Global Meat Processing Equipment Market to Reach Valuation of US$ 2.4 Bn by 2027: Industry Probe

February 13, 2020, Domain: Industrial Goods Machinery & Services

According to a new market report published by Industry Probe (www.industryprobe.com) titled ‘Meat Processing Equipment Market (Equipment Type: Cutting/Size Reduction, Mixing/Blending, Cooling, Slicing, Marinating Equipment, Cooking/Heating, and Others; Meat: Beef, Pork, Mutton, and Others; and End-Use: Commercial and Industrial) – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027’ the global meat processing equipment market is expected to expand at a CAGR of 3.5% from 2019 to 2027 and reach US$ 2.4 Bn by 2027.

Overview

  • With the continuous development of the meat processing technology and mature applications in the commercial and industrial sector, meat processing companies and various commercial verticals such as restaurants, hotels, supermarkets, etc., are investing in meat processing equipment

  • Globally, the meat processing sector is expanding at an exponential rate. Emerging economies in such as India, China, etc. are investing substantially in meat processing technology, which would create good growth opportunities for the manufacturers of meat processing equipment during the forecast period.

Driving Factors

  • The introduction of new materials, support systems, and advanced equipment has supported meat processors in meeting increasingly stricter market requirements. Meat processing companies are trying to reduce any damage to their brand and loss of business due to costly product recalls. Meat processors could end up losing business to competitors that demonstrate reliable traceability to ensure food safety or can be shut out of lucrative new markets without an effective traceability system. Due to the abovementioned factors, meat processing companies are replacing old equipment with new equipment, which, in turn, is boosting the market.

  • High-end automation and robotics is making meat processing operations intelligently profitable. Globally, companies in meat processing businesses and independent manufacturers of processed meat are adopting fixed automation and robotic intelligence to avoid production stagnancy from the incidence of workforce fatigue and retirement. For instance, robotic cutters can easily understand demarcations and are programmed analogously. Such augmentation will boost the efficiency of mass-scale cutting operations and significantly improve production compared to conventional vision processing systems, which are limited to external visualization constraints. Such adoption of various technologically advanced equipment is anticipated to propel market growth.

Key Challenges

  • In addition to caring about their own health and animal welfare, increased environmental awareness among Europeans is one of the major reasons for declining meat product consumption. Meat processing is responsible for a significant proportion of CO2 emissions, which in turn leads to climate change. About 18% of harmful greenhouse gases come from animal agriculture. According to research, the three largest meat processing companies worldwide caused more CO2 emissions than all of France. Slaughtering cattle is also very soil and water-intensive and uses more resources than the production of plant foods. As the European population is already experiencing the consequences of climate change, the demand for meat products is expected to be hampered during the forecast period, which, in turn, would restrain the meat processing equipment market growth.

Market Preference

  • Europe held a major share of the global meat processing equipment market in 2018, followed by the Asia Pacific and North America. The Asia Pacific market is expected to offer growth opportunities to manufacturers of meat processing equipment during the forecast period.

  • Demand for meat processors in Western Europe is likely to offer growth opportunities for the manufactures of meat processing equipment. The meat processing industry in Europe continues to remain buoyant in spite of the broader pressures in several leading economies. Europe remains a lucrative market for meat processing machinery production and sales, and numerous leading players have a strong presence in the region.

  • Increasing demand for easy-to-cook meat products is creating sustained growth opportunities for meat processing equipment manufacturers. Owing to the surging demand for quick meat products, especially in countries such as Germany, France, and Spain, meat processing equipment manufacturers are focusing on developing advanced meat processing equipment in these countries.

  • In North America, industrial meat processing plant sizes increased sharply in the past few years, and mergers have led to fewer but larger companies. In the region, changing processing plant technologies have facilitated the growth of the market. The shift towards automation and intelligent technology is projected to drive demand for innovative meat processing equipment in North America. In order to improve product quality, the use of advanced technology options such as in-built sensors in equipment is anticipated to further boost the meat processing equipment market.

  • The Asia Pacific is a fast-growing region economically. In addition, with China and Japan, the region has some of the largest economies, including India, South Korea, Indonesia, and Vietnam, among others. Global food processing companies are investing heavily in the region due to which the meat processing equipment market in the Asia Pacific is projected to grow rapidly during the forecast period.

Competition Landscape

  • The global meat processing equipment market is dominated by several players who are focused on the development of new products to cater to changing consumer preferences

  • The report includes the below-mentioned pointers of major players operating in the global meat processing equipment market:

    • Company Overview

    • Product Profiling

    • Market Share Analysis (2018)

    • Business Strategies/Recent Developments

      • Technological advancements

      • Key Mergers & acquisitions

      • Expansion strategies

    • Company Financials

Major Players Covered under the Scope:

  • Marel

  • JBT

  • Bettcher Industries, Inc.

  • Illinois Tool Works Inc.

  • Minerva Omega group s.r.l.

  • GEA Group Aktiengesellschaft

  • The Middleby Corporation

  • Scott Technology Limited

  • SELO

  • Bizerba SE & Co. KG

Market Segmentation/Research Scope

Meat Processing Equipment Market – Global Industry Dynamics 2018-19, Trends and Forecast, 2020–2027

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