Global Poultry Meat Processing Equipment Market to Reach USD 5.0 Billion by 2028

Published | 01 January 2023

The global poultry meat processing equipment market is expected to grow at a higher CAGR owing to the increasing number of fast-food chains that require pre-processed poultry products for the purpose of providing their clients on time while adhering to stringent food-safety and cleanliness requirements. With a growing service sector population around the world, the acceptability and market for fortified meats and poultry products is expected to rise, owing to the high protein content in poultry products such as eggs and various forms of meat. Furthermore, the increase in consumer spending power is predicted to benefit the market for processed products such as meat spreads which are becoming increasingly popular, resulting in a boost in market growth throughout the forecast period.

A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Global Poultry Meat Processing Equipment Market was worth USD 3.7 billion in the year 2021. The market is projected to grow at a CAGR of 4.3% from 2022-2028 (forecast period), earning revenues of around USD 5.0 billion by the end of 2028. The market is booming owing to the substantial increase in demand for fortified poultry meat products and increased awareness in the consumer towards their health.

Additionally, with the increasing number of fast-food chains that require pre-processed poultry products to cater to their customers and the need to adhere to the stringent food safety and cleanliness requirements, the market for poultry meat processing equipment is set to grow substantially throughout the forecast period. Furthermore, rising living standards and much more disposable income of the consumer globally combined with the increased research and development(R&D) activities that shape the future of poultry meat processing are driving the global poultry meat processing equipment market.

Global Poultry Meat Processing Equipment Market is Being Driven by Growth of Fast Food and Restaurant Chains.

Various global fast-food chains are growing their operations around the world. These industries require pre-processed poultry products in order to supply their clients on time while adhering to high food safety and cleanliness standards. The large amounts of demand for processed food compelled poultry processing businesses to improve manufacturing capacity while decreasing delivery time. Mechanization and automation of operations have become necessary to maintain standard cut-up size and the same fillet size, which are required in the fast food and restaurant industries, and thus, this increases the demand for poultry meat processing equipment globally.

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Restraint

High capital investment

Poultry meat processors require high capital investment to install various types of processing equipment. This installation leads to not only high costs but also timely maintenance, which acts as an additional cost affecting the operating margins of the poultry meat processors. In addition, the high maintenance costs can be damaging to any organization if not managed properly, and they increase your operating expenses and reduce your profit margins. Although, with correctly functioning equipment, it's possible to conduct business. Management of maintenance tasks and costs must be done as efficiently as possible, as else they might add on major impediment to the pre-existing high cost of installing the poultry meat processing devices.

Global Poultry Meat Processing Equipment Market– By Type of Meat

Based on the type of poultry meat, the market is distinguished into beef, chicken, duck, mutton, pork, turkey, and other types. Chicken is predicted to have a significant proportion of the global poultry products market in the forecasted period. A wide variety of processed chicken products are available on the market, including ham, bacon, nuggets, smoked chicken, and sausages, which is projected to improve chicken sales. Because chicken has lower production costs and lower product prices than other poultry products, there is an increasing demand for chicken goods from both producers and consumers of poultry products. Chicken meat is distinguished by its flavor, versatility, and texture, and its sales are likely to rise in the coming years throughout the forecast period.

Furthermore, this demand is boosted by the rise of poultry meats driven by fast-food chains and demand from the hotel and restaurant industries. Furthermore, the growing emphasis on convenience and ready-to-eat products like meat spreads, combined with easy availability in many types of retail establishments, will enhance production, which is expected to benefit market growth.

Regional Insights

The market is segmented into five major regions: North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America led the market in 2021. The increased demand for meat processing plants in the region is attributable to the food industry's high level of automation. Furthermore, due to its high protein content, meat is one of the essential foods in this region. Emerging markets, particularly those in India, Japan, New Zealand, and China, have overcome technology limitations and now offer a variety of development prospects. The markets for chicken meat processing equipment in Brazil and Argentina are also anticipated to expand throughout the projected period. Over the course of the projection period, demand for meat processing equipment is anticipated to increase due to rising meat consumption in European markets from countries including the UK, France, Germany, and Switzerland.

The European market is expected to expand due to rising demand for high protein content and immune-boosting properties of meat. Furthermore, developments in the food processing business, such as integrating all production processes into a single unit to reduce labor costs and boost cleanliness levels, fuel market growth. Asia-Pacific is expected to develop at the quickest CAGR of 6.8% throughout the projection period, owing to an increasing population with increasing income levels. Furthermore, Western countries' rising investment in fast food outlets has raised the demand for meat processing equipment, increasing production levels and lowering processing times.

Impact of COVID-19 on Global Poultry Meat Processing Equipment Market

The unprecedented global public health emergency known as COVID-19 has had an impact on almost every business, and the long-term effects are anticipated to have an impact on industry growth throughout the forecast period. In order to ensure that core COVID-19 concerns and potential future directions are taken into consideration when assessing future growth, there is a need to recognize that the global poultry meat processing equipment market has been affected by the global restrictions caused by the pandemic. As restrictions are withdrawn in the majority of countries where a larger part of the population is vaccinated, it is expected that the industry will achieve the compound annual growth rate (CAGR) as project in the forecast period owing to the increased awareness and demand for the healthier options like the fortified poultry meat products.

Competitive Landscape

The major market leaders include BAADER, Bayle SA, Brower Equipment, CTB, Inc., C.G., MFG & DIST INC, JBT(John Bean Technologies Corporation), Key Technology Inc., Marel, Prime Equipment Group, Inc., among other prominent players in the market. Major market competitors use a variety of techniques, including mergers and acquisitions, innovative therapies, and others, to stay competitive and gain an advantage over rivals. The global poultry meat processing equipment market is consolidated with the presence of several manufacturing companies globally. The market leaders retain their supremacy by spending on research and development(R&D), incorporating cutting-edge technology into their goods, and releasing upgraded items for customers. Various tactics, including strategic alliances, agreements, mergers, and partnerships, are utilized in order to maintain their market share.

Don’t miss the business opportunity in the Global Poultry Meat Processing Equipment Market. Consult our analysts to gain crucial insights and facilitate your business growth.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Global Poultry Meat Processing Equipment Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Dairy Processing Equipment Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.

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