Rendered Products Industry Synopsis | COVID-19 Pandemic Impact, Market is expected to grow at a CAGR of 2.7% During Forecast Period 2020 to 2023

Market Synopsis

As per the analysis by Market Research Future (MRFR), the global rendered products market is estimated to expand at a CAGR of 2.7% while acquiring a notable market value during the review period from 2020-2023.

The growing adoption of various animal by-products in pet feed is anticipated to be a salient factor that is expected to boost the rendered products market 2020. The rapid expansion of the meat processing industry is likely to increase demand for livestock production that can augment the market in the assessment period. The extensive application of rendered products in fertilizers and cosmetics may escalate the demand for the same, which can strengthen the market. Furthermore, the growing requirement for biofuel owing to the rise in air pollution is anticipated to boost the demand for such substances, which is likely to augment the market.

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On the other hand, stringent rules imposed regarding the usage of rendered products can hamper the expansion of the market. However, the growing application of beef fat in the production of tallow, along with aforementioned causes are likely to counter obstructing causes and aid in boosting the market.

Key Players 

Eminent players of the global market for Rendered Products Industry are JBS USA Holdings Inc. (U.S.), Tyson Foods Inc. (U.S.), Valley Proteins Inc (U.S.), West Coast Reduction Ltd. (Canada), National Renderers Association (U.S.), Smithfield Foods Inc. (U.S.), and SOLEVAL. (France).

Industry Segmentation 

The segmental analysis of the global rendered products market is done by category, sources, and application.

The category-based segments of the global Rendered Products Industry are food grade, feed grade, and industrial grade. Among all, the feed grade segment is predicted to lead the global market during the assessment period.

The sources-based segments of the global Rendered Products Industry are beef, pork, sheep, poultry, and others. Among all segments, the beef segment is anticipated to dominate the market during the review period owing to its growing application in various end-user sectors.

The application-based segments of the global rendered products market are cosmetics, biofuel, animal feed, fertilizers, food industry, and others. Among all, the animal feed segment is expected to dominate the global market during the review period.

Regional Analysis 

Based on the region, the global market for rendered products is segmented into North America, Europe, Asia-Pacific, and the Middle East & Africa,

The regional segmentation of the global market for rendered products is anticipated to be dominated by North America. The regional market is expected to be led by the U.S. owing to the rising demand for beef in the various end-user sectors. Furthermore, the growing requirement for by-products in pet feed is anticipated to be another cause that can drive the regional market in the review period.

Europe is expected to acquire a second position in the global market during the review period owing to the rising demand for animal by-products in various end-user sectors. The U.K. is anticipated to make a notable contribution in the forecast period owing to the expansion of the meat processing industry.

The APAC region is projected to acquire a considerable market share during the forecast period owing to the presence of emerging countries like India and China, who are expanding their F&B sector to meet various demands of the growing population. Besides, the expansion of the meat processing industry in the region can augment the regional market significantly in the review period.

The MEA is anticipated to show steady growth during the review period. The presence of various lucrative opportunities to expand the market in the forthcoming period.

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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.