The poultry processing equipment market is projected to reach USD $3.83 Billion by 2020, at a CAGR of 4.7% from 2015 to 2020, according to a recent market report.
The poultry processing market is driven by factors such as increased consumption of processed food, the government support for the use of equipment in developing countries, the demand for food safety, safety of workers, environment and sustainability, the Markets and Markets report states.
In addition the presence of small and medium enterprises in developing countries, rising raw material costs, and international trade rules are also contributing to this growth.
Killing & de-feathering dominated the poultry processing equipment market among other equipment. This market is projected to grow at the highest CAGR from 2015 to 2020 as it is 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 of the preferences of the consumers towards value added food. The Asia-Pacific region, which includes countries such as China, Japan, India, Thailand, and Vietnam have witnessed an increase in the consumption rate of meat. As observed over the last decade, the demand for animal protein in these countries has increased and has become important due to the current busy life styles.
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. 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, they 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 to 2020.
The full report can be accessed here.