A company involved in the animal rendering business sought information about fluctuations in demand for animal by-products and price volatility to formulate effective strategies.
Straits has worked on multiple reports related to the food and animal service market. The methodology, however, is different as the two markets are not the same.
Our team conducted secondary research to gain a basic understanding of the market, its drivers, restraints, potential opportunities, and influential trends. There were price fluctuations in the market due to the abundant availability of animal by-products due to initiatives focusing on animal husbandry's growth.
Several industry experts actively involved in the field were interviewed about price fluctuations, the supply chain, and the strategies undertaken by other players involved in the animal rendering market. These interviews revealed that local abattoirs were partnering with leading food and meat producers, acquiring animal waste processing plants. This vertical integration posed a threat to the industry players who were solely involved in animal rendering.
The client was solely involved in rendering and looking to venture to other opportunities and markets. Our team formulated a model considering the functioning of farms, the level of automation, the distance of the farm from the nearest slaughterhouses, the state's stand in promoting animal husbandry, and regulatory policies guarding the pricing and animal slaughter practices.
Using this methodology, we provided the client with the market forecasts and growth strategies adopted by various market players. The analysis of environmental factors and regulatory policies regarding the disposal of animal carcasses helped the company enhance its supply chain operations.