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SOURCE Research and Markets
DUBLIN, Jan. 8, 2014 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/mzpns9/processed_meat) has announced the addition of the "Processed Meat & Meat Processing Equipment Market by Meat Types, Product Types, Equipment & Geography - Global Trends & Forecasts to 2018" report to their offering.
Across the globe people are becoming increasingly concerned about the safety of the food that they intake. Consumers are now more inclined towards selecting protein rich food especially those with increasing income in developing countries. Hence, the demand for meat is growing. With increasing incomes and busy schedules, convenience food is becoming popular among the working class. Consumers prefer ready-to-eat and ready-to-cook meat products with great quality and taste as their priority. Hence, processed meat is gaining popularity and its market is increasing worldwide. The global market is estimated to grow at a CAGR of 14.3% from 2013 to 2018, reaching $799,051.2 million by 2018.
The global market has grown slowly but steadily during the last few years and a similar trend is expected to continue in the near future. The market was worth $7,656.5 million in 2012, and by 2018 it is projected to be $11,495.3 million. This market is growing with a CAGR of 7.2% from 2013 to 2018. Leading companies are focusing on launching new products for expansion of the business in local as well as foreign markets. Acquisition is the most preferred growth strategy after new products launch.
North America and Europe are the leading consumers of meat processing equipment, together accounting for around 66% of the consumption on a global scale. Asia-Pacific is estimated to be the fastest growing region in terms of revenue. Growth is particularly high in countries such as China, Japan, India, New Zealand, and Thailand. The meat processing equipment market consists mainly of equipment such as cutters, blenders, tenderizing equipment, filling machines, dicing, grinding equipment, smoking equipment, and massagers. Cutter equipment has the largest share in the market consisting of 18% of the total market share in 2012.
The global market is driven by many factors such as growing population and increase in demand and consumption of processed food, new technological innovations, and government support in developing countries. The main obstacles in the growth of the market are the lack of awareness of meat processing mechanization among the processed meat producers. Other reason which restricts the growth of this industry is small and medium meat producing companies in developing countries.
Key Topics Covered:
2 Executive Summary
3 Premium Insights
4 Processed Meat - Market Overview
5 Meat Processing Equipment - Market Overview
6 Processed Meat Market, By Types
7 By Product Types
8 By Geography
9 Meat Processing Equipment Market, By Types
10 By Geography
11 Competitive Landscape
12 Company Profiles
13 Competitive Landscape
14 Company Profiles
For more information visit http://www.researchandmarkets.com/research/mzpns9/processed_meat
Laura Wood , +353-1-481-1716, firstname.lastname@example.org
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