LONDON, Nov. 28, 2016 /PRNewswire/ -- "Meat processing equipment market is projected to grow at a CAGR of 7.03%"
The meat processing equipment market, estimated at USD 9.63 billion in 2016, is projected to grow at a CAGR of 7.03%, to reach USD 14.59 billion by 2022. The market is primarily driven by factors such as increased demand for processed meat products and rising safety regulations generating the need for sophisticated equipment. The high growth potential in the Asia-Pacific and Rest of the World region and untapped regions provide new growth opportunities for the market players. One of the major restrain in the growth of the meat processing equipment market is increasing cost of raw materials and logistics.
"Smoking equipment segment is projected to grow at fastest CAGR"
On the basis of type, the meat processing equipment market was led by the smoking equipment segment, followed by filling equipment and tenderizing equipment, respectively. There is an increasing trend towards usage of smoking equipment, this is due to its feature to improve the flavor as well as longevity of the meat product such as smoking meats, smoking sausages, and smoked meat.
"Processed beef segment projected to be the fastest growing market, during the forecast period"
The processed beef segment is projected to be the fastest growing segment, during the forecast period. Due to the rising awareness towards healthiness of eating beef and nutritional benefits of beef consumption, companies are focusing on developing and marketing ready-to-eat beef products that meet consumer nutrition, taste, and food safety needs and thus drives the market for meat processing equipment industry.
"Asia Pacific & Rest of the World: High growth projected in the meat processing equipment market"
Asia-Pacific and Rest of the World is projected to be the fastest-growing market for the period considered for this study, due to the high adoption rate of meat processing equipment in food processing. China and Brazil are expected to lead the market for meat processing equipment in the Asia-Pacific and Argentina and South Africa in Rest of the World region for the next five years, as a result of the acquisitions and establishments of meat processing manufacturers, to cater to the needs of the food processing industry. The U.S. meat processing equipment market not only dominates North America but also the global market.
Leading players profiled in this report:
- GEA Group AG (Germany)
- JBT Corporation (U.S.)
- Key Technology Inc. (U.S.)
- Marel (U.S.)
- Heat and Control, Inc. (U.S.)
- Illinois Tool Works Inc. (U.S.)
- Manitowoc (U.S.)
- The Middleby Corporation (U.S.)
- Bettcher Industries, Inc. (U.S.)
- Equipamientos Cárnicos, S.L. (Spain)
The report segments the meat processing equipment market on the basis of type, meat type, product type, and region. In terms of insights, this research report has focused on various levels of analyses—trade analysis, supply chain analysis, and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging & high-growth segments of the global meat processing equipment market, high-growth regions, countries, government initiatives, drivers, restraints, and opportunities.
Reasons to buy this report:
- To get a comprehensive overview of the meat processing equipment market
- To gain wide ranging information about the top players in this industry, their service portfolios and key strategies adopted by them
- To gain insights about the major countries/regions in which the meat processing equipment market is flourishing
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