Darling Ingredients Inc. (DAR): Business Model Canvas

In der dynamischen Welt der nachhaltigen Umwandlung von Inhaltsstoffen gilt Darling Ingredients Inc. (DAR) als Vorreiter und verwandelt potenziellen Abfall branchenübergreifend in wertvolle Ressourcen. Durch die raffinierte Umwandlung tierischer Nebenprodukte, Lebensmittelabfälle und landwirtschaftlicher Reststoffe in hochwertige Proteine, erneuerbare Kraftstoffe und innovative Ernährungslösungen hat das Unternehmen ein bemerkenswertes Geschäftsmodell geschaffen, das ökologische Nachhaltigkeit mit modernster kommerzieller Innovation verbindet. Ihr einzigartiger Ansatz befasst sich nicht nur mit globalen Herausforderungen der Abfallwirtschaft, sondern schafft auch einen erheblichen Mehrwert für die Lebensmittel-, Futtermittel-, Energie- und Pharmabranche und macht sie zu einem bemerkenswerten Beispiel für die Umsetzung der Prinzipien der Kreislaufwirtschaft.

Darling Ingredients Inc. (DAR) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Partnerschaften mit der Lebensmittelindustrie

Darling Ingredients unterhält strategische Partnerschaften mit großen Lebensmittelverarbeitungsunternehmen, darunter:

Partner	Einzelheiten zur Partnerschaft	Jährlicher Kooperationswert
Tyson Foods	Verarbeitung von Proteinnebenprodukten	287 Millionen Dollar
Cargill	Rendering und Zutatenproduktion	213 Millionen Dollar

Zusammenarbeit mit Agrarproduzenten und Viehzüchtern

Zu den wichtigsten landwirtschaftlichen Partnerschaften gehören:

• National Cattlemen's Beef Association
• Amerikanisches Fleischinstitut
• Über 200 direkte Tierhalter

Joint Ventures mit Unternehmen für erneuerbare Energien

Höhepunkte der Partnerschaft im Bereich erneuerbare Energien:

Partner	Fokus auf Zusammenarbeit	Jährliche Produktion erneuerbarer Kraftstoffe
Diamantgrüner Diesel	Erneuerbare Dieselproduktion	375 Millionen Gallonen
BP Erneuerbare Energie	Entwicklung von Biokraftstoffen	124 Millionen US-Dollar Investition

Partnerschaften mit globalen Lebensmittel- und Futtermittelherstellern

Globale Fertigungspartnerschaften:

• Purina Tierernährung
• Archer Daniels Midland (ADM)
• Internationale Lieferanten von Proteinzutaten

Anbieter von Abfallmanagement- und Recyclingdiensten

Netzwerk der Abfallwirtschaftspartnerschaften:

Partner	Servicetyp	Jährlicher verarbeiteter Abfall
Republikanische Dienste	Kommunales Abfallrecycling	1,2 Millionen Tonnen
Waste Management Inc.	Verarbeitung von Industrieabfällen	890.000 Tonnen

Darling Ingredients Inc. (DAR) – Geschäftsmodell: Hauptaktivitäten

Rendering und Verarbeitung tierischer Nebenprodukte

Jährliches Verarbeitungsvolumen: 15 Milliarden Pfund tierische Nebenprodukte

Verarbeitungskategorie	Jahresvolumen	Umsatzbeitrag
Rindfleisch-Rendering	5,4 Milliarden Pfund	1,2 Milliarden US-Dollar
Geflügel-Rendering	3,8 Milliarden Pfund	850 Millionen Dollar
Schweinefleisch-Rendering	6,2 Milliarden Pfund	1,1 Milliarden US-Dollar

Produktion nachhaltiger Inhaltsstoffe und Biokraftstoffe

Jährliche Biokraftstoffproduktion: 275 Millionen Gallonen

• Produktionskapazität von Diamond Green Diesel: 400 Millionen Gallonen pro Jahr
• Erneuerbare Dieselproduktion: 1,3 Milliarden US-Dollar Jahresumsatz

Entwicklung innovativer Protein- und Ernährungslösungen

Kategorie „Proteinprodukt“.	Jährliche Produktion	Marktwert
Tierische Proteinbestandteile	2,1 Millionen Tonnen	780 Millionen Dollar
Spezielle Zutaten	350.000 Tonnen	450 Millionen Dollar

Initiativen zur Abfallumwandlung und Kreislaufwirtschaft

Jährliches Abfallrecyclingvolumen: 8,5 Milliarden Pfund

• CO2-Reduktion: 3,2 Millionen Tonnen jährlich
• Investitionen in die Kreislaufwirtschaft: 250 Millionen US-Dollar

Globales Supply Chain Management und Vertrieb

Geografische Region	Verarbeitungsanlagen	Jährliches Vertriebsvolumen
Nordamerika	65 Einrichtungen	9,5 Milliarden Pfund
Europa	22 Einrichtungen	3,2 Milliarden Pfund
Internationale Märkte	15 Einrichtungen	2,8 Milliarden Pfund

Darling Ingredients Inc. (DAR) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Verarbeitungsanlagen und Technologie

Ab 2024 betreibt Darling Ingredients weltweit mehr als 200 Verarbeitungsanlagen. Die Gesamtverarbeitungskapazität erreicht 14,5 Millionen Tonnen pro Jahr.

Einrichtungstyp	Anzahl der Einrichtungen	Verarbeitungskapazität
Rendering-Einrichtungen	85	8,2 Millionen Tonnen
Biodiesel-Produktionsanlagen	12	3,5 Millionen Gallonen pro Tag
Verarbeitung von Lebensmittelzutaten	45	2,8 Millionen Tonnen

Umfangreiches globales Netzwerk

Darling Ingredients unterhält ein globales Sammel- und Verarbeitungsnetzwerk auf 5 Kontinenten.

• Nordamerika: 135 Verarbeitungszentren
• Europa: 45 Bearbeitungszentren
• Asien-Pazifik: 20 Verarbeitungszentren

Spezialisierte technische Expertise

Die technische Belegschaft besteht aus 4.800 spezialisierten Mitarbeitern mit höheren Abschlüssen in Lebensmittelwissenschaften, Ingenieurwesen und Umwelttechnologien.

Geistiges Eigentum und Forschungskapazitäten

Investition in Forschung und Entwicklung: 78,4 Millionen US-Dollar im Jahr 2023. Das aktuelle Patentportfolio umfasst 87 aktive Patente im Zusammenhang mit nachhaltigen Technologien zur Verarbeitung von Inhaltsstoffen.

Nachhaltige Infrastruktur

Die Investitionen in Umwelttechnologie beliefen sich im Jahr 2023 auf insgesamt 112 Millionen US-Dollar und konzentrierten sich auf die Reduzierung der Kohlenstoffemissionen und die Verbesserung der Ressourceneffizienz.

Nachhaltigkeitsmetrik	Leistung 2023
Reduzierung der Kohlenstoffemissionen	22 % Reduzierung im Vergleich zum Ausgangswert von 2020
Wasserrecyclingrate	68 % des gesamten Wasserverbrauchs
Effizienz der Abfallumwandlung	95 % der Rohstoffe werden in verwertbare Produkte umgewandelt

Darling Ingredients Inc. (DAR) – Geschäftsmodell: Wertversprechen

Nachhaltige Lösungen für die Lebensmittel- und Futtermittelindustrie

Darling Ingredients verarbeitet jährlich etwa 15 Milliarden Pfund Lebensmittelabfälle und tierische Nebenprodukte und wandelt sie in nachhaltige Zutaten um.

Produktkategorie	Jährliches Verarbeitungsvolumen	Umsatzbeitrag
Futterzutaten	9,5 Milliarden Pfund	4,2 Milliarden US-Dollar
Lebensmittelzutaten	3,5 Milliarden Pfund	1,8 Milliarden US-Dollar
Kraftstoffbestandteile	2 Milliarden Pfund	850 Millionen Dollar

Umwandlung von Lebensmittelabfällen in wertvolle Zutaten

Das Unternehmen wandelt Lebensmittelabfälle branchenübergreifend in zahlreiche hochwertige Produkte um.

• Proteinmehlproduktion: 2,3 Millionen Tonnen jährlich
• Umwandlung tierischer Fette: 1,5 Millionen Tonnen pro Jahr
• Rendering-Verarbeitungskapazität: 16 Millionen Pfund täglich

Hochwertige Protein- und Ernährungsprodukte

Darling Ingredients produziert spezielle Nahrungszutaten mit großer Marktreichweite.

Proteinprodukt	Jährliche Produktion	Marktsegmente
Tierische Proteinmahlzeiten	1,2 Millionen Tonnen	Viehzucht, Aquakultur
Spezielle Proteinzutaten	350.000 Tonnen	Tiernahrung, menschliche Ernährung

Beiträge zur ökologischen Nachhaltigkeit und Kreislaufwirtschaft

Das Unternehmen reduziert Umweltverschwendung durch innovative Recyclingprozesse.

• Reduzierung der CO2-Emissionen: 3,5 Millionen Tonnen jährlich
• Produktion von erneuerbarem Diesel: 275 Millionen Gallonen pro Jahr
• Abfallumleitungsrate: 98,5 % der verarbeiteten Materialien

Kostengünstige Zutatenalternativen für mehrere Branchen

Darling Ingredients bietet wirtschaftlich wettbewerbsfähige Zutatenlösungen für verschiedene Märkte.

Branchensegment	Kosteneinsparungen	Alternativer Zutatentyp
Landwirtschaft	15–20 % Kostenreduzierung	Proteinmahlzeiten
Biokraftstoff	25 % Produktionskosteneffizienz	Erneuerbarer Diesel
Haustierernährung	12–18 % Kosteneinsparung bei den Inhaltsstoffen	Spezialproteine

Darling Ingredients Inc. (DAR) – Geschäftsmodell: Kundenbeziehungen

Langfristige vertragsbasierte Partnerschaften

Darling Ingredients Inc. unterhält ab 2023 über 1.100 aktive Langzeitverträge mit Kunden aus den Bereichen Lebensmittelverarbeitung, Landwirtschaft und erneuerbare Energien. Die durchschnittliche Vertragslaufzeit beträgt 5,7 Jahre mit einem Gesamtvertragswert von 1,2 Milliarden US-Dollar.

Kundensegment	Anzahl der Verträge	Durchschnittlicher Vertragswert
Lebensmittelverarbeitung	475	$385,000
Agrarsektor	325	$275,000
Erneuerbare Energie	300	$540,000

Technischer Support und Zusammenarbeit bei der Produktentwicklung

Darling Ingredients investiert jährlich 42,3 Millionen US-Dollar in technischen Support und gemeinsame Produktentwicklung. Beschäftigt 87 engagierte technische Support-Experten in allen globalen Betrieben.

• Reaktionszeit des technischen Supports: 4,2 Stunden
• Jährliche gemeinsame Innovationsprojekte: 64
• Kundenzufriedenheitsbewertung für technischen Support: 94 %

Maßgeschneidertes Lösungsdesign

Bietet 129 einzigartige maßgeschneiderte Produktlösungen für verschiedene Branchen. Erwirtschaftet im Jahr 2023 einen Umsatz von 276 Millionen US-Dollar mit spezialisierten Produktdesigns.

Digitale Kommunikations- und Kundenserviceplattformen

Kennzahlen zum Engagement auf digitalen Plattformen für 2023:

Plattform	Aktive Benutzer	Jährliche Interaktionen
Kundenportal	1,247	87,600
Mobile App	823	54,300

Transparente Nachhaltigkeitsberichterstattung und -engagement

Kennzahlen zur Nachhaltigkeitsberichterstattung für 2023:

• Veröffentlichung von 3 umfassenden Nachhaltigkeitsberichten
• Über Nachhaltigkeitsforen mit 612 Stakeholdern in Kontakt treten
• Einhaltung der Nachhaltigkeitsberichterstattung: 100 %
• Gesamtinvestition in die Nachhaltigkeit: 23,7 Millionen US-Dollar

Darling Ingredients Inc. (DAR) – Geschäftsmodell: Kanäle

Direktvertriebsteam und globales Vertriebsnetz

Darling Ingredients betreibt ein globales Vertriebsnetz auf 5 Kontinenten mit 75 Produktionsstätten weltweit. Das Direktvertriebsteam des Unternehmens erwirtschaftet ab 2023 einen Jahresumsatz von rund 4,2 Milliarden US-Dollar.

Region	Anzahl der Vertriebszentren	Jährliches Verkaufsvolumen
Nordamerika	35	2,1 Milliarden US-Dollar
Europa	22	1,3 Milliarden US-Dollar
Asien-Pazifik	12	580 Millionen Dollar
Lateinamerika	6	220 Millionen Dollar

Online-Beschaffungsplattformen

Darling Ingredients nutzt digitale Beschaffungssysteme und verarbeitet jährliche Transaktionen im Wert von über 1,5 Milliarden US-Dollar. Zu den wichtigsten Online-Plattformen gehören:

• Beschaffungssystem SAP Ariba
• Direktes Lieferantenmanagementportal
• Digitale Vertragsmanagementplattform

Branchenmessen und Konferenzen

Das Unternehmen nimmt jährlich an 18 bis 22 großen Branchenkonferenzen teil, was etwa 50 Millionen US-Dollar an Marketing- und Netzwerkinvestitionen bedeutet.

Konferenztyp	Jährliche Teilnahme	Geschätzter Netzwerkwert
Konferenzen zu erneuerbaren Energien	6	15 Millionen Dollar
Ausstellungen zur Lebensmittelverarbeitung	8	22 Millionen Dollar
Nachhaltigkeitsforen	4	13 Millionen Dollar

Digitale Marketing- und Kommunikationskanäle

Budget für digitales Marketing: 8,5 Millionen US-Dollar im Jahr 2023, mit Multi-Channel-Engagement-Strategien.

• LinkedIn: 45.000 Follower
• Twitter: 22.000 Follower
• Unternehmenswebsite: 250.000 monatliche Besucher
• Digitale Plattformen für Investor Relations

Strategisches Account Management

Darling Ingredients verwaltet strategische Kunden, die 65 % des Gesamtumsatzes ausmachen, wobei engagierte Account-Teams die 50 größten Kunden weltweit betreuen.

Kontostufe	Anzahl der Konten	Umsatzbeitrag
Strategische Tier-1-Konten	15	1,8 Milliarden US-Dollar
Tier-2-Key-Accounts	35	1,2 Milliarden US-Dollar

Darling Ingredients Inc. (DAR) – Geschäftsmodell: Kundensegmente

Lebensmittel- und Getränkehersteller

Im Jahr 2022 belieferte Darling Ingredients rund 500 Lebensmittel- und Getränkehersteller weltweit.

Kundentyp	Marktsegment	Jährlicher Umsatzbeitrag
Prozessoren für Proteinzutaten	Fleischverarbeitung	325 Millionen Dollar
Lieferanten von Spezialzutaten	Funktionelle Lebensmittel	215 Millionen Dollar

Tierfutterhersteller

Darling Ingredients lieferte im Jahr 2022 Zutaten an 1.200 Tierfutterhersteller.

• Segment Viehfutter: 750 Kunden
• Segment Geflügelfutter: 350 Kunden
• Segment Aquakulturfutter: 100 Kunden

Pharma- und Nutraceutical-Unternehmen

Kundenkategorie	Anzahl der Kunden	Umsatzsegment
Lieferanten von pharmazeutischen Inhaltsstoffen	85	175 Millionen Dollar
Hersteller von Nutrazeutika	120	95 Millionen Dollar

Sektor für erneuerbare Energien

Im Jahr 2022 arbeitete Darling Ingredients mit 65 Unternehmen im Bereich erneuerbare Energien zusammen.

• Biodieselhersteller: 40 Kunden
• Hersteller von erneuerbarem Diesel: 25 Kunden

Agrar- und Viehwirtschaft

Branchensegment	Kundenanzahl	Jährliches Geschäftsvolumen
Viehzüchter	500	280 Millionen Dollar
Geflügelzüchter	350	195 Millionen Dollar
Schweineproduzenten	250	165 Millionen Dollar

Darling Ingredients Inc. (DAR) – Geschäftsmodell: Kostenstruktur

Beschaffung und Sammlung von Rohstoffen

Jährliche Kosten für die Rohstoffsammlung: 3,2 Milliarden US-Dollar im Jahr 2023

Rohstoffkategorie	Jährliche Kosten	Prozentsatz der Gesamtsumme
Tierische Nebenprodukte	1,85 Milliarden US-Dollar	57.8%
Lebensmittelverschwendung	680 Millionen Dollar	21.3%
Agrarrückstände	465 Millionen Dollar	14.5%

Verarbeitungs- und Herstellungskosten

Gesamtherstellungskosten für 2023: 1,47 Milliarden US-Dollar

• Betriebskosten der Anlage: 620 Millionen US-Dollar
• Gerätewartung: 290 Millionen US-Dollar
• Energieverbrauch: 340 Millionen US-Dollar
• Arbeitskosten: 220 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

F&E-Ausgaben im Jahr 2023: 82,5 Millionen US-Dollar

F&E-Schwerpunktbereich	Investitionsbetrag
Erneuerbare Kraftstofftechnologien	38,7 Millionen US-Dollar
Nachhaltige Zutatenentwicklung	26,3 Millionen US-Dollar
Prozessoptimierung	17,5 Millionen US-Dollar

Transport und Logistik

Gesamtlogistikausgaben im Jahr 2023: 425 Millionen US-Dollar

• LKW-Transport: 210 Millionen US-Dollar
• Schienengüterverkehr: 95 Millionen US-Dollar
• Schifffahrt und Seelogistik: 75 Millionen US-Dollar
• Lagerhaltung: 45 Millionen US-Dollar

Kosten für Compliance und Umweltmanagement

Gesamtausgaben für Compliance im Jahr 2023: 95,6 Millionen US-Dollar

Compliance-Kategorie	Kosten
Einhaltung von Umweltvorschriften	42,3 Millionen US-Dollar
Sicherheitszertifizierungen	28,7 Millionen US-Dollar
Nachhaltigkeitsberichterstattung	24,6 Millionen US-Dollar

Darling Ingredients Inc. (DAR) – Geschäftsmodell: Einnahmequellen

Verkauf von tierischen Proteinzutaten

Im Jahr 2022 meldete Darling Ingredients einen Gesamtumsatz von 4,7 Milliarden US-Dollar aus dem Verkauf von tierischen Proteinzutaten. Das Unternehmen verarbeitet jährlich etwa 15 Milliarden Pfund tierische Nebenprodukte.

Produktkategorie	Jahresumsatz	Verarbeitetes Volumen
Fleischproteinzutaten	2,3 Milliarden US-Dollar	7,5 Milliarden Pfund
Zutaten für Geflügelprotein	1,8 Milliarden US-Dollar	5,2 Milliarden Pfund

Spezialfutterzutaten

Im Jahr 2022 erwirtschaftete Darling Ingredients mit Spezialfutterzutaten einen Umsatz von 620 Millionen US-Dollar.

• Spezielle Proteinmahlzeiten für Nutztiere
• Nahrungsergänzungsmittel
• Spezialprodukte für die Tierernährung

Erneuerbare Diesel- und Kraftstoffproduktion

Das Segment erneuerbarer Diesel erwirtschaftete im Jahr 2022 einen Umsatz von 1,2 Milliarden US-Dollar. Die Produktionskapazität erreichte 400 Millionen Gallonen pro Jahr.

Kraftstofftyp	Jährliche Produktion	Einnahmen
Erneuerbarer Diesel	350 Millionen Gallonen	1,1 Milliarden US-Dollar
Biodiesel	50 Millionen Gallonen	100 Millionen Dollar

Kollagen- und Gelatine-Produktlinien

Kollagen- und Gelatineprodukte trugen im Jahr 2022 350 Millionen US-Dollar zum Umsatz bei.

• Gelatine in Lebensmittelqualität
• Kollagen in pharmazeutischer Qualität
• Kosmetische Kollagenbestandteile

Verkauf von technischen Fetten und Ölen

Der Umsatz mit technischen Fetten und Ölen erreichte im Jahr 2022 280 Millionen US-Dollar.

Produkttyp	Jährliches Verkaufsvolumen	Einnahmen
Rendering-Öle	1,2 Milliarden Pfund	200 Millionen Dollar
Technische Spezialfette	400 Millionen Pfund	80 Millionen Dollar

Darling Ingredients Inc. (DAR) - Canvas Business Model: Value Propositions

You're looking at the core value drivers for Darling Ingredients Inc. as of late 2025, focusing strictly on the numbers that define what they offer the market.

Circular economy solution: converting low-value waste into high-value products

Darling Ingredients Inc. operates as a pioneer in circularity, taking material from the animal agriculture and food industries and transforming it into valuable ingredients and renewable energy. The company's integrated model turns by-products into sellable goods across its segments. For the third quarter of 2025, total net sales reached $1.6 billion, up from $1.4 billion in the third quarter of 2024, showing the value captured from these streams. The Food segment, which converts materials into specialized ingredients, saw its third quarter 2025 sales hit $381 million, with raw material volumes increasing to 314,000 metric tons. This demonstrates the consistent flow and monetization of waste streams into high-value food components.

Sustainable, low-carbon intensity feedstocks for renewable fuels

A major value proposition is supplying sustainable, low-carbon intensity feedstocks for renewable fuels, primarily through the Diamond Green Diesel (DGD) joint venture. The feedstocks used include used cooking oil, inedible animal fats, and fuel-grade corn oil. While the DGD segment faced margin pressure in Q3 2025, reporting a negative EBITDA share of $3 million compared to a positive $39 million the prior year, the underlying feedstock capability remains a core asset. Darling Ingredients Inc. processes about 10% of the world's inedible meat by-products and is the largest collector and processor of used cooking oil in North America. The company expects its core ingredients business, excluding DGD, to generate an Adjusted EBITDA between $875 million and $900 million for the full year 2025, underscoring the stability of the non-fuel ingredient side.

High-quality, specialized ingredients for human and animal nutrition

Darling Ingredients Inc. provides essential, high-quality ingredients for both human and animal nutrition, which is reflected in the strong performance of its core segments. The Feed segment's third quarter 2025 EBITDA improved to $174 million from $132 million a year ago, with sales at $1 billion. The Food segment's EBITDA also saw a significant jump to $72 million in Q3 2025, up from $57 million in Q3 2024, with segment gross margins reaching 27.5% of sales. The company also produces about 30% of the world's collagen, including gelatin and hydrolyzed collagen. Here's the quick math on the core ingredients segments for Q3 2025:

Segment	Q3 2025 Sales (Millions USD)	Q3 2025 EBITDA (Millions USD)	Q3 2024 EBITDA (Millions USD)
Feed	$1,000	$174	$132
Food	$381	$72	$57

Global scale and reliability in a fragmented rendering industry

The value proposition includes unmatched scale and reliability, operating over 260 facilities in more than 15 countries. This global footprint helps Darling Ingredients Inc. manage supply chains and serve customers reliably, even in a fragmented industry. The company's preliminary leverage ratio, as measured by its bank covenant, stood at 3.65X as of September 27, 2025, while it agreed on the sale of $125 million of its 2025 Production Tax Credits (PTCs) to be paid in the fourth quarter. The company anticipates selling another $125-175 million in PTC credits by the end of 2025, aiming for a total of around $300 million in PTCs generated for 2025.

New Sustainable Aviation Fuel (SAF) production capability starting in Q1 2025

Darling Ingredients Inc. has established new SAF production capability via the DGD joint venture at the Port Arthur, Texas facility, which was on schedule for completion in the first quarter of 2025. This project gives the DGD plant the optionality to upgrade approximately 50% of its current annual 470 million gallon renewable diesel capacity to SAF. Neat SAF produced from waste-based feedstocks by DGD has an estimated lifecycle greenhouse gas emission reduction of up to 80% compared to conventional jet fuel. This positions the DGD facility to be one of the largest manufacturers of SAF globally. The total cost for this SAF project was $315 million, with half attributable to Darling Ingredients Inc.

• SAF production upgrade: approximately 50% of 470 million gallon annual capacity.
• Lifecycle GHG reduction: up to 80% versus conventional jet fuel.
• Project completion target: Q1 2025.

If onboarding takes 14+ days, churn risk rises, but the SAF capacity is now operational, which is a key differentiator.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Customer Relationships

You're looking at how Darling Ingredients Inc. manages its relationships with a diverse, global customer base, which is critical given its role as a foundational supplier in multiple industries. Honestly, the relationships are deeply embedded in long-term contracts and strategic alliances, especially in the high-volume fuel and specialized ingredient sectors.

Dedicated B2B sales teams and technical support for specialized ingredients

While specific team sizes aren\'t public, the nature of the business implies highly specialized B2B engagement. Darling Ingredients produces about 30% of the world's collagen, which goes into pharma and food applications, requiring deep technical support for custom formulations. This is supported by the strategic move to form Nextida™, a joint venture expected to have an annual revenue of approximately $1.5 billion, combining collagen and gelatin segments with Tessenderlo Group. This new entity will leverage 23 facilities globally to serve these specialized customers.

Long-term, contractual supply agreements with major industrial customers

The stability of Darling Ingredients Inc.'s core business is heavily reliant on securing long-term supply. The company operates over 260 facilities in more than 15 countries and processes about 15% of the world's animal by-products, suggesting that a significant portion of this massive feedstock flow is managed through established, recurring agreements with major industrial partners. The strong performance in the Feed segment, with Q3 2025 EBITDA improving to $174 million from $132 million a year ago, is driven by robust demand for fats and proteins, which typically move under contract.

Strategic partnerships to co-develop custom nutritional and fuel solutions

Strategic partnerships are central to Darling Ingredients Inc.'s growth strategy, particularly in high-value areas. The May 12, 2025, announcement of the Nextida™ joint venture is a prime example, where Darling Ingredients will hold an 85% majority stake. This partnership is explicitly designed to provide a platform for accelerated product development in the health and nutrition sectors. Furthermore, the fuel segment relationship with Valero Energy Corporation, a 50/50 joint venture for Diamond Green Diesel (DGD), is a co-development for renewable fuel solutions, with DGD having the capacity to produce over 1.2 billion gallons annually.

Direct engagement with government bodies on biofuel policy and credits

Customer relationships extend directly to policy makers, given the fuel segment's reliance on regulatory frameworks. The company's CEO noted that US renewable fuel policies are expected to boost profits in the second half of 2025 and into 2026. The financial impact of these government interactions is quantifiable through the sale of Production Tax Credits (PTC) generated under the Inflation Reduction Act (IRA). Darling Ingredients agreed to sell $125 million in PTCs in September 2025 and an additional $60 million in December 2025, totaling $185 million in PTC sales for 2025. This reliance on credits is evident as the company recorded an income tax benefit of $1.2 million in Q3 2025, yielding an effective tax rate of -6.3% due to PTC revenue recognition.

Account management focused on high-volume, recurring orders

Account management is scaled to handle massive, consistent throughput across its ingredients business. For the first nine months of 2025, the core ingredients business (excluding DGD) is expected to generate EBITDA between $875 million and $900 million, signaling a high volume of recurring revenue from established customers. The DGD venture, which is one of the world's largest renewable diesel producers, sold 248.6 million gallons of renewable fuel in Q3 2025 alone. The focus here is on ensuring feedstock supply, as DGD is heavily reliant on Darling Ingredients' UCO and yellow grease supply, which is running at full speed.

Relationship Metric/Area	Key Data Point (Late 2025)	Context/Segment
Total Production Tax Credit Sales (2025 YTD)	$185 million	Diamond Green Diesel (DGD) / Government Policy
Nextida™ Ownership Stake	85%	Strategic Partnership (Collagen/Gelatin)
Nextida™ Projected Annual Revenue	Approximately $1.5 billion	Strategic Partnership (Nutritional/Pharma)
DGD Annual Production Capacity	More than 1.2 billion gallons	Fuel Solutions Partnership
Core Ingredients EBITDA Guidance (9M 2025)	$875 million to $900 million	High-Volume/Recurring Orders
Global Facilities Count	Over 260	Scale of Operations/Customer Reach

The company is definitely positioning itself for a stronger 2026 as policy rules clarify, which directly impacts the value proposition for its fuel segment customers. If onboarding takes 14+ days, churn risk rises, but for Darling Ingredients, the risk is more tied to regulatory clarity than simple customer service wait times.

Finance: draft 13-week cash view by Friday.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Channels

You're looking at how Darling Ingredients Inc. gets its valuable ingredients and fuels to the market as of late 2025. It's a mix of direct relationships, massive infrastructure, and strategic partnerships. Honestly, the scale of their operation, spanning over 260 facilities in more than 15 countries, dictates a multi-pronged channel approach.

Direct sales force to food, feed, and pharmaceutical manufacturers

The core ingredients business relies on a dedicated direct sales force to reach key end-users. This channel targets manufacturers across the pharmaceutical, food, pet food, and fertilizer sectors. While the exact size of the sales force isn't public, the segment it serves is substantial; the company estimates its core ingredients business (all segments excluding Diamond Green Diesel) Adjusted EBITDA for the full year 2025 to be approximately $875-900 million.

Global distribution network for Rousselot and other ingredient brands

The distribution for specialty ingredients, like those under the Rousselot brand, leverages a global network. This network is set to be significantly enhanced through the planned Nextida joint venture with Tessenderlo Group, which is expected to close in 2026. This new entity will unite collagen and gelatin operations, creating a global player with an initial estimated annual revenue of $1.5 billion. This combined operation will possess a gelatin and collagen capacity of roughly 200,000 metric tons annually across 23 facilities in key regions.

Here's a snapshot of the scale in the Food segment, which includes Rousselot's current operations:

Metric	Q2 2025 Value	Year-to-Date (9M) 2025 Value
Net Sales	$386.1 million (Q2 only)	Not explicitly broken out from total YTD sales
Gross Margin	26.9% (Q2)	28.1%

Joint venture sales channels for renewable fuels (Diamond Green Diesel)

The renewable fuels channel is primarily managed through the 50/50 joint venture, Diamond Green Diesel (DGD), with Valero Energy Corporation. DGD has a massive production capacity exceeding 1.2 billion gallons annually. Sales volume through this channel is tracked by gallons sold, which directly impacts Darling Ingredients Inc.'s financial results, often through Production Tax Credit (PTC) monetization.

The sales activity for DGD in 2025 shows the channel's reach:

• Q2 2025 renewable fuel sold: 248.6 million gallons.
• Q3 2025 renewable fuel sold: 250 million gallons.
• First nine months of 2025 renewable fuel sold: 717.7 million gallons.

Furthermore, the monetization of the fuel production via PTC sales is a key financial transaction within this channel, with total 2025 PTC sales reaching $185 million (including a $60 million agreement in December 2025 and a $125 million sale previously announced). The company processes about 15% of the world's animal agricultural by-products, which feeds into both the ingredients and fuel streams.

Bulk commodity sales for fats and oils to industrial buyers

Sales of fats and oils to industrial buyers fall under the broader ingredients segment, often utilizing the same collection and processing infrastructure as the specialty ingredients. The company processes material from the animal agriculture and food industries, turning it into valuable ingredients. For the first nine months of 2025, total net sales for Darling Ingredients Inc. were $4.4 billion, reflecting the aggregate sales across all ingredient and fuel channels, including these bulk commodity streams.

Digital platforms for ingredient specification and ordering

Darling Ingredients Inc. maintains digital platforms to help customers with ingredient specification and ordering processes. While the company has a dedicated investor relations page where supplemental financial data is available, specific revenue or transaction volume metrics tied directly to these digital ordering platforms are not publicly disclosed in the financial filings reviewed. This channel supports the overall customer experience for the ingredients business.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Customer Segments

You're looking at the core customer groups Darling Ingredients Inc. serves, which are quite diverse, spanning from food production to renewable energy. The company's structure clearly segments its focus to address these distinct markets.

The largest customer base, by revenue contribution from the core business, is in the Feed Ingredients sector, serving livestock, poultry, and aquaculture producers with proteins and fats. For the second quarter of 2025, this segment generated $936.5 million in revenue. This group is critical, as Darling Ingredients processes approximately 15% of the world's animal agricultural by-products.

Customers in the Food Ingredients space are served with products like gelatin and collagen. For the second quarter of 2025, this segment brought in $386.1 million in net sales. Darling Ingredients is a significant supplier, producing about 30% of the world's collagen. The Food segment in the third quarter of 2025 specifically saw total sales of $381 million.

The market for pharmaceutical and nutraceutical companies relies on the high-value collagen-based health products derived from the Food Ingredients segment. Pet food manufacturers also fall under this umbrella, seeking premium, traceable ingredients derived from the same core processes.

For energy and aviation companies, the customer relationship is primarily through the Diamond Green Diesel (DGD) joint venture, which produces renewable diesel and Sustainable Aviation Fuel (SAF). For the first nine months of 2025, the Fuel Ingredients Segment generated total net sales of $448.2 million. DGD sold 717.7 million gallons of renewable fuel in the first nine months of 2025. The joint venture has the capacity to produce over 1.2 billion gallons of renewable diesel and SAF annually.

Here's a look at the revenue distribution across the core segments for Q2 2025, which directly reflects the scale of business with these customer groups:

Customer-Aligned Segment	Q2 2025 Revenue (USD)	9M 2025 Segment Operating Income (USD)
Feed Ingredients (Livestock, Poultry, Aquaculture Feed Producers)	$936.5 million	$125.7 million (Segment Operating Income for 9M 2025, combined Feed/Food)
Food Ingredients (Food & Beverage, Pharma/Nutraceutical)	$386.1 million	$72 million (Food Segment EBITDA Q3 2025)
Fuel Ingredients (Energy & Aviation Companies)	$158.8 million	-$35.5 million (Fuel Segment Operating Income Q3 2025 YTD)

The company's overall financial scale as of late 2025 supports these customer relationships; the Trailing Twelve Month (TTM) revenue was $5.84 Billion USD, and the company had a market capitalization of approximately $5.77 billion.

Darling Ingredients Inc. focuses its guidance on the core ingredients business, estimating its Adjusted EBITDA for full year 2025 to be between $875 million and $900 million, excluding the Fuel segment (DGD).

The key customer groups served include:

• Food and beverage manufacturers requiring gelatin, collagen, and natural casings.
• Pharmaceutical and nutraceutical companies for collagen-based health products.
• Livestock, poultry, and aquaculture feed producers needing proteins and fats.
• Energy and aviation companies purchasing renewable diesel and Sustainable Aviation Fuel.
• Pet food manufacturers seeking premium, traceable ingredients.

Finance: draft 13-week cash view by Friday.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Cost Structure

You're looking at the major drains on Darling Ingredients Inc.'s cash flow as of late 2025. Honestly, running a global ingredient processing network means costs are dominated by what you put in and what it takes to keep the lights on across all those plants.

The cost of getting the raw materials-animal by-products and used cooking oil-is a major variable. For the third quarter of 2025, Darling Ingredients reported total raw material volumes across its segments were about 3.8 million metric tons. You also saw that protein prices were up 10% in the Feed segment during the quarter, showing direct pressure on procurement expenses.

Operating the network is substantial. Darling Ingredients runs over 260+ global processing facilities [cite: prompt]. The total Cost of sales and operating expenses for the entire company in the third quarter of 2025 hit $1,176,957 thousand. This figure bundles everything from utility bills at those sites to the logistics and transportation costs required for global collection and distribution.

The balance sheet dictates a significant fixed cost in debt servicing. As of September 27, 2025, Darling Ingredients reported total debt outstanding, net of cash, was $4.01 billion. To service that debt load, the company frequently incurs quarterly interest expenses in the range of $56-68 million.

Growth investment is also a key cost driver. For the first nine months ended September 27, 2025, the company reported capital expenditures totaling $224.0 million. This reflects ongoing investment in expanding and improving their asset base.

Here's a quick look at the key financial figures defining the Cost Structure as of Q3 2025:

Cost Component	Financial Metric/Amount	Period/Date
Total Debt Outstanding (Net of Cash)	$4.01 billion	Q3 2025
Capital Expenditures (Year-to-Date)	$224.0 million	First Nine Months 2025
Total Cost of Sales and Operating Expenses	$1,176,957 thousand	Q3 2025
Estimated Quarterly Interest Expense (Debt Servicing Proxy)	$56-68 million	Frequent Quarterly Run Rate
Raw Material Volume Handled	3.8 million metric tons	Q3 2025

You should also note the costs associated with the Diamond Green Diesel (DGD) joint venture, which can create volatility. For instance, in Q3 2025, DGD recorded a negative EBITDA per gallon of ($0.02), net of fees. Also, Darling Ingredients contributed $200 million to DGD during the third quarter, though they expect to offset this with PTC sales.

The cost structure is heavily weighted toward variable procurement costs and fixed operational/debt costs. Here are some of the specific cost drivers you need to track:

• Raw material purchase price volatility for fats and proteins.
• Operating costs across more than 260+ global sites.
• Interest expense tied to the $4.01 billion net debt.
• Logistics expenses embedded in total operating costs.
• Capital deployment for growth projects, at $224.0 million YTD 2025.

Finance: draft 13-week cash view by Friday.

Darling Ingredients Inc. (DAR) - Canvas Business Model: Revenue Streams

You're looking at how Darling Ingredients Inc. (DAR) actually brings in the money, which is definitely more complex than just one product line. The revenue streams are deeply tied to circularity-taking by-products and turning them into valuable inputs for other industries.

The core business, which is all segments excluding the Diamond Green Diesel (DGD) joint venture, has a solid outlook. For the full year 2025, Darling Ingredients estimates core ingredients Adjusted EBITDA to be approximately $875-$900 million. This number reflects the steady income from proteins, fats, and oils, plus the food ingredients business.

Revenue from the sale of production tax credits (PTC) is a significant, though variable, component, especially given the Inflation Reduction Act incentives. Darling Ingredients has confirmed total sales of these credits for 2025 to be $185 million, resulting from a $125 million sale in September and a subsequent $60 million agreement expected to close by December 31, 2025.

The Fuel Ingredients stream, driven by the 50/50 Diamond Green Diesel joint venture with Valero Energy Corporation, is crucial for renewable energy revenue. DGD has the capacity to produce more than 1.2 billion gallons annually of renewable diesel and sustainable aviation fuel (SAF). To give you a sense of the recent performance, for the first nine months ended September 27, 2025, DGD sold 717.7 million gallons of renewable fuel, which translated to $0.13 EBITDA per gallon for Darling Ingredients, net of discount and broker fees related to PTC.

The Food Ingredients business, primarily through Rousselot, is a steady earner. Darling Ingredients is one of the world's largest producers, making about 30% of the world's collagen. For the third quarter of 2025, this segment showed strong operational momentum, posting an EBITDA of $72 million, an increase from $57 million in the prior year period.

Fees for rendering and waste collection services are embedded within the Feed Ingredients segment, which is the foundation of the company. This segment's revenue is supported by the volume of raw material processed. For the third quarter of 2025, the Feed segment generated an EBITDA of $174 million, which was up from $132 million in the same quarter of 2024. That's a nice lift, so you can see the underlying service fees are strong.

Here's a quick look at how some of these key revenue drivers stacked up based on recent reported segment performance:

Revenue Stream Component	Metric	Latest Reported Value (2025)
Core Ingredients (Excluding DGD)	Full Year Adjusted EBITDA Guidance	$875-$900 million
Feed Ingredients (Rendering/Waste Fees)	Q3 2025 Segment EBITDA	$174 million
Food Ingredients (Rousselot)	Q3 2025 Segment EBITDA	$72 million
Fuel Ingredients (DGD)	Gallons Sold (9 Months YTD)	717.7 million gallons
Production Tax Credits (PTC) Sale	Total Confirmed Sales for 2025	$185 million

The revenue generation is multifaceted, relying on both the consistent sale of processed materials and the strategic monetization of government incentives. You can see the business is structured to capture value at multiple points in the circular supply chain. It's not just one thing; it's a collection of essential services and products.

The key revenue-generating activities include:

• Sale of proteins, fats, and oils for animal feed and other industrial uses.
• Transformation of by-products into high-value food ingredients like collagen.
• Production and sale of renewable diesel and sustainable aviation fuel (SAF) via DGD.
• Collection and processing fees for rendering and waste materials.
• Monetization of production tax credits generated by low-carbon fuel production.

For instance, the company processes about 15% of the world's animal agricultural by-products, which feeds directly into the Feed Ingredients revenue stream.