Press release
Rendered Products Market Analysis, Development, Revenue, Future Growth and Forecast to 2027
COVID-19: Shutdown of Slaughterhouses May Obstruct Production of Raw Materials
The emergence of the COVID-19 pandemic has compelled people to shut down the rendered products industry worldwide. The shortages of raw materials & workforces, as well as lockdown measures in various countries, are taking a huge toll on this industry. Also, the production of raw materials has decreased because of the temporary shutdown of slaughterhouses. Our detailed research reports will help you better understand the current condition of the market.
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List of the Leading Companies Profiled in the Global Rendered Products Market are:
• JBS S.A. (São Paulo, Brazil)
• Tyson Foods Inc. (Arkansas, U.S.)
• Darling Ingredients Inc. (Texas, United States)
• West Coast Reduction Inc. (Canada)
• Valley Proteins Inc., (Winchester, Virginia)
• Sanimax (Montréal, Canada)
• Allanasons Pvt. Ltd. (Mumbai, India)
• Leo Group Ltd. (Halifax, England)
• Nordfeed (Izmir, Turkey)
• SRC Companies Inc., (California, United States)
What Does This Report Contain?
• Extensive details about the segments in the market.
• Historical, current, and predicted sizes of the market.
• Profiles of renowned companies and their vital strategies.
• An elaborate analysis of the growth drivers, dynamics, challenges, and obstacles.
Drivers & Restraints-
Evolution of Meat & Fish Processing Industry to Bolster Growth
The rising adoption of numerous animal by-products in pet food, animal feed, and food applications across the globe is set to be the most crucial factor that would augment the rendered products market growth in the near future. The evolution of the fish and meat processing industry is resulting in the rapid expansion of livestock production by farmers. They are trying to cater to the growing demand from consumers. However, several regulatory bodies worldwide are imposing stringent laws regarding the usage of rendered products. Complications in approval of transportation are also anticipated to decline growth.
Regional Analysis-
Increasing Population to Surge Demand for Rendered Products in Asia Pacific
Regionally, in 2019, North America procured USD 10.44 billion in terms of revenue in the market for rendered products. It is set to dominate throughout the forthcoming years stoked by the increasing demand for premium-quality animal feed for maximizing the potential of ranch animals. Asia Pacific, on the other hand, is likely to grow steadily on account of the development of the food animal sector, evolution of economies, and rising population in the region.
Segment-
Feed Grade Segment to Grow Rapidly Fueled by High Demand for High-value Products
Based on grade, the food-grade segment earned 18.66% in terms of rendered products market share in 2019. The feed grade segment is set to secure a larger share owing to the increasing sales of specialty pet foods, as well as the surging demand for high-value animal feed.
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Competitive Landscape-
Key Companies Focus on Establishing Strong Distribution Network to Intensify Competition
The market for rendered products is consolidated in nature because of the presence of a large number of manufacturers. They are mainly focusing on establishing strong distribution networks, enhancing existing product offerings, and creating robust brand loyalty.
Below are the two latest industry developments:
August 2020: Mavitec unveiled its latest innovative technology called Near InfraRed Spectrometer (NIRS). It can provide reliable, easy, and quick quality control for end-products and tallow.
January 2020: Friboi, owned by JBS SA, invested approximately USD 17 million to acquire and construct a new factory in the state of Mato Grosso, Brazil. The factory has the capacity to process 500 animals daily.
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