Slaughtering Equipment Market Worth 8.28 Billion Usd By 2023

By Author: Sonal
Total Articles: 84
Comment this article

The 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.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=176187219

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.

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.

Make an Inquiry: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=176187219

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.

Leading companies are Marel (Iceland), BADDER Group (Denmark), BAYLE SA (France), Prime Equipment Group (US), and CTB (US).