Market for poultry processing equipment worth $3.83B by 2020
Killing and de-feathering equipment dominated the market share.
The market for poultry processing equipment will be worth $3.83 billion by 2020, at a CAGR of 4.7% from 2015-2020, according to "Poultry Processing Equipment Market by Type (Chicken, Turkey, Ducks), Equipment Type (Killing & De-Feathering, Evisceration, Cut-ups, Deboning & Skinning, Marinating & Tumbling), Product Type, & by Region - Global Forecast to 2020," a study produced by Markets and Markets, Dallas, Texas.
The market is driven by increased consumption of processed foods, government support for the use of equipment in developing countries, the demand for food safety, safety of workers, environment and sustainability, the presence of small and medium enterprises in developing countries, rising raw material costs and international trade rules.
Killing and de-feathering equipment dominated the market share, and is projected to grow at the highest CAGR from 2015-2020, as this particular machinery is becoming a pre-requisite in every automated poultry processing plant.
The Asia-Pacific region is projected to be the fastest-growing market during the forecast period, due to economic growth and the shift in consumer preferences toward value-added foods. The Asia-Pacific region, which includes China, Japan, India, Thailand and Vietnam, witnessed an increase in the consumption rate of meat. As observed over the last decade, the demand for animal protein in these countries also increased and has become important due to the current busy lifestyles.
On the basis of poultry type, the poultry processing equipment market is led by chicken, followed by duck. Chicken consumption is growing faster than other meat because it takes much less feed to produce a kilo of chicken than the equal quantity of pork or beef. In some areas around the world, religious beliefs restrict the consumption of beef and pork, however those restrictions do not apply to poultry meat, which is one of the drivers of the poultry meat market. The chicken segment is projected to grow at the highest CAGR from 2015-2020.