During the projected period (2023-2033), the global meat processing equipment market is expected to grow at a CAGR of 5.2%. The meat processing equipment market is projected to be valued at US$ 8,467.0 Million by 2033 and is likely to reach US$ 5,100.0 Million in 2023.
Increasing demand for plant-based meat owing to the rapid adoption of veganism in both developed and developing countries is expected to foster sales of meat processing equipment in the next ten years. Licious, in October 2023, entered the plant-based meat segment in India by unveiling Un Crave, its first portfolio brand. It contains protein-rich vegetarian seekh kebabs. The ready-to-cook products are free of monosodium glutamate (MSG), trans fat, and artificial preservatives.
In December 2021, ITC Ltd. declared that it will soon introduce a range of plant-based meat products in anticipation of the surging demand for vegan meals and meat substitutes in India. The company also aims to launch these products by keeping in mind rising consumer awareness about the environment, animal welfare, and health.
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Key companies are engaging in essential acquisitions and mergers for expanding their production volume and broadening their distribution channels. Apart from that, increasing demand for protein-rich food items like meat with rising awareness about the benefits of consuming such food items is expected to boost the global meat processing equipment market in the assessment period.
Key Takeaways: Meat Processing Equipment Market
- The meat processing equipment market in the U.S. is set to exhibit growth at a CAGR of 68% during the forecast period.
- The global meat processing equipment market exhibited considerable growth at a CAGR of 3% in the historical period from 2017 to 2021.
- The Europe meat processing equipment market is expected to grow at 40% CAGR between 2023 and 2033.
- The China meat processing equipment market is projected to grow at a CAGR of around 32% over the next ten years.
- The North America meat processing equipment market is expected to register a 38% CAGR between 2023 and 2033.
“Premiumization of meat products, especially in developed countries, is expected to propel the global meat processing equipment market in the evaluation period. Many start-up firms in emerging economies like India and China are coming up with unique meat products to expand their client base,” says a lead analyst at Future Market Insights.
Competitive Landscape: Meat Processing Equipment Market
Top 5 manufacturers of meat processing equipment are Duravant, Prime Equipment Group, Inc., BAADER, BANSS, and Stephan Machinery GmbH. Together, these companies are currently holding 20% to 30% of the global meat processing equipment market share.
Companies are using meat processing equipment in the poultry industry and food products to ensure food safety. Processed meat has many benefits such as better taste, low chance of meat-borne illnesses, better life expectancy, and a high measure of versatility. With increasing research & development and technological advancements, various companies are finding new techniques to effectively use meat processing equipment to their maximum potential.
Meat processing equipment is used by companies like HOBERT because of its easy to use nature. Demand for butchering gear, including meat saws, processors, blenders, tenderizers, choppers, and embellishments made for long haul solidness is set to surge among industries.
Get More Valuable Insights on the Meat Processing Equipment Market
Future Market Insights, in its new offering, provides an unbiased analysis of meat processing equipment presenting historical demand data (2017-2021) and forecast statistics for the period from 2023-2033.
The study provides valuable insight on the meat processing equipment market based on by product type (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) and regions.
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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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