NEWARK, Del, Jan. 06, 2023 (GLOBE NEWSWIRE) -- According to a recent FMI report, the butcher equipment market is anticipated to cross a valuation of US$ 4,768.3 Mn in 2033. It is estimated to showcase growth at a CAGR of 4.4% between 2023 and 2033.
Increasing investments by key players and government agencies in the automation of meat processing machinery in various countries such as the U.S., Germany, the U.K., and India are expected to drive the need for advanced butcher equipment. Strict norms associated with transport, trading, and selling of meat under controlled conditions to prevent spoilage is another factor boosting the market.
Moreover, the urgent need to maintain nutritional values in meat and meat products is projected to aid growth in the market. Rising number of research & development (R&D) activities to come up with innovative technologies such as integration of equipment for grinding, blending, and slicing are set to push growth.
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Companies are nowadays developing only one machine for operating multiple tasks at once to maintain hygiene levels and save overall transfer costs. Besides, cutting-edge butcher equipment is increasingly finding applications in several fast-food outlets across the globe to cater to rising consumer demand.
Renowned fast-food outlets, including Taco Bell, KFC, McDonald’s Corporation, and Dominoes are expanding their businesses to various countries worldwide, which is further pushing the need for new equipment. Governments of various countries are also implementing strict regulations to maintain the proper transportation of human and animal food.
Key Takeaways from the Butcher Equipment Market Study:
- The global butcher equipment market exhibited steady growth at a CAGR of 3.2% during the historical period (2018-2022).
- The butcher equipment market in the U.S. is set to be worth US$ 801 Mn and account for a share of nearly 68% in North America during the forecast period.
- The U.K. butcher equipment market is anticipated to create an absolute dollar opportunity of US$ 218.2 Mn during the evaluation period.
- The China butcher equipment market is set to be worth around US$ 178.6 Mn and generate 32% of share in Asia Pacific in the next ten years.
- The global butcher equipment market is expected to rise at a CAGR 4.4% in the forecast period.
“Key players are launching state-of-the-art food processing techniques to govern smooth transportation of semi-processed and processed food items, including meat. It is expected to lead to the development of unique butcher equipment, thereby driving the market,” says a lead analyst at Future Market Insights.
Competitive Landscape: Butcher Equipment Market
Key players present in the global butcher equipment market include GEA Group, JBT Corporation, Marel, Illinois Tool Works, and Bettcher Industries. North America currently holds the largest market share, and this region is expected to continue to expand during the projection period.
This can be mainly attributed to the region's growing population and rising disposable income levels. Furthermore, the North America butcher equipment market is expected to increase in the next ten years due to the presence of a favorable legal and regulatory environment.
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Get More Valuable Insights into Butcher Equipment Market
FMI, in its new offering, provides an unbiased analysis of the butcher equipment market presenting historical demand data (2018-2022) and forecast statistics for the period from (2023-2033). The study divulges compelling insights on the demand for butcher equipment based on product type (slicing equipment, smoking equipment, tenderizing equipment, massaging equipment, filing equipment, grinding equipment, cutting equipment), application (fresh processed meat, raw cooked meat, pre-cooked meat, raw fermented meat, cured meat, dried meat) across seven major regions.
Butcher Equipment Market Outlook by Category
By Product Type:
- Cutting Equipment
- Grinding Equipment
- Slicing Equipment
- Smoking Equipment
- Tenderizing Equipment
- Massaging Equipment
- Filing Equipment
By Application:
- Fresh Processed Meat
- Raw Cooked Meat
- Pre-cooked Meat
- Raw Fermented Meat
- Cured Meat
- Dried Meat
By Region:
- North America
- Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Product launches & Recent Developments
3.4. Product Life Cycle Analysis
3.5. Value Chain Analysis
3.5.1. Supply Side Participants and their Roles
3.5.1.1. Producers
3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)
3.5.1.3. Wholesalers and Distributors
3.5.2. % of Operating Margin Analysis
3.5.3. List of Raw Material Suppliers
3.5.4. List of Existing and Potential Buyer’s
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About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
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