LONDON, Sept. 13, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Meat And Poultry Processing Equipment Global Market Report 2023, the global meat and poultry processing equipment market is heating up, with expectations soaring from $10.75 billion in 2022 to an impressive $11.79 billion in 2023, driven by a robust compound annual growth rate (CAGR) of 9.7%. Looking ahead, the industry envisions reaching a substantial $16.38 billion by 2027, maintaining a strong CAGR of 8.6%. This remarkable growth is fueled by the escalating consumption of processed meat and poultry products, reshaping the food processing landscape.
Driving Force: The Rise of Processed Meat and Poultry
The growth of the meat and poultry processing equipment market is intrinsically linked to the surging demand for processed meat and poultry products. Processed meat and poultry consumption entails the enjoyment of goods that have undergone additional processing or preparation steps, such as grinding, ingredient addition, or heating, which transform appearance, texture, or flavor. Meat and poultry processing equipment plays a pivotal role in the production of processed meat and related products, facilitating tasks like slicing, chilling, and dicing. As a result, the increasing consumption of processed meat and poultry drives the demand for meat and poultry processing equipment. In 2020, global meat production rose to 337.18 million tonnes from 335.46 million tonnes in 2019, as reported by Our World in Data, highlighting this trend.
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Innovation Ignites Market Players
Innovation takes center stage in the meat and poultry processing equipment market, with major companies dedicated to developing cutting-edge products featuring advanced technologies. For instance, in May 2022, GEA Group AG, a German-based food processing technology company, unveiled the new CutMaster Generation 3, catering to the manufacturing of various sausages, chicken, fish, plant-based, vegan, vegetarian items, and processed cheese. This product boasts customer-driven technology upgrades, including an integrated AC drive for enhanced flexibility and maintenance-free operation, relying on state-of-the-art technology.
Regional Dominance: North America Takes the Lead
North America emerged as the dominant region in the meat and poultry processing equipment market in 2022, underscoring the region's commitment to food processing innovation. The global market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, and the Middle East and Africa.
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Meat And Poultry Processing Equipment Market Segmentation
The global meat and poultry processing equipment market offers a diverse menu of opportunities, with key segments including:
- By Equipment Type:
- Killing And Defeathering
- Cut Up
- Evisceration
- Marination And Tumbling
- Deboning And Skinning
- Other Equipment Types
- By Processing Type:
- Raw-Cooked Meat
- Freshly Processed Meat
- Precooked, Cured Meat
- Raw Fermented Meat
- Dried Meat
- Other Processing Types
- By Meat Type:
- Cattle
- Chicken
- Duck
- Pig
- Rabbit
- Sheep
- Turkey
Meat And Poultry Processing Equipment Global Market Report 2023 by The Business Research Company provides insights on the meat and poultry processing equipment market size, meat and poultry processing equipment market segments, meat and poultry processing equipment market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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