Darling Ingredients Inc (DAR) |
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Darling Ingredients Inc 's Comment on Competitors and Industry Peers
We believe we are the only global ingredients company with products generated
principally from animal-origin raw material types; however, we compete with a
number of regional and local players in our various sub-segments and end markets.
The procurement of raw materials currently presents greater challenges to our
business than the sale of finished products. In North America, consolidation
within the meat processing industry has resulted in bigger and more efficient
slaughtering operations, the majority of which utilize “captive”
renderers (rendering operations integrated with the meat or poultry packing
operation). At the same time, the number of small meat processors, which have
historically been a dependable source of supply for non-captive renderers, such
as us, has decreased significantly. In addition, the slaughter rates in the
meat processing industry are subject to economic conditions and, as a result,
during periods of economic decline, the availability, quantity and quality of
raw materials available to the independent renderers decreases. These factors
have been offset, in part, however, by increasing environmental consciousness.
The need for food service establishments in the United States to comply with
environmental regulations concerning the proper disposal of used restaurant
cooking oil should continue to provide a growth area for this raw material source.
The rendering industry is highly fragmented with a number of local slaughtering
operations that provide us with raw materials. In North America, we compete
with other rendering, restaurant services and bakery residual businesses, and
alternative methods of disposal of animal processing by-products and used restaurant
cooking oil provided by trash haulers, waste management companies and biodiesel
companies and others. In addition, U.S. food service establishments have increasingly
experienced theft of used cooking oil. A number of our competitors for the procurement
of raw material are experienced, well-capitalized companies that have significant
operating experience and historic supplier relationships. Competition for available
raw materials is based primarily on price and proximity to the supplier.
In marketing our finished products domestically and internationally, we face
competition from other processors and from producers of other suitable ingredient
alternatives. However, we differentiate ourselves through the scope and depth
of our product portfolio and geographic footprint. While we compete with a number
of well capitalized companies across our business, such as Cargill, Inc., Tyson
Foods, Inc. and Swift & Company in the U.S. products business, and others
in the global gelatin, bone products, and blood products business, we do not
have a single competitor that we compete with across all of our products or
geographies.
Overall company Market Share Q4 2023 |
*Market share is calculated based on total revenue.
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