The meat and poultry processing equipment market is estimated to procure steady growth driven by rising demand for packaged meat in developing countries. Processed meat stops the growth of microbes and has a high demand across hotels and restaurants. Growing consumer awareness regarding the benefits of dried meat like its ability to retain protein content and have an improve shelf life is driving the adoption of dried meat processing equipment.
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Rise in working and urban population could propel the demand for processed meat as it helps save food preparation time. Meat and poultry processing equipment find robust application in tumbling and marinating. The market for these specific equipment grew over USD 1.6 billion in 2020 given to the surge in consumer need for tender meat that offers enhanced taste.
Given to robust demand, meat and poultry processing equipment manufacturers are introducing new products. For example, in 2020, Marel launched its new ACM-NT Compact, automated cut-up solution for poultry processing, a custom-designed system which can make high-grade chicken part for customers. Driven by such innovations, Global Market Insights, Inc., estimates that the meat & poultry processing equipment market could grow over USD 22.3 billion by 2027.
As per meat type, the beef meat segment is anticipated to register over USD 6.4 billion in the upcoming years owing to notable economic progress in developing nations and rising urbanization. Argentina and Brazil could witness a surge in the demand for beef products. Similarly, equipment for chicken meat type is expected to record a CAGR of above 7% on account of high demand for ready to eat meat products among young generation.
Geographically speaking, the U.S, Europe and Russia are leading the markets for meat and poultry processing equipment. The U.S was the largest beef consumer in 2018 and is likely to grow substantially owing to consumer demand for red meat. The demand for dairy items such as milk and cheese could also fuel beef meat business in the region.
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Meanwhile, Europe meat and poultry processing equipment market is projected to record over 4% gains over the forecast timeline owing to growing consumption of meat and packaged food products. The demand for meat has increased worldwide and has led to meat export from the region. Exported meat is required to be processed.
In Russia, the government has set a target of achieving self-sufficiency that has led to investments in new automated systems and technologies, which could drive the need for processing equipment. High disposable income and changing lifestyle is contributing towards regional industry growth.
On a global scale, the meat and poultry processing equipment market consists of firms such as The Middleby Corp, Hamilton Beach Brands Holding Co., Marel Group, Tetra Laval International SA, Tomra Systems ASA, Bettcher Industries Inc., Heat and Control Inc., BAYLE SA, Foodmate US Inc. These companies are focusing on different business strategies including new technology and product development, and partnerships, among others.
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