Slaughtering Equipment Market size was valued at $ 6.55Bn in 2019 and is anticipated to grow at a CAGR of 4.23% during the forecast period 2020-2025. The Slaughtering Equipment Market growth rate is attributed to increase in consumption rate and overall demand for processed and packed meat; also, the lenient trade policies led to increase export of various meat. Furthermore, the rapid advancements made in various slaughtering equipment machineries like meat mincer, chicken plucker to the enhancements made in the sterilization equipment’s and automation made in mechanization like standard fillet size and identical cut-up size is anticipated to bolster the Slaughtering Equipment Market growth during the forecast period 2020-2025.
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Mode of Automation – Segment Analysis
Based on Automation type, semi-automated segment held the major share of the market in terms of revenue and is set to grow with a CAGR of 2.57%. The reason behind its dominance is semi-automatic slaughtering lines consist of some automatic machines such as semi-automatic deboning equipment, killing equipment, evisceration equipment, etc. as well as manual labor-oriented processes during slaughtering and henceforth, semi-automated lines have lower initial investments and require low maintenance costs. Moreover, this line of operation allows slaughterhouse to produce mass high quality meat with high speed thereby maintaining pre-requisite cut-up size for both fast food and restaurant businesses thereby driving the market growth in the forecast period of 2020-2025.
By Livestock Type- Segment Analysis
Poultry segment held the largest share in the market as the demand for poultry has shown significant growth worldwide unlike beef and swine, which led to an increase in demand for poultry slaughtering equipment such as killing, cut-up, deboning & skinning, evisceration equipment. Furthermore, the significant increase in the consumption of poultry can be attributed to the fact that it is devoid of any regional constraints, which can be counted in as an increase in the sales of poultry slaughtering equipment’s in the forecast period of 2020-2025.
By Geography – Segment Analysis
North America dominated the Slaughtering Equipment Market with a share of 37% in 2019. The application of Slaughtering Equipment has grown rapidly over the last few years owing to the urbanization and growth of fast food and restaurant chains. North American region addresses the demand for processed meat to cater to the consumer demands which has resulted in the innovations of different slaughtering equipment’s. Moreover, manufacturers in the region are utilizing an optimized approach to deliver slaughtering equipment on time in order to meet the demand for meat products in the market which are to cater the Slaughtering Equipment Market in the forecast period of 2020-2025.
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Drivers – Slaughtering Equipment Market
With the rise in demand of various processed food products with extended nutritional interest; meat is still considered as the leading protein rich food for consumers. However, factors like increase in mechanization and automation of processes, awareness about quality and hygienic meat products catered with fast growing economies can be considered as a Slaughtering Equipment key driver of the market during the forecast period 2020-2025.
Challenges – Slaughtering Equipment Market
The major challenge faced is that the market has been undergoing through a period where it is seen that global slaughter houses process a large number of livestock’s with the help of their high production capacity equipment’s but there has been lower cost of production per unit as result of less trading opportunities. This can be related to the stringent rules and trading regulations regarding the distribution and sales of slaughtered meat in some of the regions.
Slaughtering Equipment Industry Outlook
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Slaughtering Equipment Market. In 2019, Slaughtering Equipment Market share is fragmented by the top ten players present in the market. Slaughtering Equipment Market top 10 companies are Marel, BADDER Group, BAYLE SA, Prime Equipment Group, CTB, Brower Equipment, Jarvis Equipment, Industries Riopel, ASENA, Dhopeshwar Engineering Private Limited and others.
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