NEW YORK, May 9, 2016 /PRNewswire/ -- "Poultry processing equipment market is projected to grow at a CAGR of 4.7%"
The poultry processing equipment market is projected to reach USD 3.83 billion by 2020, at a CAGR of 4.7% from 2015 to 2020. The market is further driven by factors such as increased consumption of processed food, the government support for the use of equipment in developing countries, the demand for food safety, safety of workers, environment and sustainability, the presence of small and medium enterprises in developing countries, rising raw material costs, and international trade rules.
"Killing & de-feathering equipment accounted for the largest market share in 2014"
Killing & de-feathering dominated the poultry processing equipment market among other equipment. This market is projected to grow at the highest CAGR from 2015 to 2020. Due to the high cost of equipment and rise in automation, this market captured the largest market share in 2014, in terms of value.
"Chicken led the market with the largest share in 2014"
Based on poultry type, the poultry processing equipment market is led by chicken, followed by duck. Chicken consumption is growing faster than other meat as it takes less consumption of feed to produce a kilo of chicken than the equal quantity of pork or beef. Several religious boundaries also play a major role towards the restriction of beef and pork consumption around the world, which is not applicable for poultry meat. The chicken segment is projected to grow at the highest CAGR from 2015 to 2020.
"Fresh processed food dominated the poultry processing equipment market"
On the basis of product type, fresh processed food captured the major market share in poultry processing equipment in 2014 and it is projected to grow at the highest CAGR from 2015 to 2020. Globalization, rise in demand for processed food, and change in life styles are the factors that lead to the growth of this market.
"China contributes the highest market share for the Asia-Pacific region"
The Asian-Pacific region, which includes countries such as China, Japan, India, Thailand, and Vietnam has shown an increment in the consumption rate of meat. Economic growth and the shift of preferences of consumers towards value added food led the market growth. As observed over the last decade, the demand for animal protein in these countries has increased.
Given below is breakdown of the primaries on the basis of company, designation, and region, conducted during the research study.
-By Company Type: Tier 1 – 35%, Tier 2 – 45% and Tier 3 – 20%
-By Designation: C level – 35%, Director level – 25%, Others – 40%
-By Region: North America - 30%, Europe – 20%, APAC – 45%, RoW – 5%
The poultry processing equipment market is dominated by leading players such as Marel HF (Iceland), Key Technology, Inc. (U.S.), John Bean Technologies Corporation (U.S.), CTB, Inc. (U.S.), Baader Food Processing Machinery, Inc. (Germany), Brower Equipment (U.S.), Bayle S.A. (France), CG Manufacturing and Distribution Limited (Canada), and Prime Equipment Group, Inc. (U.S.).
Reasons to buy this report:
- To get a comprehensive overview of the global poultry processing equipment market
- To gain wide ranging information about the top players in this industry, their product portfolios, and key strategies adopted by them
- To gain insights of the major countries/regions in which the poultry processing equipment market is flourishing
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