The slaughtering equipment market is projected to reach USD 8.28 Billion by 2023 from USD 6.62 Billion in 2018, growing at a CAGR of 4.56%. Increase in demand for processed meat, lenient trade policies, and an increase in meat exports are some of the major factors that are expected to drive the demand for slaughtering equipment.
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North America is expected to account for the largest share in the global slaughtering equipment market through 2023, owing to urbanization and growth of fast food and restaurant chains. Industry players in the North American region address consumer demand for processed meat to cater to the demand of various consumers in the region. This has resulted in the innovation of various slaughtering equipment such as stunners and deboning & skinning equipment by various companies. Manufacturers in the US are utilizing an optimized approach to deliver slaughtering equipment on time in order to meet the demand for meat products in the market
Asia Pacific is projected to be the fastest-growing region in the global slaughtering equipment market during the forecast period, owing to the rise in meat consumption, population growth, and increase in awareness about quality and hygienic meat products in the region. High consumption of meat in urban areas and the increase in demand for processed meat products drive the growth of the market for slaughtering equipment in the region.
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The key players in the global slaughtering equipment market include Marel (Iceland), BADDER Group (Denmark), BAYLE SA (France), Prime Equipment Group (US), CTB (US), Brower Equipment (US), Jarvis Equipment (India), Industries Riopel (Canada), ASENA (Azerbaijan), Dhopeshwar Engineering Private Limited (India), Meatek Food Machineries (India), BANSS (Germany), Limos (Slovenia), Best & Donovan (US), and Blasau (Spain).
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