Animal by-product Market Analysis and Latest Trends
Animal by-products are secondary products derived from animals in the food production process. These by-products include organs, fats, bones, blood, feathers, and other parts that are not intended for human consumption but can be utilized in various industries such as cosmetics, pharmaceuticals, and fertilizers.
The Animal by-product Market is expected to grow at a CAGR of 8.2% during the forecast period. The market growth is driven by the increasing demand for animal by-products in various industries due to their rich source of essential nutrients and bioactive compounds. The rising awareness about sustainable practices and the utilization of all parts of the animals also contribute to the market growth.
One of the latest trends in the Animal by-product Market is the increasing popularity of collagen peptides derived from animal bones and skin in the health and wellness industry. These collagen peptides are known for their anti-aging and joint health benefits, driving the growth of the market. Additionally, companies are focusing on new product developments and technological advancements to expand their product offerings and cater to the evolving consumer preferences.
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Animal by-product Major Market Players
The animal by-product market is highly competitive and comprises a mix of international and regional players. Some of the key players in the market include Darling Ingredients, Valley Proteins, SARIA, and Leo Group. These companies are leading the market with their extensive product portfolio, strong distribution networks, and focus on innovation and sustainability.
Darling Ingredients is a global leader in sustainable natural ingredients from edible and inedible bio-nutrients. The company has witnessed steady growth in recent years, driven by increasing demand for animal by-products in various industries such as food and animal feed. Darling Ingredients reported sales revenue of $3.6 billion in 2020.
Valley Proteins is another prominent player in the animal by-product market, specializing in rendering and recycling animal by-products into valuable ingredients such as fats, proteins, and meals for various applications. The company has a strong presence in North America and has been expanding its operations to meet the growing demand for sustainable animal by-products. Valley Proteins reported sales revenue of $1.2 billion in 2020.
SARIA is a leading provider of animal by-products and organic waste recycling solutions in Europe. The company has been focusing on expanding its product portfolio and geographical presence to capitalize on the growing demand for sustainable and eco-friendly solutions. SARIA reported sales revenue of $2.5 billion in 2020.
These companies are expected to witness further growth in the coming years, driven by increasing awareness about sustainability, rising demand for animal-derived products, and stringent regulations regarding waste management and disposal. The global animal by-product market is projected to reach a market size of $28.6 billion by 2025, with key players investing in research and development to introduce innovative products and solutions to gain a competitive edge.
What Are The Key Opportunities For Animal by-product Manufacturers?
The animal by-product market is experiencing steady growth due to increasing demand for animal-based products such as meat, dairy, and leather. Factors driving growth include rising consumption of meat and dairy products, as well as increasing awareness about the benefits of by-products in various industries such as pharmaceuticals, cosmetics, and agriculture. Additionally, regulatory changes and advancements in technology are expected to create new opportunities in the market. The market is projected to continue growing in the coming years, with a focus on sustainability and environmental concerns driving innovation and growth in the industry.
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Market Segmentation
The Animal by-product Market Analysis by types is segmented into: