Rendered Poultry Products Report By Key Companies, Regional Analysis And Forecast 2033

The Business Research Company recently released a comprehensive report on the Global Rendered Poultry Products Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, 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 growth in the historic period can be attributed to growing demand for animal proteins, expansion of the poultry industry, increasing use of rendered poultry products in animal feed, growing pet food industry, 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 growth in the forecast period can be attributed to regional market growth, growing interest in sustainable agriculture, global economic recovery, adoption of alternative protein sources, increased demand for high-quality proteins.. Major trends in the forecast period include rise in meat production, increased market size, market segmentation by type and grade, technological advancements, market competitor landscape, macroeconomic factors..

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Market Drivers and Trends:

The rise in meat production is expected to propel the growth of the rendered poultry products market going forward. Meat production is the process of growing, killing, and then processing animals through several phases for human consumption. It includes animal husbandry, slaughter, and meat processing. Rendered poultry products increase the use of poultry byproducts, reduce waste, and add value to the meat production process by combining beef, chicken, and pork with poultry byproducts. For instance, in April 2023, according to the Foreign Agricultural Service, a US-based government agency, global chicken meat production increased from 101.2 million tons in 2021 to 102 million tons in 2022. Additionally, global beef and veal production increased from 58.4 million tons in 2021 to 59.3 million tons in 2022. Furthermore, for instance, in 2021, according to the Food and Agriculture Organization, a US-based government agency, based on growing profitability, the world's meat production is anticipated to increase by 2030, reaching 373 million tons. Therefore, the rise in meat production is driving the growth of the rendered poultry products market.

Increasing investments in rendered poultry products is a key trend gaining popularity in the rendered poultry products market. Major companies operating in the rendered poultry products market are investing in rendered poultry products to sustain their position in the market. For instance, in April 2022, Tyson Foods Inc., a US-based company that manufactures rendered poultry products, invested $208 million in a rendering facility, the Hanceville rendering plant. This investment aids in increasing food output while using less energy and inputs, as well as providing a good, concentrated source of protein for animal feed and pet food. This rendering plant plays a significant role in Alabama's agricultural industry, providing poultry processing in neighboring states.

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Major Key Players of the Market:

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

Rendered Poultry Products Market 2024 Key Insights:

• 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 Influence Of Increasing Meat Production On The Growth Trajectory Of The Rendered Poultry Products Market
• Growing Trend Of Increased Investments In Rendered Poultry Products Market
• North America was the largest region in the rendered poultry products market in 2023

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