The global meat and poultry processing equipment market is expected to post a CAGR close to 7% during the period 2019-2023, according to the latest market research report by Technavio
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Technavio has published a new market research report on the global meat and poultry processing equipment market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the market is the rising awareness of the nutritional value of meat and poultry products. Meat and poultry products are good sources of nutrients such as proteins, vitamins, minerals, and omega-3 fatty acids. EPA and DHA help in weight management, cognitive function, and prevention of Alzheimer's disease. In addition, minerals and other nutrients present in meat and poultry products help in the growth and development of the brain and reproduction. Also, with several health benefits associated with meat and poultry products, the demand for such products is expected to increase during the forecast period. These factors will fuel the need for meat and poultry processing equipment.
As per Technavio, the technological advances in new meat and poultry processing equipment will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global meat and poultry processing equipment market 2019-2023research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global meat and poultry processing equipment market: Technological advances in new meat and poultry processing equipment
The food industry witnesses constant evolution in terms of technology, machinery, and packaging. One of the major technologies is novel food processing technologies, used by almost all the key market competitors, to reduce the negative impacts of thermal processing. Furthermore, these market competitors design innovative processing equipment that is efficient in avoiding disease contamination, increase shelf life of meat and poultry products, and retain maximum nutrients, with no or negligible effects on its quality. The introduction of technologically advanced meat and poultry processing equipment is a new trend, which is expected to witness potential growth in the market in focus during the forecast period.
"Apart from the technological advances, the growing demand for convenient food products is one other factor that is expected to boost the growth of the global market. With busy life schedules and an increase in the number of working women, the preference for convenient food products is increasing, including processed meat and poultry products, when compared with home-cooked food. These factors are expected to increase the demand for convenient meat and poultry products, thereby fueling the growth of the global meat and poultry processing equipment market," says a senior analyst at Technavio.
Global meat and poultry processing equipment market: Segmentation analysis
This market research report segments the global meat and poultry processing equipment market by application (meat processing equipment and poultry processing equipment) and geographical regions (North America, Europe, APAC, South America, and MEA).
The North American region led the market in 2018, followed by Europe, APAC, South America, and MEA respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the increase in the consumption rate of meat and poultry products in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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