Dublin, May 10, 2024 (GLOBE NEWSWIRE) -- The "Meat and Poultry Processing Equipment Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global meat and poultry processing equipment market has grown strongly in recent years. It will grow from $11.72 billion in 2023 to $12.82 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The expansion observed in the historical period can be attributed to factors such as a focus on sustainability and efficiency in meat and poultry processing, the impact of the industrial revolution and mechanization, the implementation of food safety regulations, the effects of growing urbanization and increased demand, and the emphasis on quality control and standardization in the industry.
The meat and poultry processing equipment market is expected to see strong growth in the next few years. It will grow to $18.16 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. The anticipated growth in the forecast period can be attributed to a heightened focus on food safety and hygiene, the increasing demand for processed foods, the adoption of sustainable processing practices, customization, and flexibility in production, as well as market expansion in developing regions. Major trends expected in the forecast period include the integration of automation and robotics, enhanced food safety measures, a greater emphasis on hygienic design, adaptation to changing consumer demands, and an ongoing commitment to efficiency and sustainability in the meat and poultry processing industry.
The anticipated increase in the consumption of processed meat and poultry products is set to drive the growth of the meat and poultry processing equipment market. Notably, the global meat production rose from 337.18 million tons in 2020 to 339 million tons in 2021, according to the Food and Agriculture Organization. This rise in consumption underscores the heightened demand for processed meat and poultry, consequently fueling the meat and poultry processing equipment market.
The increasing demand for ready-to-eat (RTE) foods is poised to contribute to the growth of the meat and poultry processing equipment market. For instance, the retail sales of packaged foods in Japan are predicted to reach $235.9 billion by 2026, reflecting a 9.1% increase from 2022, as per the Food Export Association of the Midwest USA. This surge in the demand for RTE foods is a significant driver for the meat and poultry processing equipment market.
Technological advancements emerge as a prominent trend in the meat and poultry processing equipment market. Key industry players are concentrating on developing innovative products equipped with advanced technologies to strengthen their market position. GEA Group AG, a Germany-based food processing technology company, introduced the CutMaster Generation 3 in May 2022. This product incorporates customer-driven technological upgrades, featuring an integrated AC drive for enhanced flexibility, easy power supply, and maintenance-free operation.
Major companies in the meat and poultry processing equipment market are also focusing on introducing innovative products such as physical contaminant detection solutions. These solutions employ various technologies to identify and remove foreign objects or contaminants, ensuring product safety and quality. Eagle Product Inspection, a US-based provider of x-ray inspection technology, launched MAXIMIZER RMI in August 2023. This automated reject management system is designed to enhance the quality and safety of chicken products by providing bone and metal detection in poultry operations.
In June 2022, Marel, an Iceland-based multinational food processing company, acquired Wenger Manufacturing LLC for $540 million. This strategic acquisition aims to help Marel meet the growing consumer demand for high-quality and sustainably produced food and feed. Wenger Manufacturing LLC specializes in pet food, plant-based proteins, and aquafeed processing solutions.
North America was the largest region in the meat and poultry equipment market in 2023. The regions covered in the meat and poultry processing equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the meat and poultry processing equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Scope
Markets Covered:
1) By Equipment Type: Killing and Defeathering; Cut Up; Evisceration; Marination and Tumbling; Deboning and Skinning; Other Equipment Type
2) By Processing Type: Raw-Cooked Meat; Freshly processed Meat; Precooked; Cured Meat; Raw Fermented Meat; Dried Meat; Other Processing Types
3) By Meat Type: Cattle; Chicken; Duck; Pig; Rabbit; Sheep; Turkey
Key Companies Mentioned: Baader Food Processing Machinery; Bayle SA; Bettcher Industries Inc.; Brower Equipment; C.G. Manufacturing & Distribution Inc.
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
A selection of companies mentioned in this report includes, but is not limited to:
- Baader Food Processing Machinery
- Bayle SA
- Bettcher Industries Inc.
- Brower Equipment
- C.G.Manufacturing & Distribution Inc.
- Berkshire Hathaway Inc.
- GEA Group AG
- Heat and Control Inc.
- Meyn Food Processing Technology B.V.
- Cantrell Gainco Group Inc.
- Equipamientos Carnicos S.L.
- Key Technology Inc.
- The Middleby Corporation
- Formax, a Provisur Technologies Company
- ULMA Packaging
- John Bean Technologies Corporation
- Duravant LLC
- Tetra Laval International SA.
- TOMRA System ASA
- JBT Corporation
- Weber Maschinenbau GmbH
- Prime Equipment Group Inc.
- CG Manufacturing and Distribution Systems Inc.
- Welbilt Inc.
- CTB Inc.
- Illinois Tool Works Inc.
- Cabinplant A/S
- Cargill Meat Solutions
- CPM Wolverine Proctor LLC
- FPS Food Process Solutions
For more information about this report visit https://www.researchandmarkets.com/r/6pve0u
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