Wilmington, Delaware, United States, Feb. 06, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The meat processing equipment market was worth US$ 1.9 billion in 2022. The market is expected to expand at a CAGR of 4.6% from 2023 to 2031, reaching US$ 2.9 billion by 2031. Industry 4.0 and automation are expected to further integrate with the meat processing sector. More emphasis will be placed on the optimization of the slaughter, cutting, packaging, and quality control stages of the meat processing process with robotics, AI, and machine learning. This integration aims to improve production processes, lower labor costs, and increase efficiency.
Sustainability is increasingly being considered in the food business, which includes beef processing. It is anticipated that technology for meat processing in the future will emphasize sustainable methods such as waste minimization, energy-efficient gear, and eco-friendly packaging options. The industry may investigate alternatives to conventional meat processing techniques, such as plant-based or cultured meat technologies, which could affect the layout and functionality of processing machinery.
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Equipment used in meat processing is expected to continue to innovate due to the importance of food safety. It is expected that advanced technology for quality control, traceability, and real-time monitoring will increase. Food safety and cleanliness requirements are becoming more stringent as consumers and authorities call for standards that are more stringent.
Key Findings of the Market Report
- As the demand for processed meat technologies rises, companies are investing in new and advanced technologies.
- A significant market share is expected to come from the Asia Pacific.
- Based on meat type, demand for meat processing equipment is expected to be driven by the mutton segment.
- In terms of end-use, commercial meat processing equipment will drive demand over the next few years.
Global Meat Processing Equipment Market: Key Players
According to meat processing equipment market research, prominent companies invest heavily in research and development, produce product expansions, and acquire competitors. The development of new products is an important marketing strategy. It is highly competitive with several global and regional players in the market.
- Marel
- GEA Group Aktiengesellschaft
- JBT
- The Middleby Corporation
- Illinois Tool Works Inc.
- Bettcher Industries, Inc.
- Scott Technology Limited
- Minerva Omega group s.r.l.
- Other Key Players
Key Developments
- In April 2023, Scott Technology reported a rise in its first-half profit. A strong 11 percent gain in revenue was reported by the Dunedin-based company, which specializes in meat processing, material handling, and logistics automation.
- In December 2023, John Bean Technologies Corporation JBT proposed purchasing the entire stock of Marel HF in a revised and substantially improved proposal. Because of this acquisition, JBT is able to maintain financial stability and strategic flexibility while acquiring companies that have significant synergy potential.
Global Meat Processing Equipment Market: Growth Drivers
- Due to a growing economy and an expanding population worldwide, processed beef products have become more popular. Due to consumer demand for convenient, ready-to-cook meat options, modern meat processing equipment is in high demand. By increasing urbanization and changing lifestyles, consumers are becoming increasingly interested in processed, value-added beef products.
- Technological developments are a major factor influencing the meat processing equipment industry. Meat processing facilities now operate more efficiently, quickly, and precisely because of automation, robotics, and smart technologies.
- Modern equipment makes better control over the various phases of meat processing possible, raising standards for both quality and safety. Integration of Internet of Things (IoT) technologies and data analytics in meat processing equipment has enabled better monitoring and administration of the entire processing chain.
- Improved cost- and operational effectiveness is a key driver of the meat processing industry. Increasing efficiency, cutting waste, and streamlining production procedures are always top priorities for meat processors. Advanced processing equipment allows businesses to increase throughput, reduce labor costs, and better utilize resources, thus maintaining their competitiveness in the market.
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Global Meat Processing Equipment Market: Regional Landscape
- Asia Pacific has seen rapid growth in the meat processing equipment market. A growing demand for sophisticated meat processing equipment has resulted in consumers seeking meat options ready to consume or cook. Manufacturers of meat processing equipment now have more chances due to the rise in meat output, fueled by population expansion and shifting dietary preferences.
- Furthermore, a number of the region's nations are increasing their capacity to export beef, and to comply with global quality and safety regulations, there is an increasing need for sophisticated processing machinery.
- The Asia Pacific, meat processing sector is gradually adopting new technologies to improve productivity, security, and product quality. Food safety and hygiene standards are becoming increasingly stringent worldwide, and meat processors in the area are investing in state-of-the-art machinery to meet them. Asia Pacific is becoming a major hub for the world's meat trade, with several nations being major meat producers.
Global Meat Processing Equipment Market: Segmentation
By Equipment Type
- Cutting/Size Reduction
- Mixing/Blending
- Cooling
- Slicing
- Marinating Equipment
- Cooking/Heating
- Others (Forming & Stuffing, Smoking, Etc.)
By Meat Type
- Beef
- Pork
- Mutton
- Others (Rabbit, Horse, Camel, etc.)
By End Use
- Commercial
- Industrial
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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