Asia-Pacific Meat Processing Equipment Market Leading Players are Yanagiya Machinery Co., Ltd., Zigma Machinery & Equipments Solutions, Gold Peg International Pty Ltd, Henan Welly Machinery Equipment Co., Ltd., Shunling Refrigeration Kitchenware Equipment

According to a new report published by Allied Market Research, titled, Asia-Pacific Meat Processing Equipment Market by Meat Type, Type, and Application: Asia-Pacific Opportunity Analysis and Industry Forecast, 2017-2023, the Asia-Pacific meat processing equipment market size was $2,531.9 million in 2016 and is projected to reach $4,541.9 million by 2023, registering a CAGR of 8.7% from 2017 to 2023. In 2016, the cutting segment accounted for more than one-fourth share of the Asia-Pacific market in terms of value.

The leading players in the global meat processing equipment market have focused on acquisitions, collaborations, and expansions as their key strategies to gain a significant share in the market. The key players profiled in the report include GEA Group AG, JBT Corporation, Key Technology, Inc., Marel, Heat and Control, Inc., Illinois Tool Works, Inc., Manitowoc, The Middleby Corporation, Bettcher Industries, Inc., and Equipamientos Crnicos, S.L. (Mainca). Other players profiled in this report include Yanagiya Machinery Co., Ltd., Gold Peg International, Henan Welly Machinery Equipment Co., Ltd., Zigma International, and Shunling Refrigeration Kitchenware Equipment.

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Meat is a source of animal protein, consumed as a part of kitchen-style prepared food or as processed meat products. Processed meat products have been gaining popularity in the Asia-Pacific as they are considered nutritionally rich and shelf-stable. Meat processing equipment are tools that facilitate cutting, injecting brine, stuffing, cooking, and slicing of meat done by processors and butchers. These exist in a variety of designs, sizes, and configurations, usually operating under fairly simple principles. Currently, modern equipment encompasses multiple processing lines, capable of accommodating continuous and automated operations.

Increased income level paired with the demand for a more diversified diet has encouraged consumers to spend more on processed meat and seafood products, in particular, those of premium quality and higher health value, which boosts the sales of the meat processing equipment. The market in the Asia-Pacific region has been undergoing transition from traditional homemade cooked meals to packaged food, owing to increase in women workforce outside the house. Growth in retail chains in India, China, Thailand, Vietnam, and others leads to huge availability of beef, pork, poultry, seafood, and other meat products, thereby driving the market growth.

In 2016, meat processing equipment for the fresh processed meat segment accounted for the highest market share in the Asia-Pacific region and is anticipated to grow at a significant CAGR of 9.3% during the forecast period. Fresh processed meats are high in macronutrients and easily available for consumption, unlike the conventional meat, which requires time and effort to be fit for consumption. Growing consumption of fresh processed meat, owing to the trend of consuming high protein diet, drives the fresh processed meat market. In 2016, the cutting equipment segment accounted for the highest market share in the Asia-Pacific meat processing equipment market. The primary objective of the cutting operation is reduction of the meat size. Cutting is often the first operation to be employed in meat processing to separate essential meat & fat portions of the carcass from the non-essential ones. Moreover, rise in the affluent population coupled with the emergence of fast-paced life supplements the growth of the processed meat market. However, the high cost of meat processing equipment and government restrictions and regulations on the sale and purchase of cattle for slaughter are expected to hamper the growth during the forecast period.

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Key Findings of the Asia-Pacific Meat Processing Equipment Market:

• The processed pork segment accounted for more than one-fourth share in the Asia-Pacific market and is expected to grow at a CAGR of 8.9% during the forecast period.

• China is anticipated to continue to lead the market throughout 2023, growing at the highest CAGR of 10.5%.

• The freshly processed meat segment is estimated to account for approximately one-fourth of the Asia-Pacific market by 2023.

• India is projected to be one of the largest growth areas for the meat processing equipment market after China, registering a CAGR of 8.8%.

• The cutting equipment segment is projected to occupy around two-fifths of the total Asia-Pacific meat processing equipment market by 2023 growing at the highest CAGR of 9.8% from 2017 to 2023.

• In terms of value, China and India collectively contributed more than two-fifths share in the Asia-Pacific market in 2016.

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