Friday, 10 February 2023 07:00 AM
Company Update
NEWARK, DE / ACCESSWIRE / February 10, 2023 / The global meat processing equipment market is expected to expand at a moderate CAGR of 5.2% from 2023 to 2033. The target market is set to reach an estimated US$ 5,100.0 million in 2023 and scale up to US$ 8,467.0 million in 2033. This growth can be attributed to heightened demand for packaged food and processed meat items. A growing concern for food safety will also aid the growth of the meat processing equipment market during the forecast period.
Meat processing equipment assists with the removal of toxins and enhances meat consistency. These machines cater to the meat-based culture of several countries as they meet the rising demand for packaged food and processed meat. Further, the shifts in consumer tastes, preferences, and lifestyles owing to the influence of foreign cultures, rapid urbanization, and others will propel the demand for meat-based products which, in turn, fuel the growth of the meat processing equipment market in the upcoming years.
The elevated demand for processed meat with an extended shelf life and greater durability is projected to augment the sales of meat processing equipment in the global marketplace. The prevailing trend of premiumization will also have a positive impact on the target market. The premiumization of meat in developed nations will encourage lucrative opportunities for the market.
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In addition to this, the popularity of vegan and vegetarian dishes will increase the adoption of plant-based meat products which will spur the demand for the meat processing equipment market over the next couple of years. Moreover, numerous manufacturers are concentrating on introducing upgraded and innovative meat processing equipment that will meet the needs of consumers. The emergence of technologically advanced and the use of automation with the help of an inbuilt sensor framework is anticipated to amplify the prospects for the market.
During the forecast period, increasing concerns for food safety will also have a positive impact on the sales of the meat processing equipment market. Other factors like increasing disposable income, swift urbanization, and the fast-paced lifestyle of consumers will also drive the meat processing equipment market during the forecast period.
Key Takeaways:
- High costs of this machinery may deter the growth of the meat processing equipment market between 2023 and 2033.
- Demand for advanced meat-cutting machines will drive the target market growth in the US which will account for about 68% of the global market share.
- The U.K meat processing equipment market will observe substantial growth due to the rising production of beef.
- India's meat processing equipment market will register steady growth owing to increasing demand for ready-to-eat food products.
- By product type, the grinding equipment segement will dominate the global meat processing equipment market.
Competitive Landscape
GEA Group, BT Corporation, Marel, Illinois Tools Work, The Middleby Corporation, Bettcher Industries, Equipamientos Carnicos, Biro Manufacturing Company, Braher, RZPO, Bizerba, and Riopel Industries, among others are some of the key players in the meat processing equipment market profiled in the full version of the report.
Prominent market players are focusing on introducing and developing new products. These businesses also adopt various marketing strategies including partnerships, collaborations, expansions, mergers, and acquisitions.
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More Insights into Meat Processing Equipment Market
In its latest report, FMI offers an unbiased analysis of the global meat processing equipment market, providing historical data from 2017 to 2021 and forecast statistics for 2023 to 2033. To understand the global market potential, growth, and scope, the market is segmented on the basis of product type, application, meat type, automation, and region.
According to the latest FMI reports, based on segmentation, the grinding equipment product type will register high demand because of its extensive application in processing various products like hamburgers, sausages, and minced meat. Thus, this segment will prove to be profitable and substantially contribute to the overall market growth.
Based on region, the meat processing equipment market in the US will present impressive growth. The target market in this region will account for 68% of the overall market share. The rapid adoption of automation by meat processing businesses, high demand for processed meat, and increasing demand for advanced meat processing equipment will drive the growth of the market in the US. The U.K, and India are two other nations with promising growth potential in the meat processing equipment market between 2023 and 2033.
Meat Processing Equipment Market Outlook by Category
By Product:
- Cutting Equipment
- Blending Equipment
- Tenderizing Equipment
- Filling Equipment
- Slicing Equipment
- Grinding Equipment
- Smoking Equipment
- Massaging Equipment
- Other Types (Brine Injectors, Emulsifying Machines, and Ice Flakers)
By Application:
- Fresh Processed Meat
- Raw Cooked Meat
- Precooked Meat
- Raw Fermented Sausage
- Cured Meat
- Dried Meat
- Catering
- Meat Shop
- Hotel
- Restaurant
- Meat Processing Unit
- Poultry Industries
- Further Processing
- Other (Sun-Drying Meat, Mincing, and Grinding Meat)
By Meat Type:
- Processed Pork
- Processed Beef
- Processed Mutton
- Others (Horses, rabbits, Camels, and Yak)
By Automation:
- Automatic
- Semi-Automatic
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- MEA
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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)
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