Dublin, Nov. 22, 2024 (GLOBE NEWSWIRE) — The “Poultry Processing Equipment Global Market Opportunities and Strategies to 2033” report has been added to ResearchAndMarkets.com’s offering.
The global poultry processing equipment market reached a value of nearly $4 billion in 2023, having grown at a compound annual growth rate (CAGR) of 4.06% since 2018. The market is expected to grow from $4 billion in 2023 to $5.5 billion in 2028 at a rate of 6.65%. The market is then expected to grow at a CAGR of 7.37% from 2028 and reach $7.9 billion in 2033.
Going forward, the increasing urbanization and growing population, rising disposable incomes, increase in e-commerce and retail sales and expansion of the poultry industry will drive the market. Factors that could hinder the growth of the poultry processing equipment market in the future include limited access to finance for small and medium enterprises (SMEs).
The poultry processing equipment market is segmented by product type into fresh processed, pre-cooked, raw fermentation sausages, dried and cured, other product types. The fresh processed market was the largest segment of the poultry processing equipment market segmented by product type, accounting for 57.3% or $2.3 billion of the total in 2023. Going forward, the fresh processed segment is expected to be the fastest growing segment in the poultry processing equipment market segmented by product type, at a CAGR of 7.43% during 2023-2028.
The poultry processing equipment market is segmented by poultry type into turkey meat, chicken meat, duck meat and other poultry types. The chicken meat market was the largest segment of the poultry processing equipment market segmented by poultry type, accounting for 88.9% or $3.6 billion of the total in 2023. Going forward, the duck meat segment is expected to be the fastest growing segment in the poultry processing equipment market segmented by poultry type, at a CAGR of 9.85% during 2023-2028.
The poultry processing equipment market is segmented by equipment into killing and defeathering, evisceration, cut up, deboning and skinning, marinating and tumbling and other equipment. The killing and defeathering market was the largest segment of the poultry processing equipment market segmented by equipment, accounting for 24.5% or $985.76 million of the total in 2023. Going forward, the killing and defeathering segment is expected to be the fastest growing segment in poultry processing equipment market segmented by equipment, at a CAGR of 7.41% during 2023-2028.
North America was the largest region in the poultry processing equipment market, accounting for 34.8% or $1.4 billion of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the poultry processing equipment market will be Asia-Pacific and South America, where growth will be at CAGRs of 9.77% and 7.39% respectively. These will be followed by Middle East and Eastern Europe, where the markets are expected to grow at CAGRs of 6.90% and 6.76% respectively.
The global poultry processing equipment market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 18.16% of the total market in 2022. Marel Food Systems was the largest competitor with a 6.92% share of the market, followed by JBT Corporation with 5.44%, BAADER Food Systems with 1.54%, GEA Group AG with 1.39%, Foster Farms with 0.71%, Meyn Food Processing Technology B.V. with 0.71%, Sanovo Technology Group with 0.66%, BRF S.A. with 0.35%, Foodmate BV with 0.28% and Prime Equipment Group Inc. with 0.18%.
The top opportunities in the poultry processing equipment market segmented by product type will arise in the fresh processed segment, which will gain $992.42 million of global annual sales by 2028. The top opportunities in the poultry processing equipment market segmented by poultry type will arise in the chicken meat segment, which will gain $1.3 billion of global annual sales by 2028. The top opportunities in the poultry processing equipment market segmented by equipment will arise in the killing and defeathering segment, which will gain $423.24 million of global annual sales by 2028. The poultry processing equipment market size will gain the most in the USA at $321.03 million.
Market-trend-based strategies for the poultry processing equipment market include launch of innovative products to address the evolving needs of the poultry industry, strategic partnerships and collaborations among market players and focus on new advanced technology for better performance and control.
Player-adopted strategies in the poultry processing equipment market include focus on reinforcing position in the global market through strategic partnerships and acquisitions and upgrading technology to provide new products to customers to gain a competitive advantage.
To take advantage of the opportunities, the analyst recommends the poultry processing equipment companies to focus on simulation technology integration, focus on innovation in poultry processing equipment, focus on technological advancements in poultry processing equipment, focus on fresh processed and pre-cooked segments, focus on chicken and duck meat segments, focus on killing and defeathering, and cutting-up segments for growth, expand in emerging markets, continue to focus on developed markets, focus on diversifying distribution channels for market expansion, focus on strategic partnerships, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and target poultry processing companies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 315 |
| Forecast Period | 2023 – 2033 |
| Estimated Market Value (USD) in 2023 | $4 Billion |
| Forecasted Market Value (USD) by 2033 | $7.9 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
Major Market Trends
- Launch of Innovative Products to Address the Evolving Needs of the Poultry Industry
- Strategic Partnerships and Collaborations Among Market Players
- Focus on New Advanced Technology for Better Performance and Control
Competitive Landscape and Company Profiles
- Marel Food Systems
- JBT Corporation
- BAADER Food Systems
- GEA Group AG
- Foster Farms
Key Mergers and Acquisitions
- Fortifi Food Processing Acquired Nothum Food Processing Solutions
- Fortifi Food Processing Acquired REICH Thermoprozesstechnik
- Duravant Acquired Ferdinand Henneken
- Marel Acquired E+V Technology
- Duravant Acquired Marelec Food Technologies
- KKR Acquired Bettcher Industries
- Duravant Acquired Foodmate
For more information about this report visit https://www.researchandmarkets.com/r/8mzpmf
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- Global Poultry Processing Equipment Market
