Market watch: Meat and poultry processing equipment

The  meat and poultry processing equipment market is expected to cross USD 22.3 billion by 2027, according to a new research report by Global Market Insights Inc., owing to increasing demand for packaged meat in developing countries.

The global meat and poultry processing equipment industry for beef is expected to surpass USD 6.4 billion by 2027. Significant economic growth in developing countries along with increasing urbanization has raised the demand for beef. Brazil and Argentina should experience a rise in the demand for beef products which shows ample growth opportunities for market growth.

Some major findings in the report

• The global market for chicken is set to register over a 7% CAGR through 2027, owing to increasing demand for ready-to-eat meat products from the younger generation.

  
  

• Processed meat inhibits the growth of microbes and witnessed increased demand from restaurants and hotels which should accelerate the market statistics.

   

• Global meat and poultry processing equipment industry from marinating and tumbling applications surpassed USD 1.6 billion in 2020 due to rising consumer demand for enhanced taste and tender meat.

   

• Dried, processed meat is likely to surpass USD 1.5 billion by 2027, owing to rising consumer awareness about the retention of protein content in the dried form and enhanced shelf life of the product.

  
  

• The Asia-Pacific meat and poultry processing equipment market should experience a 9% CAGR through 2027, supported by the rising adoption of westernised diets and increasing demand for processed meat products.