USA, Portland. The market for meat processing equipment was estimated at $10,968 mill. in 2017 and is expected to reach $18,817 mill. by 2025. This corresponds to an annual growth rate of 6.9% from 2017 to 2025.
North America dominated the global market for meat processing equipment, followed by Europe and the Asia-Pacific region. The Asia-Pacific region is expected to grow most strongly in the forecast period.
In addition, the growing human population is expected to boost demand for meat and meat products worldwide. The main factor driving the growth of the global meat processing equipment market is the increased demand for processed meat as consumers prefer high protein and safe foods.
However, high costs for meat processing equipment are expected to hamper market growth during the analysis period. Non-cold chain areas where stable meat products must be offered and the growing trend of small meat processing companies are the two main factors providing numerous opportunities for the global meat processing equipment market. In addition, emerging markets in Asia Pacific, Latin America and Africa offer lucrative growth opportunities for the meat processing equipment industry. Growth in these regions is mainly due to low labor costs and flexible government regulations that make them the world's "meat processing centers".
Key players in the global meat processing equipment market have focused on acquisitions, collaborations and expansions to achieve significant market share. Some of the key players analyzed in the report of Big Market Research are GEA Group AG, JBT Corporation, Key Technology Inc., Marel, Heat & Control, Illinois Tool Works, Manitowoc, Middleby Corporation, Bettcher Industries, Inc. and Equipamientos Crnicos, SL.