The global landscape of meat processing equipment is undergoing a significant transformation. Valued at $12.3 billion in 2021, the market is projected to soar to an impressive $19.6 billion by 2031, marking a steady growth at a compound annual growth rate (CAGR) of 4.7% over the decade.
Meat, a staple in many diets, is consumed in various forms, from kitchen-style preparations to processed products. The latter, which undergoes modifications to enhance flavor and longevity, is witnessing a surge in global popularity, even though it’s still nascent in certain regions.
This rise can be attributed to the growing consumer appetite for foods that offer multifunctional nutritional advantages, with processed meat leading the charge.
Industry Titans at the Forefront
The report identifies several industry stalwarts, including Welbilt, Inc., GEA Group AG, The Middleby Corporation, and Heat and Control, Inc., among others. These titans, along with Marel, Key Technology, Inc., JBT Corporation, Illinois Tool Works Inc. (ITW), Bettcher Industries, Inc., and Equipamientos Cárnicos, S.L. (Mainca), are shaping the trajectory of the meat processing equipment market.
Cutting Equipment: A Dominant Force
In 2021, the cutting equipment segment emerged as a predominant force in the meat processing domain. Often the initial step in meat processing, cutting helps segregate the vital meat and fat components from the less essential parts of the carcass.
This procedure, typically conducted under vacuum to minimize protein breakdown, facilitates enhanced filling in products like sausages and patties. Given its ubiquity in the food sector, the cutting equipment segment is poised to not only retain its leading position but also register the highest CAGR in the coming years.
A Glimpse into Regional Dynamics
In 2018, North America and Europe collectively held a commanding 66.7% share of the global meat processing equipment market. The industry’s frontrunners have been strategically launching products and making acquisitions to solidify their market presence. The region’s penchant for automation in meat processing is a significant factor driving equipment demand.
Furthermore, meat’s status as a primary protein source in these areas underscores its importance in daily diets.
Key Insights from the Study
The cutting equipment segment is anticipated to grow at a CAGR of 4.9% from 2022 to 2031.
The processed pork segment, in value terms, is projected to expand at a CAGR of 4.8% over the same period.
By 2031, the raw cooked meat application is estimated to command a 20.2% share of the global meat processing equipment market.
North America continues to be a dominant player in the global arena, with expectations to grow at a CAGR of 3.1% during the forecasted decade.
