The global slaughtering equipment market was valued at USD 6.39 Billion in 2017; this is projected to grow at a CAGR of 4.56% from 2018, to reach USD 8.28 Billion by 2023.
Northbrook, IL -- (SBWIRE) -- 05/09/2018 -- The report "Slaughtering Equipment Market by Type (Stunning, Killing, Cut-up, Deboning & Skinning, Evisceration), Livestock (Poultry, Swine, Bovine, Seafood), Automation (Fully Automated, Semi-automated), Process Type, and Region - Global Forecast to 2023", The global slaughtering equipment market is estimated at USD 6.62 Billion in 2018 and is projected to reach USD 8.28 Billion by 2023, at a CAGR of 4.56% during the forecast period. The market is driven by factors such as the growth of fast food and restaurant chains; increase in demand for processed food; lenient trade policies & increase in meat exports; and technological advancements in the slaughtering equipment industry. The mechanization and automation of processes have become a necessity in order to maintain standard cut-up size and identical fillet size, which are a pre-requisite in the fast food and restaurant businesses. Moreover, slaughtering equipment manufacturers and meat processing companies are collaborating for enhanced technological advancements, thereby driving the growth of the slaughtering equipment market.
Browse 73 market data Tables and 34 Figures spread through 146 Pages and in-depth TOC on "Slaughtering Equipment Market - Global Forecast to 2023"
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The killing segment, by type, estimated to account for the largest market share in 2018.
The killing segment is estimated to dominate the global slaughtering equipment market in 2018. The killing method is followed by the stunning segment. A killing machine is a pre-requisite in every automated poultry, swine, bovine, and fish processing plant, which drives the growth of this segment.
The semi-automated segment, by automation, is estimated to be the larger segment in 2018.
The semi-automated segment, by automation, is estimated to account for the larger share in 2018. Medium- and small-scale manufacturers use semi-automatic slaughtering lines, which consist of equipment such as semi-automatic deboning equipment, killing equipment, and evisceration equipment. It is widely used in slaughterhouses as it has a lower initial investment and requires low maintenance costs, which drive the demand for semi-automated slaughtering equipment among the meat producers.
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The poultry segment, by livestock, is estimated to be the largest segment in 2018.
The poultry segment is estimated to account for the largest market share in 2018. Over the last five years, the demand for poultry has been growing significantly worldwide as poultry meat is universally consumed, and unlike beef and swine, is devoid of any religious constraints, which leads to an increase in demand for poultry slaughtering equipment such as killing, cut-up, deboning & skinning, and evisceration equipment.
The Asia Pacific market is projected to grow at the highest CAGR from 2018 to 2023.
The Asia Pacific region witnesses a high consumption of meat in urban areas; the increase in demand for processed meat products drives the growth of the market for slaughtering equipment in the region. The market for slaughtering equipment in the Asia Pacific region is projected to be the fastest-growing globally, as economic growth and rapid urbanization increased the demand for slaughtering equipment among meat producers to meet the increasing demand of meat products in the region.
This report includes a study of various slaughtering equipment, along with the product portfolios of leading companies. It includes the profiles of leading companies such as Marel (Iceland), BADDER Group (Denmark), BAYLE SA (France), Prime Equipment Group (US), and CTB (US).
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