Rendered Products Market Overview:
Rendered products market size is projected to reach approximately USD 21.90 billion by 2027, at a CAGR of 2.4% from 2020 to 2027, the global market for rendered products would achieve substantial CAGR due to the growing demand from various sectors. Market Research Future (MRFR) identified several aspects like its high intake in the feed industry to improve the nutritional standard, growing used of it in the cosmetics industry where its impact on the texture is substantial, and in the lubricants industry, its inclusion is high to increase the durability of various pieces of machinery. The rising intake of the product as biofuel would also impact the market outcome in the coming years.
Segmentation:
The global rendered products market, in a discussion by MRFR analysts, has been segmented on the basis of sources, categories, and applications. These segments are enriched with insights that can help in better strategic decisions. The insights carry various arguments and figures that can bolster the idea of the market.
By source, the global Rendered Products Market Insights has been segmented on the basis of pork, poultry, sheep, beef, and others. The beef segment is showing huge prospects, and it is already the dominating market. Its use as animal feed is quite substantial and is getting huge traction from the cosmetics industry for the use of tallow that is necessary to add texture in soaps, creams, and other cosmetic products. Its use as lubricants in bio-fuel production is also creating an effective impact.
By category, the market for the rendered products has been segmented into feed grade, food-grade, and industrial grade. The food segment influences lesser traction as several reasons prohibit the mass-scale use of these products in the industry. However, the cosmetics segment is providing ample opportunity for the market to expand its operational capacity.
By application, the market for the rendered products has been segmented on the basis of biofuel, animal feed, cosmetics, food industry, fertilizers, and others. The animal feed segment is dominating the global market. A substantial portion of the by-products finds use in the animal feed segment to maintain the nutritional level. The application segment also has a substantial impact on the fertilizer segment.
Competitive Landscape:
The global market for rendered products is all set to benefit from the contributions made by companies like Valley Proteins Inc (U.S.), Tyson Foods Inc. (U.S.), JBS USA Holdings Inc. (U.S.), West Coast Reduction Ltd. (Canada), Smithfield Foods Inc. (U.S.), National Renderers Association (U.S.), SOLEVAL. (France), and others. These companies have made a significant impact on the market using various tactical tools like mergers, acquisitions, collaborations, and others that would help in increasing portfolio and spurring the expansion process. Among other methods, the hike in expenditure for research and development could help in launching innovations and increase market impact. MRFR made an effort to record all the latest data to understand how the market would proceed further.
Regional Analysis:
North America would lead the Rendered Products Market Outlook by generating a maximum share of the revenue. Europe would follow the lead. The huge meat industry in the North American region is expected to boost this prospect. It is further getting traction from the feed industry as the demand for better nutrition is rising. In the cosmetic industry, this growth is immense as the need for rendered products is high to maintain a substantial standard of texture. Huge companies from North America and Europe are expected to boost this demand. Asia Pacific market is also expected to boost the market outcome.
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