Technavio analysts forecast the global slaughtering equipment market to grow at a CAGR close to 5% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global slaughtering equipment market to grow at a CAGR close to 5% by 2023. (Graphic: Business Wire)
The rising end-user inclination toward advanced slaughtering equipment is one of the major trends being witnessed in the global slaughtering equipment market 2019-2023. Slaughterhouses and other food processing plants use new technologies to become productive, effective, and to enhance animal welfare. Hygiene and food safety are some of the important factors that need to be considered during meat slaughtering. Automation is one such solution that enhances hygiene and food safety during the meat slaughtering process. End-users are also focusing on reducing manpower in food processing plants. For instance, Marel offers slaughtering equipment that feature automated separations of the pelvic bone. carcass opening, clipping, and splitting. Similarly, Marel's slaughtering line is also equipped with robots that ensure cutting accuracy, avoid possible manual errors while slaughtering, and reduce the chances of bacterial contamination. Thus, the increasing inclination toward advanced slaughtering equipment is fueling market growth.
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According to Technavio analysts, one of the key factors contributing to the growth of the global slaughtering equipment market is the increasing focus on slaughter hygiene and food safety:
Global slaughtering equipment market: Increasing focus on slaughter hygiene and food safety
Food processing plants need to ensure the availability of quality meat products for consumers. Most consumers prefer fish, beef, mutton, goat, poultry, and pork. The quality of processed meat products can be ensured by following the best practices in end-user establishments such as slaughterhouses and meat and poultry processing plants. Slaughtering equipment also help in maintaining the quality of meat products by ensuring perfect cuts without risks of microbial contamination. Some government authorities are also launching steps for making available safe and quality meat to consumers. Hence, the increasing focus on slaughter hygiene and safety in food processing plants will drive market growth during the forecast period.
According to a senior analyst at Technavio for research on food service, “Apart from increasing focus on slaughter hygiene and food safety, the increasing number of end-users, the growing end-user inclination toward certified slaughtering equipment, are some other major aspects that are expected to contribute largely to the growth of the global slaughtering equipment market.”
Global slaughtering equipment market: Segmentation analysis
The global slaughtering equipment market research report provides market segmentation by product (semi-automated slaughtering equipment and fully automated slaughtering equipment), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for close to 40% share, followed by the EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share of over 2% during the forecast period.
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Five Forces Analysis
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