According to a new research report by Global Market Insights, increasing demand for packaged meat in developing countries is expected to drive the meat and poultry processing equipment market to more than $22.3 billion by 2027.
The report predicts the global meat and poultry processing equipment industry for beef alone will surpass $6.4 billion by 2027. Significant economic growth in developing countries, along with increasing urbanization, has raised the demand for beef in these areas. In addition, Brazil and Argentina will likely see a rise in demand for beef products.
The report also reveals the following key findings:
· The global market for chicken is set to register over a 7% CAGR through 2027, owing to the younger generation’s increasing demand for ready-to-eat meat products.
· Increased demand from restaurants and hotels should accelerate the market.
· The global meat and poultry processing equipment industry for marinating and tumbling applications surpassed $1.6 billion in 2020 due to rising consumer demand for enhanced taste and tender meat.
· Dried, processed meat is likely to surpass $1.5 billion by 2027, owing to rising consumer awareness about the retention of protein content in the dried form and enhanced shelf life of the product.
· The Asia-Pacific meat and poultry processing equipment market should experience a 9% CAGR through 2027, supported by the rising adoption of Westernized diets and increasing demand for processed meat products.
· The global market is fragmented and includes manufacturers such as Marel Group, Tomra Systems ASA, Middleby, Heat and Control, Hamilton Beach Brands Holding Co., BAYLE SA, Bettcher Industries, Foodmate US, and Tetra Laval International SA.
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