According to a recent FMI report, the butcher equipment market is anticipated to cross a valuation of US$ 4,768.3 Mn in 2033. It is estimated to showcase growth at a CAGR of 4.4% between 2023 and 2033.
Increasing investments by key players and government agencies in the automation of meat processing machinery in various countries such as the U.S., Germany, the U.K., and India are expected to drive the need for advanced butcher equipment. Strict norms associated with transport, trading, and selling of meat under controlled conditions to prevent spoilage is another factor boosting the market.
Moreover, the urgent need to maintain nutritional values in meat and meat products is projected to aid growth in the market. Rising number of research & development (R&D) activities to come up with innovative technologies such as integration of equipment for grinding, blending, and slicing are set to push growth.
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Companies are nowadays developing only one machine for operating multiple tasks at once to maintain hygiene levels and save overall transfer costs. Besides, cutting-edge butcher equipment is increasingly finding applications in several fast-food outlets across the globe to cater to rising consumer demand.
Renowned fast-food outlets, including Taco Bell, KFC, McDonald’s Corporation, and Domino’s are expanding their businesses to various countries worldwide, which is further pushing the need for new equipment. Governments of various countries are also implementing strict regulations to maintain the proper transportation of human and animal food.
Key Takeaways from the Butcher Equipment Market Study:
- The global butcher equipment market exhibited steady growth at a CAGR of 2% during the historical period (2018-2022).
- The butcher equipment market in the U.S. is set to be worth US$ 801 Mn and account for a share of nearly 68% in North America during the forecast period.
- The U.K. butcher equipment market is anticipated to create an absolute dollar opportunity of US$ 218.2 Mn during the evaluation period.
- The China butcher equipment market is set to be worth around US$ 178.6 Mn and generate 32% of share in Asia Pacific in the next ten years.
- The global butcher equipment market is expected to rise at a CAGR 4% in the forecast period.
Competitive Landscape: Butcher Equipment Market
Key players present in the global butcher equipment market include GEA Group, JBT Corporation, Marel, Illinois Tool Works, and Bettcher Industries. North America currently holds the largest market share, and this region is expected to continue to expand during the projection period.
This can be mainly attributed to the region’s growing population and rising disposable income levels. Furthermore, the North America butcher equipment market is expected to increase in the next ten years due to the presence of a favorable legal and regulatory environment.
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