“Rising innovations and increasing adoption of full automated technology will boost the market”
The global meat processing equipment market is growing competently, projected to grow at a CAGR of 6.9% during the expected period from 2019 to 2027, starting from US$ 9.81 Bn in 2018.
Market Synopsis
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“Intensifying use of automated equipment among industries worldwide will spark market growth”
In terms of value, the grinding equipment is estimated to dominate the market for meat processing equipment in 2019. Additionally, wide-scale practice of grinding equipment for grinding fragmented pieces of tenderized meat into smaller pieces will expand the market growth. Moreover, increasing use of grinders for processing a wide range of products like sausages, minced meat, hamburgers, and other products, is expected to boost up the market for meat processing equipment on a global scale. Furthermore, growing awareness towards production quality, product consistency, food safety, and workers safety are the major drivers urge the demand for the use of automated equipment across global meat industry.
“The rising trend of technological advancement along with safety & regulations for high level machines worldwide will boost the equipment segment”
Adoption of modern biotechnology coupled with new technologies for meat processing chain have increased its demand for meat processing equipment across the globe. In addition, new guidelines issued by the U.S. government for food companies is likely to increase the recollections of meat products certainly containing plastic, metals, and other foreign materials. For instance, according to the new guidelines by the U.S. Department of Agriculture, enterprises that manufacture beef and pork processed meat will soon have more control over the sorting of hogs, will expand the market which is likely to drive the demand for meat processing equipment globally.
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“Dominance is led by the growing consumer demand for processed meat coupled with presence of global market players.”
Increasing demand for meat is expected to be driven by steady economic growth in developing countries, thereby expanding the market for meat processing equipment globally. According to annual projections from U.S. Department of Agriculture Imports the U.S. is projected to be the largest importer of beef with an increase of around 18% in global imports. Additionally, the alignment of its BSE policy with OIE is likely to increase the beef trading between the U.S. and European Union (EU). On account of growing investment in meat processing facilities, rising demand for processed meat, and presence of a large number of meat processors, like Cargill Meat Solutions Corp., JBS USA, and Tyson Foods in North America, will spur the demand for meat processing equipment across the region.
Furthermore, growing number of new product launches, eating habits of consumers towards processed meat has resulted in the growth of the meat processing equipment market in North America. In addition, consumer awareness regarding expediency products is one of the most significant factors contributing to the growth of meat processing industry, mainly in developing economies. Moreover, rising consumption of fast packaged food products is likely to have a positive impact, thereby expanding the market growth.
Rising production of meat such as pork, veal, and beef, growing consumer preferences for protein rich foods, and increase in number of population coupled with disposable income is likely to drive the market for meat processing equipment in North America. Additionally, incremental growth of distribution channels by small supplier will expand the market, thereby rising demand for meat processing on a global scale.
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List of Companies Covered:
Key Industry Development:
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
ATTRIBUTE | DETAILS |
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Research Period | 2017-2027 |
Base Year | 2018 |
Forecast Period | 2019-2027 |
Historical Year | 2017 |
Unit | USD Billion |
Segmentation |
Equipment Type (2017–2027; US$ Bn) |
Meat Type (2017–2027; US$ Bn) |
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Mode of Operation (2017–2027; US$ Bn) |
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Applications (2017–2027; US$ Bn) |
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Geography (2017–2027; US$ Bn) |
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that give a better market understanding of the overall meat processing equipment market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.