Co-products are a particular type of product but produced in different varieties. These products may not necessarily arise from the same operation or raw materials and may be produced in different quantities without any co-relation to the others according to the needs of the market.
For example, in the fan manufacturing industry, a number of co-products may be produced in different quantities, such as ceiling fan, table fan, pedestal fan, cabin fan, etc. Similarly, in the automobile industry co-products are cars, jeeps, trucks, buses, etc.
Co-products are distinguished from joint products in as much as the quantities of joint products remain in linear relationships between them whereas co-products are independent ones and may be produced in different quantities without any co-relationship with others.