New Meat and Poultry Processing Equipment Market Research Highlights Recovery Path for Businesses from COVID-19 based on Meat Processing Equipment and Poultry Processing Equipment Applications| Technavio

The new Meat and Poultry Processing Equipment Market Research from Technavio indicates Negative and Inferior growth in the short term as the business impact of COVID-19 spreads.

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Technavio has announced its latest market research report titled Global Meat and Poultry Processing Equipment Market 2020-2024. (Graphic: Business Wire)

"One of the primary growth drivers for this market is the Demand for Meat and Poultry Products,” says a senior analyst for Industrials at Technavio. The consumption of meat and poultry products is increasing with the rising awareness about their nutrient content. These products are rich in proteins, vitamins, minerals, and omega-3 fatty acids. The consumption of meat and poultry products helps people in weight management, cognitive function, brain growth and development, and also preventing Alzheimer’s disease. The meat and poultry market is also recording various R&D activities around enhancing the nutrient content of their products. As a result, the demand for meat and poultry products will increase in the coming years, which will subsequently boost the meat and poultry processing equipment market growth. As the markets recover Technavio expects the meat and poultry processing equipment market size to grow by USD 4.73 billion during the period 2020-2024.

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Meat and Poultry Processing Equipment Segment Highlights for 2020

• The meat and poultry processing equipment market is expected to post a year-over-year growth rate of 2.47%.
• Meat processing equipment segment dominated the market in 2019.
• The meat industry is a fast-paced sector and is growing at a steady rate.
• Although the market has been stagnant in developed regions such as North America and Western Europe, the market in developing regions such as APAC and MEA is expected to grow in the coming years due to the increasing consumption of meat, including processed meat.

Regional Analysis

• 46% of the growth will originate from the APAC region.
• Factors such as economic growth and consumers' shifting preferences toward ready-to-eat meat and poultry products will significantly drive meat and poultry processing equipment market growth in this region over the forecast period.
• China is a key market for meat and poultry processing equipment in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Notes:

• The meat and poultry processing equipment market size is expected to accelerate at a CAGR of over 5% during the forecast period.
• The meat and poultry processing equipment market is segmented by application (meat processing equipment and poultry processing equipment) and geography (APAC, Europe, North America, South America, and MEA).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including BAYLE SA, Berkshire Hathaway Inc., Bettcher Industries Inc., Brower Equipment, Duravant LLC, Foodmate US Inc., GEA Group Aktiengesellschaft, Hamilton Beach Brands Holding Co., Heat and Control Inc., Illinois Tool Works Inc., John Bean Technologies Corp., Marel Group, Tetra Laval International SA, The Middleby Corp., and Tomra Systems ASA.

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Coverage

Regions Covered

Worldwide

Topics Covered

COVID-19, Meat Processing Equipment, meat and Poultry Processing Equipment, Meat and Poultry Processing Equipment

View source version on businesswire.com: https://www.businesswire.com/news/home/20200914005660/en/