DARLING INGREDIENTS (DAR)

Its largest business is Feed Ingredients, which processes fats, proteins, hides, meals, and other materials for animal feed, pet food, fertilizer, and industrial applications. The Food Ingredients segment supplies products such as collagen, gelatin, natural casings, and specialty fats used by food, nutrition, and pharmaceutical customers. Through its Fuel Ingredients operations, Darling also participates in renewable diesel, biogas, and other low-carbon fuel markets, including through its renewable fuels activities linked to waste fats and oils.

Darling’s model is distinctive because it combines logistics, rendering, ingredient manufacturing, and sustainability-driven demand. Its operations help food and agricultural supply chains reduce waste while supplying inputs that are difficult to replace with purely synthetic alternatives. North America is its largest revenue base, but the company also has an international footprint serving customers across multiple regulated industries. Investors typically view Darling as an industrial and agribusiness company with exposure to protein demand, renewable fuels policy, commodity pricing, and long-term interest in resource recovery.