July 07, 2020
According to the research report titled ‘Global Slaughtering Equipment Market Size study with COVID-19 impact, by Type (Stunning, Killing, Cut-Up, Deboning & Skinning, Evisceration and Others), by Automation (Fully Automated Line and Semi-Automated Line), by Livestock (Poultry, Swine, Bovine, Seafood and Other), by Process type (Line Slaughter, Batch Slaughter and Small-Sized Slaughter) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global slaughtering equipment market accumulated returns worth USD 6.99 billion in the year 2019 and is reckoned to showcase a y-o-y growth rate of 4.56% during 2020-2026.
For those uninitiated, slaughtering is referred to as obtaining meat products from raw animals by using large equipment and machines. The equipment and machines are used for cutting, opening the key body cavities in order to remove the offal and entrails while leaving the carcass in one piece.
Growing demand for processed meat products is a major factor driving the slaughtering equipment market growth. According to Statista, the worldwide demand for processed meat reached USD 670.5 billion in the year 2019 and is estimated to increase to USD 998.62 billion by the year 2022.
Additionally, advancements in slaughtering equipment industry are further swaying the business dynamics. However, high capital investments as well as infrastructural support needed for installing slaughtering equipment may act as a restraining factor to the overall market growth in the coming years. Besides this, global economic slowdown as a result of COVID-19 pandemic may also adversely impact the overall market outlook.
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Based on type, the market is split into evisceration, deboning & skinning, cut-up, killing, stunning and others. In terms of automation, the slaughtering equipment industry is bifurcated into semi-automated line and fully automated line. By livestock, the industry is divided into seafood, bovine, swine, poultry and others. Speaking of process type, the market is classified into small-sized slaughter, batch slaughter and line slaughter.
Emphasizing on the geographical landscape, North America accounts for a substantial share in the overall market and is estimated to generate significant revenues in the forthcoming years, primarily due to increasing consumption of processed meat in the region.
On the other hand, slaughtering equipment market in Asia-Pacific is poised to accumulate notable returns in the forthcoming years. Lenient trade policies, technological advancements in the product and increasing meat export activities are favoring the market scenario in APAC.
The leading companies operating in slaughtering equipment industry are Dhopeshwar Engineering Pvt. Ltd., Asena, Indsutries Riopel Inc., Jarvis Equiopment (P) Ltd., Brower Equipment, CTB Inc., Prime Equipment Group Inc., Bayle SA, Baader Group and Marel among others.