Rendering is a process of converting fatty tissues, bones, offal or an entire carcasses of animals into purified fats, for instance, lard or tallow. The most common animal sources of rendering products are beef, pork, sheep, and poultry. Rendered products are used in various industries such as fertilizers, cosmetics, bio-fuel, animal feed, food industry, and others. Rendered fats are major source of proteins, amino acids, vitamins, and essential minerals in livestock feeding. Moreover, it adds vital elements in fertilizers for plant growth.
Rendering process is a best method for animal disposal, which converts waste animal parts into stable, and value added materials. Application of rendered products in various industries such as cosmetics, fertilizers, animal feed, biofuel, food industry and others is driving the market growth of rendered products. Moreover, increasing focus on providing healthy feed to livestock is adding fuel to the growth of rendered products market.
Furthermore, government focus on clean energy and high demand for biofuel consumption boost the rendered products market. However, raw materials in rendering process are susceptible to spoilage, which may restrain the growth of the rendered products. Nevertheless, all these factors projected to contribute to the estimated CAGR of 2.7% of rendered products during the forecast period 2017-2023.
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Major Key Players:
The major key players in the rendered products
Tyson Foods Inc. (U.S.)
JBS USA Holdings Inc. (U.S.)
Valley Proteins Inc (U.S.)
National Renderers Association. (U.S.)
West Coast Reduction Ltd. (Canada)
Smithfield Foods Inc. (U.S.)
Growing focus on R&D is increasing the application of animal by-products in various industries. Moreover, government regulations supporting clean energy have opened the doors for the new entrants in this industry, which may hamper the growth of existing players in the market. However, rendered products market will project an overall growth in the forecast period.
On the basis of sources, rendered products are segmented as beef, pork, sheep, poultry, and others. Among all, the beef segment is projected to be dominate the market owing to its beneficial attributes and applications in various industries including animal feed, cosmetics, biofuel, and others.
Based on the categories, rendered products are segmented as food grade, feed grade, and industrial grade. Among all, the feed grade is dominating the market. However, increasing focus on R&D likely to help in the growth of industrial grade segment in the coming years.
On the basis of application, the animal feed industry is witnessing dominance over other industries. However, fertilizer segment has been observing a steady growth from the last few years.
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The global rendered products is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). North America is projected to dominate the market followed by Europe. In North America, the U.S. is the major contributor to the rendered products market.
Furthermore, rising number of meat industries is examining a moderate growth in Asia Pacific. Also, leading livestock and meat processing countries like Argentina, Australia, Brazil, Uruguay, and New Zealand are expected to achieve a steady growth in the forecast period. All these factors expected to contribute to the estimated CAGR of 2.7% of rendered products during the forecast period 2017-2023.
Rendered products is segmented on the basis of source, category, application and region