Grain subsidiary, forming a new privately-owned poultry enterprise.
Major companies operating in the rendered poultry products market report are Cargill Inc., JBS USA Holdings Inc., Tyson Foods Inc., Smithfield Foods Inc., Hormel Foods Corporation, Conagra Brands Inc., Seaboard Corporation, Pilgrim's Pride Corporation, Perdue Farms Inc., The Tonnies Group, Darling Ingredients Inc., Koch Foods Inc., Maple Leaf Foods Inc., Sanderson Farms Inc., Leo Group Ltd., Allanasons Pvt Ltd., Sanimax Industries Inc., Valley Proteins Inc., Haarslev Solutions, San Miguel Foods Inc., JG Pears, West Coast Reduction Ltd., Mavitec Group, Baker Commodities Inc., Keystone Foods LLC, FASA Group, Akiolis Group, Brazilian Renderers Association, Nordfeed
North America was the largest region in the rendered poultry products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the rendered poultry products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the rendered poultry products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The rendered poultry products market consists of sales of feather meal, meal from blood, seafood meal, by-product meal from chicken, and bone meal. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Rendered Poultry Products Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on rendered poultry products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for rendered poultry products ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The rendered poultry products market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.