Meat Processing Equipment Market Driven by Growing Demand for Packaged Processed Meat Products
The global meat processing equipment market size was valued at $12.55 billion in 2018, and is anticipated to grow with a CAGR of 7%, throughout the forecast period 2019-2025.
(IINews) - Rising awareness about animal-based protein-rich food products and growing demand for processed and convenience food items have boosted the demand for the food processing equipment. Livestock supports approximately 1.3 billion people and contribute 40% of the global value of agricultural output and supports the livelihoods with food security concerns. Processed meat has several advantages such as increased taste, low risk of meat-borne diseases, and a high degree of portability. Growing concern about health leading to daily intake of high-protein and zero-fat diets along with changing lifestyle of the population across the globe are the primary reasons for increasing demand for processed meat products, which in turn, increases the demand for meat processing equipment globally. This equipment enables preservation, toxin removal, and increases meat consistency. An upsurge in automation of processing equipment and high demand for packaged processed meat products are some influencing factors for the growth of the meat processing equipment market.
The global meat processing equipment market size was valued at $12.55 billion in 2018, and is anticipated to grow with a CAGR of 7%, throughout the forecast period 2019-2025.
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Increased consumption of processed and packaged meat products, due to surge in working women population and rise in disposable income of middle-class customers are key factors triggering the growth of the meat processing equipment market share. Nowadays, consumption of processed meat products is increasing with rising awareness about their nutrient content. These products are rich in proteins, vitamins, minerals, and omega-3 fatty acids. Intake of meat products helps people in weight management, brain growth, and development, and also helps in preventing Alzheimer’s disease. Owing to technological advancements, food processors are equipped with in-built sensors to detect foreign materials and to improve product quality, which in turn, spur the growth in the meat processing equipment market size. Also, automated food processing equipment has experienced an increase in demand due to growing focus on cost reduction and production efficiency. According to the demand of customers, meat processing equipment such as meat grinders are used to convert raw meat ingredients into ready-to-eat meat forms. With these proliferated benefits of processed meat and its processing equipment, the meat processing equipment market is dominating in the global marketplace.
Market players in the food processing industry are adopting novel food processing technologies to minimize adverse effects of thermal processing. Non-thermal processing technologies, such as pulsed electric field (PEF), high-pressure processing (HPP), and irradiation are rapidly gaining popularity among manufacturers, as processing occurs at low temperature, which helps in reducing the impact of heat on taste and nutrition. Along with that, improved packaging strategies, introduction of several ready-to-eat food products, and increasing number of slaughterhouses are expected to benefit the meat processing equipment market. A rise in demand for processed meat products from fine-dining restaurants and hotels are also anticipated to boost the demand for meat items, which in turn, spur the demand for meat processing equipment. In addition, processed meats are also available as ready-to-eat food items in the market to save the cooking time. As a result, these endeavors collectively are surging the demand of the meat processing equipment.
North America Holding Major Share of the Meat Processing Equipment Market
North America generated 32% of the meat processing equipment market global revenue in 2018. Change in consumer preferences, development of new meat products, and increasing demand for beef and pork items will drive the growth of this market in North America. In the U.S., each citizen is eating an average of about 97 kg meat annually. Also, increasing population, and rise in per capita consumption of meat in this region, support the growth of the meat processing equipment market. In addition, the recent lift on ban of slaughtering and a rapid rise in consumption of fast food through retail chains in the U.S. is expected to amplify the meat processing equipment market demand in North America.
Fresh Processed Meat Emerged As the Fastest-Growing Segment in the Global Meat Processing Equipment Market
Fresh processed meat is expected to create most lucrative opportunities the meat processing equipment market, and is projected to grow at a CAGR of 23.9% through to 2025. Fresh processed meat is available with variable fat content, which is composed of finely comminuted, minced or sliced muscle meat. Fresh processed meat products are treated with salt and are processed by adding non-meat ingredients in smaller quantities for improving binding and flavoring properties without any prior heat-treatment process. The growing demand for fresh processed meat across the globe is due to rapid urbanization, high consumption of fast food among millennial population, and extensive use of meat as a staple food in the Western countries such as Canada, France, and Spain. Moreover, increasing use of fresh processed meat in sausages, and kebabs will boost the market growth in North America region.
The Major Players in the Meat Processing Equipment Market:
Prominent players in the meat processing equipment market include Bettcher Industries, Inc., Equipamientos Carnicos, GEA Group AG, Heat and Control, Inc., Illinois Tool Works Inc., JBT Corporation, Key Technology Inc., Marel, Manitowoc, The Middleby Corporation, and S.L. (Mainca).
Mergers and acquisitions are key strategies adopted by players to stay ahead of their competitors. For instance, Bettcher Industries, Inc., an American-based manufacturer of cutting tools used in food processing operations has announced its acquisition with Cantrell, an American-based Evisceration and Picking Equipment Company on March 25, 2019. With this acquisition, Bettcher Industries has enhanced its product portfolio around the globe.
Marel is an Iceland-based food processing company has announced an acquisition with MAJA, a German-based food processing equipment manufacturer on July 27, 2018. With this acquisition, Marel has strengthened its advanced food processing and standard equipment product base in the global market. Such mergers and acquisitions aid the market players to expand their geographical boundaries and accentuate their footprint into the global meat processing equipment market.
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