According to the most recent research report from Technavio, the market for meat and poultry processing equipment is anticipated to grow by USD5.73bn between 2023 and 2027, showing a CAGR of approximately 6.03%.
The market’s expansion is dependent on a number of variables, such as growing consumer awareness of the high nutritional value of meat and poultry products, rising demand for quick-to-prepare foods, and expanded distribution through organized retailing.
By 2027, North America is predicted to provide 34% of the growth. Due to a rise in the demand for processed meat and poultry products, North America held the top spot in the global market for equipment used to process meat and poultry in 2022. Because of shifting customer preferences, the availability of many kinds of ready-to-eat food products, and the development of cutting-edge machinery for processing meat and poultry, the US currently leads the market in North America in terms of sales, followed by Canada. The regional market is concentrated on boosting the production of meat and poultry while maintaining food security and preventing the deterioration of livestock ecosystems.
Technology, equipment, and packaging are all constantly evolving in the food industry. Nearly all of the major market competitors employ novel food processing technologies, which help to lessen the effects of thermal processing and prevent temperature rises during processing. The detrimental effects of heat on flavor and nutrition can be lessened with the use of non-thermal processing techniques including High-pressure Processing (HPP), Pulsed Electric Field (PEF), and irradiation since they take place at lower temperatures than thermal processing techniques. Competitors in the market are also developing cutting-edge processing tools that effectively prevent disease contamination, extend the shelf life of meat and poultry products, and keep the greatest amount of nutrients with no or minimal affects on its quality.
Between 2022 and 2027, the meat market is anticipated to expand at a CAGR of 7%. According to projections, the market will grow by USD 522.63 billion. In-depth market segmentation by product (poultry, pork, beef, and others), type (processed and fresh), and geography (Europe, APAC, North America, South America, Middle East and Africa) is covered in this meat industry report. One of the main drivers propelling the expansion of the global meat market is the expansion of the retail landscape.
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