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2024 U.S. Industry Statistics & Market Forecast - Rendering and Meat Byproduct Processing
Market Size & Industry Statistics
The total U.S. industry market size for Rendering and Meat Byproduct Processing:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2019 2020 2021 2022 2023 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Rendering & Meat Byproduct Processing industry is witnessing several trends that are shaping its future course of action. Sustainability has emerged as one of the biggest concerns for this industry, and it is focusing on adopting eco-friendly and sustainable practices. Recycling and repurposing of meat byproducts are becoming more commonplace, leading to a reduction in waste and greenhouse gas emissions.Additionally, there is an increasing demand for natural and organic products, including pet food, which is driving the industry towards more premium products with higher value-added ingredients. This trend is causing a shift towards the use of non-GMO and pasture-raised livestock, resulting in an increasing demand for transparency and traceability in the supply chain.
There is also a growing focus on animal welfare, leading to a reduction in animal cruelty practices and a heightened emphasis on ethical slaughter practices. The need for sustainable, traceable, and humane production practices is driving innovation in the industry, with new technologies and processes that are safer, more efficient, and more environmentally friendly.
The COVID-19 pandemic has also impacted the industry, leading to changes in production, consumption, and supply chains. The need for social distancing and closures of processing plants has led to a disruption in the supply chain, resulting in an increased demand for alternative sources of protein.
Lastly, the high cost of animal feed and flours are forcing the industry to find innovative solutions to reduce costs and improve efficiency. Alternative feed sources like insect-based proteins and plant-based proteins are being explored as more affordable options, driving changes, and innovation in the industry.
U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Rendering and Meat Byproduct Processing company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Rendering and Meat Byproduct Processing industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Rendering and Meat Byproduct Processing measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 2% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Installation, Maintenance, and Repair Occupations | 6% | |||
| Other Installation, Maintenance, and Repair Occupations | 5% | |||
| Production Occupations | 58% | |||
| Food Processing Workers | 39% | |||
| Butchers and Other Meat, Poultry, and Fish Processing Workers | 34% | |||
| Meat, Poultry, and Fish Cutters and Trimmers | 18% | |||
| Slaughterers and Meat Packers | 14% | |||
| Miscellaneous Food Processing Workers | 5% | |||
| Other Production Occupations | 15% | |||
| Packaging and Filling Machine Operators and Tenders | 6% | |||
| Packaging and Filling Machine Operators and Tenders | 6% | |||
| Transportation and Material Moving Occupations | 20% | |||
| Material Moving Workers | 18% | |||
| Laborers and Material Movers | 16% | |||
| Laborers and Freight, Stock, and Material Movers, Hand | 10% | |||
Rendering and Meat Byproduct Processing Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Rendering and Meat Byproduct Processing industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Rendering and Meat Byproduct Processing industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Rendering and Meat Byproduct Processing industry. |
Source:
Innovation News
- Jan 22, 2024: Protos Foods trademarks "" - Meat; Meat jerky
- Sep 29, 2023: Wilde Brands trademarks "WILDE COMPLETE CHIPS" - Meat-based snack foods
- Dec 13, 2022: Wilde Brands trademarks "WILDE" - Meat-based snack foods
- Dec 05, 2019: Wilde Brands patents Conveyor Belt And Endless Fryer System
Recent Federal Contracts for Rendering and Meat Byproduct Processing- Feb 21, 2024: TUCSON TALLOW CO INC (Tucson, AZ) awarded $13,440
- Jan 11, 2024: NEVADA BYPRODUCTS INC (Reno, NV) awarded $34,000
- Feb 21, 2024: TUCSON TALLOW CO INC (Tucson, AZ) awarded $13,440
- Jan 11, 2024: NEVADA BYPRODUCTS INC (Reno, NV) awarded $34,000
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