The U.S. rendering and meat by-product processing market has seen fluctuating turnover from 2013 to 2023. The market value has decreased from $6.3335 billion in 2013 to $5.454 billion in 2023. Year-on-year variation demonstrates occasional declines and modest growth since 2016. Over the previous two years (2022-2023), the market showed slight growth, marking +0.45% (2022 to 2023) and +0.46% (2021 to 2022). The last five years’ CAGR stands at +0.47%, indicating steady but minimal growth. The forecast from 2024 suggests continued incremental growth with a forecasted 5-year CAGR of +0.33% and an overall growth rate of +1.65% by 2028.
Future trends to watch for include advancements in processing technology, changing consumer preferences towards sustainability, and fluctuations in raw material availability that could significantly impact turnover in the rendering and meat by-product processing industry. The industry's ability to adapt to environmental regulations and innovate in waste management and product utilization will be critical to sustaining growth.
