Rendered Poultry Products Market Size, Share, Emerging Trends, Future Demands, Revenue and Forecast by 2030, Fortune Business Insights
The global rendered poultry products market size was valued at USD 6.74 billion in 2022 and USD 6.92 billion in 2023. The market is expected to reach USD 8.65 billion by 2030 with a CAGR of 3.24% during the forecast period. The growing utilization of animal byproducts in various applications such as food and feedstock and rising concerns over environmental sustainability further boost the global market size. The emerging use of rendered poultry in the food and feed industry is set to propel market growth. Fortune Business Insights™ shares this information in its report titled “Rendered Poultry Products Market, 2023-2030.”
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Poultry Fat to Dictate as it has Many Nutrients
On the basis of type, the market is divided into poultry fat, grease, protein meal, and others. The poultry fat segment is anticipated to dominate as it is the richest source of linoleic acid and other nutrients such as vitamin E and choline. It is largely used as a flavoring agent in chicken broth, spreads, and dressings for salads and others.
Feed Grade to Lead the Segment as it is an Essential Ingredient in Pet and Aqua Food
Based on grade, the market is divided into food grade, feed grade, and industrial grade. The feed grade segment is expected to have a major part as it is one of the essential ingredients in pet food and aqua feed.
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.
Drivers and Restraints
Increasing Uses of Rendered Poultry in Food and Feed Industries to Drive Market Expansion
Increasing use of rendered poultry in the food and feed industries is anticipated to drive the rendered poultry products market growth. For many years, the process of rendering has been used for recycling unwanted animal tissues into feed and fertilizers. Rendered products play a vital role in several applications such as in the production of pet food, jellies, jams, fertilizers, and pharmaceuticals. Rendering has been a classic and eco-friendly way to produce valuable protein and fats, which improves the nutritional status of the animal food used by farmers to feed their poultry, fish, and other ruminants.
However, strict rules and regulations for rendering are projected to obstruct market growth.
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North America to Lead Market Share Due to Increasing Demand for Superior Quality Animal Feed
North America is expected to head the rendered poultry products market share due to increasing demand for superior-quality animal feed for improving the potential of ranch animals. The region reached the valuation of USD 3.80 in 2022 due to escalating sales of rendered poultry products. In 2020, as per Phase One Economic and Trade Agreement, the U.S. and the Republic of China gave an approval for additional 24 U.S. rendering plants, which is set to enhance the production capacity of protein meals and other poultry fats.
Asia Pacific is one of the growing regions of the market due to substantial demand for poultry-meat products owing to easy availability and affordability. According to the National Poultry Newspaper, 2021, meat production globally is rising, with two-thirds originating from the Asia Pacific region.
Europe is set to have a noticeable growth due to increase in awareness about rendered animal fats and rising innovations in the development of value-added byproducts.
Strategies to Expand the Production Capacity to Advance Market Course
The major rendered poultry products players such as Tyson Foods Inc., Darling Ingredients Inc., JG Pears, and others, owing to rising utilization of such poultry byproducts in animal feed or biodiesel and growing concerns for environmental sustainability. In March 2021, Fuchs Petrolab SE unveiled a new polyurea lubricating grease factory at Kaiserslautern. The multi-year project can further help in expanding the production capacity of the company. Such new projects to increase the production capacity is projected to increase the production and surge the demand for the product amongst end-users.
List of Key Players Profiled in the Report
- Tyson Foods Inc. (U.S.)
- JG Pears (U.K.)
- Brazilian Renderers (Brazil)
- West Coast Reduction Ltd. (U.S.)
- The Leo Group (U.K.)
- The Tonnies Group (Germany)
- Allanasons Pvt. Ltd. (India)
- Akiolis Group (France)
- Darling Ingredients Inc. (U.S.)
- Nordfeed (Turkey)
Key Industry Development
- May 2022: Darling Ingredients Inc. completed its acquisition of 18 rendering plants of Valley Proteins Inc. as it has a successful rendering business, which will help in strengthening the business expansion and expanding its ability to provide additional low carbon intensity feedstock across the global market.
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