Slaughtering Equipment Market is projected to Reach 8.28 Billion USD by 2023
The global slaughtering equipment market is estimated at USD 6.62 Billion in 2018 and is projected to reach USD 8.28 Billion by 2023, at a CAGR of 4.56%.
The market is driven by factors such as the growth of fast food and restaurant chains; increase in demand for processed food; lenient trade policies & increase in meat exports; and technological advancements in the slaughtering equipment industry.
The mechanization and automation of processes have become a necessity in order to maintain standard cut-up size and identical fillet size, which are a pre-requisite in the fast food and restaurant businesses. Moreover, slaughtering equipment manufacturers and meat processing companies are collaborating for enhanced technological advancements, thereby driving the growth of the slaughtering equipment market.
The killing segment is estimated to dominate the global slaughtering equipment market in 2018. The killing method is followed by the stunning segment. A killing machine is a pre-requisite in every automated poultry, swine, bovine, and fish processing plant, which drives the growth of this segment.
The Asia Pacific region witnesses a high consumption of meat in urban areas; the increase in demand for processed meat products drives the growth of the market for slaughtering equipment in the region. The market for slaughtering equipment in the Asia Pacific region is projected to be the fastest-growing globally, as economic growth and rapid urbanization increased the demand for slaughtering equipment among meat producers to meet the increasing demand of meat products in the region.
The key manufacturers in the slaughtering equipment market include Marel (Iceland), BADDER Group (Denmark), BAYLE SA (France), Prime Equipment Group (US), and CTB (US). These companies have diversified product portfolios and advanced technologies for slaughtering equipment at major strategic locations. The other companies which are profiled include Brower Equipment (US), Jarvis Equipment (India), Industries Riopel (Canada), ASENA (Azerbaijan), Dhopeshwar Engineering Private Limited (India), Meatek Food Machineries (India), BANSS (Germany), Limos (Slovenia), Best & Donovan (US), and Blasau (Spain).
Comments
Post a Comment