Rising consumption of processed meat is increasing the demand for meat processing equipment. The global meat processing equipment market size is projected to grow from USD 6. 8 billion in 2019 to USD 9.
New York, Feb. 07, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Meat Processing Equipment Market by Type, Product Type, Meat Type, Mode of Operation, & Region - Global Forecast to 2026" - https://www.reportlinker.com/p04397169/?utm_source=GNW
7 billion by 2026, recording a compound annual growth rate (CAGR) of 5.2% during the forecast period. Some of the major factors driving the growth of the meat processing equipment market include premiumization in meat products, increasing food safety requirements for trade, rising demand for convenience meat products, and technological innovation in meat processing equipment.
The grinding equipment segment is projected to dominate the meat processing equipment market throughout the forecast period.
The grinding equipment segment is estimated to dominate the meat processing equipment market, by type, in 2019, due to a greater application of grinders to process a wide range of products, such as minced meat, sausages, hamburgers, and other products.Furthermore, the easy handling and cleaning of the grinding equipment make it preferred by both small and large meat processors.
However, due to its higher prices, as compared to other equipment types, such as those used for slicing and cutting, its reach is largely restricted to large meat processing companies.
The automatic segment is projected to grow at the highest growth rate during the forecast period.
The automatic segment is projected to grow at the highest growth rate, as the adoption of automatic meat processing equipment results in reduced processing time and increases process efficiency & precision.Further, the adoption of automatic equipment aids meat processors in identifying problems or defects during each stage of meat processing, resulting in the lowered number of defected meat products.
However, the higher setup cost of automatic meat processing equipment in comparison to the other modes of operation is expected to hamper the growth of the automatic equipment segment.
Asia Pacific is projected to record the highest growth during the forecast period.
The Asia Pacific region is projected to record the highest growth during the forecast period.The growing demand for processed meat, such as meat cuts, steaks, and ready-to-cook meat, due to the changing lifestyles and expansion of meat processing capabilities are the major factors driving the growth of the meat processing equipment market in the region.
Also, foreign investments in meat processing in countries, such as Vietnam, China, and Indonesia, are expected to boost the demand for meat processing equipment.
In-depth interviews were conducted with CXOs, managers, and key executives from various key organizations operating in the meat processing equipment market.
Break-up of Primaries:
• By Company Type: Tier 1 – 30%, Tier 2 – 45%, and Tier 3 – 25%
• By Designation: Managers – 55%, CXOs – 25%, and Executives – 20%
• By Region/Country: Europe – 50%, Asia Pacific – 20%, North America – 20%, and ROW* – 10%
*RoW includes South America and the Middle East & Africa.
The meat processing equipment market comprises major players, which include GEA Group (Germany), JBT Corporation (US), Marel (Iceland), Illinois Tools Work (US), The Middleby Corporation (US), Bettcher Industries (US), Equipamientos Carnicos (Spain), Biro Manufacturing Company (US), Braher (Spain), RZPO (Russia), Bizerba (Germany), Riopel Industries (Canada), Minerva Omega Group (Italy), Risco (Italy), Millard Manufacturing Corporation (US), Apache Stainless Equipment Corporation (US), Gee Gee Foods & Packaging (India), PSS Svidnik (Presovsky), Ross Industries, Inc. (US), and Metalbud Nowicki (Poland).
The study covers the meat processing equipment market across various segments.It aims at estimating the market size and its growth potential across different segments on the basis of type, product type, meat type, mode of operation, and region.
The study also includes an in-depth competitive analysis of key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
The report will help market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall meat processing equipment market segments and subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
The report will also help the stakeholders to understand the pulse of the market and will provide them with information on key market drivers, restraints, challenges, and opportunities.
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