Meat Processing Equipment Market Projected To Display A Robust Growth With a CAGR of 6.9% By 2025
The meat processing equipment market was valued at $10,968 million in 2017, and is projected to reach $18,817 million by 2025, growing at a CAGR of 6.9% from 2018 to 2025. North America is one of the prominent consumers of meat processing equipment, accounting for more than 36.3% of the total market in 2017.
Meat is either consumed as a processed meat product or as a component of kitchen-style food preparations. Processed meat is a meat that is modified to improve its taste and shelf life.
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Processed meat products, although in some regions still in their infancy, are globally gaining ground in popularity and consumption volume. The demand for processed meat is expected to increase due to surge in consumer demand for food products with multifunctional nutrition benefits. Therefore, meat processing equipment are designed based on the specific end-use requirements. In addition, automated food processing equipment has experienced an increase in demand due to increasing focus on production efficiency and cost reduction.
The demand for meat processing equipment in various applications, such as meat, poultry, and seafood, is relatively high. Increase in demand for these equipment in Asia-Pacific is expected in the near future due to robust domestic demand fueled by urbanization, shift in food habits and higher incomes. However, lack of infrastructure is anticipated to restrain the growth of the market.
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The global meat processing equipment market is segmented based on type, meat, application, and geography. Based on type, it is classified into cutting equipment, blending equipment, tenderizing equipment, filling equipment, dicing equipment, grinding equipment, smoking equipment, massaging equipment, and others.
On the basis of meat, it is categorized into processed beef, processed pork, processed mutton, and others. On the basis of application, it is divided into fresh processed meat, raw cooked meat, precooked meat, raw fermented sausages, cured meat, dried meat, and others. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with the detailed country analysis of the respective regions.
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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).
Key Findings of the Meat Processing Equipment Market:
In terms of value, the processed pork segment is expected to grow at a CAGR of 7.2% from 2018 to 2025.
By type, the cutting segment in meat processing equipment is expected to grow at a CAGR of 8.1% from 2018 to 2025.
North America is anticipated to maintain its lead position throughout 2025, growing at a CAGR of 5.2%, in terms of value.
The fresh processed meat application is estimated to occupy one-fourth of the total market by 2025.
China is expected to occupy more than one-fourth of the total Asia-Pacific meat processing equipment market by 2025, growing at the highest CAGR of 10.3%, in terms of value.
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