Rendered Products Market to Reach USD 26.09 Billion by 2029; Mavitech LLC and Caril Zeiss Spectroscopy Collaborated to Launch New Spectrometer

The global rendered products market size was USD 21.45 billion in 2021. The market is anticipated to grow from USD 21.87 billion in 2022 to USD 26.09 billion by 2029 at a CAGR of 2.55% during the 2022-2029 period.

Fortune Business Insights™ publishes this information in its report titled, "Rendered Products Market Size, Share & COVID-19 Impact Analysis, By Source (Sheep, Poultry, Cattle, Hogs, and Others), By Type (Tallow, Poultry Fat, Grease, Protein Meal, and Others), By Grade (Food Grade, Feed Grade, and Industrial Grade), and Regional Forecast, 2022-2029."

Lack of Raw Material Supplies Amid Pandemic Hindered Market Growth

The COVID-19 pandemic has negatively affected the food and beverage industry due to a disrupted supply chain and lack of raw material supplies. The market witnessed declined demand for rendered products from various industries due to the closure of national borders. Furthermore, the governments imposed stringent travel restrictions, which hampered the countries' import/export activities. Also, halted manufacturing operations affected the productivity and profitability of the companies.

Mavitech LLC Collaborated with Caril Zeiss Spectroscopy to Introduce New Spectrometer 

Mavitech LLC cooperated with Caril Zeiss Spectroscopy to introduce a new in-line Near InfraRed Spectrometer (NIRS). This will allow the users to monitor the quality of end-products such as oils, protein, fats, and tallows. This unit will reduce the average time required to continuously monitor the quality of products.    

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/rendered-products-market-100806

Increasing Environmental Sustainability Concerns to Augment Growth   

The market is expected to grow prominently during the projected period, owing to rising demand for rendered products in the feed sector. Furthermore, the increasing environmental sustainability concerns are projected to bolster the rendered products market growth during the forecast period. The rising production of novel products is anticipated to drive the market growth due to rising utilization of animal byproducts.

New System Launch Allow Companies to Propel Growth

The leading companies in the market focus on launching new products to enhance their business performance by improving their product portfolio. The key market players in the market focus on forming strategic alliances, collaborations, partnerships, brand acquisitions, and mergers to strengthen their market positions.

Notable Industry Development:

• August 2020: Mavitech, LLC, in cooperation with Carl Zeiss Spectroscopy, introduced a new in-line Near InfraRed Spectrometer (NIRS), a fast and reliable unit for continuously monitoring the quality of end-products such as protein, tallow, oils, and fats.

List of Key Players Covered in the Report:

• Darling Ingredients Inc. (U.S.)
• West Coast Reduction Inc. (Canada)
• Nordfeed (Turkey)
• JBS S.A. (Brazil)
• Tyson Foods Inc. (U.S.)
• Valley Proteins Inc. (U.S.)
• Sanimax (Canada)
• Allanasons Pvt. Ltd. (India)
• Leo Group Ltd. (U.K.)
• SRC Companies Inc. (U.S.)

Further Report Findings:

North America dominates the global rendered products market share due to increasing demand for high-quality animal feed. The regional market stood at USD 10.19 billion in 2021. Also, the rising popularity of specialty pet food is anticipated to drive the regional market.

Based on type, the market is categorized into tallow, poultry fat, grease, protein meal, and others. The tallow segment is anticipated to dominate the global market during the forecast period due to its increasing demand from several industries.

Table of Segmentation: