The Booming North America Poultry Processing Equipment Market and Opportunities for the Vendors:
Amidst the proliferating vegan wave in the North America countries wherein a myriad of people is believed to have turned towards the plant-based diet, it’s interesting to note that Animal Charity Evaluators conducted a survey that suggests that 2-6% of Americans self-identify themselves as vegetarians. While this may hold to be acting against the poultry industry, another revelation offers an oppositional reading. Out of all the Americans that claim to be vegetarians, 60% are still found to be consuming meat and poultry products. This is to say that despite the growth of a seemingly turning vegetarian population in America, the market for non-vegetarians products remains sustainable, and it includes poultry products that are ingredients of a variety of foods.
Owing to the consistent demand for poultry products in the region, North America held the maximum poultry processing equipment market share with 36% in 2018. The growth prospects for the poultry processing equipment market players in North America can be perceived by glancing through the scope for profitability in major markets of the US, Mexico, and Canada.
- The Poultry Growth in the US and the Impact on the Poultry Processing Equipment Market –
According to the National Chicken Council, per capita consumption (in pounds) of poultry products 94.7 in 2000 and the figure catapulted to 100 in 2018. This evinces the growth of the poultry industry in the US, which is increasing the US poultry processing equipment market size.
Furthermore, the latest 2012 Census of Agriculture had reported that there were 233,770 poultry farms in the US. With the increase in the demand for poultry products, this number has undergone an increment over the last 5 years. This increase in the end-user base in the US is bringing more opportunities on the table for the vendors.
- The Scenario of Poultry Industry in Mexico –
According to the Organisation for Economic Co-operation and Development (OECD), the expansion in the consumption of chicken will continue in Mexico, and by the end of 2025, the demand will increase at a rate of 20%. While this will positively influence the local poultry farms, it will also create a massive impact on the US poultry industry, because Mexico imports a humongous amount of poultry products such as chicken, turkey, and broiler from the US. This increasing demand for chicken in Mexico will further expand the poultry processing equipment market scope in North America.
- Canada Poultry Processing Equipment Market Demand Analysis –
According to the findings by the government of Canada, the country houses 2,877 regulated chicken, 531 registered turkey, 243 broiler chicken, and 1,143 egg producers in 2018. Furthermore, Canada produced poultry and egg products worth $4.6 billion during the year. The egg and chicken production in massive quantity in various poultry farms creates a sustainable poultry processing equipment market demand in the country.
The sustainable demand for poultry processing equipment in the aforementioned countries resonates with the notably rising import of goods belongs to the parent industry.
Poultry Processing Equipment Market – Global Scenario & Growth Drivers:
- The Growing Number of Non-Vegetarians in the Developing Countries –
The number of non-vegetarians in developing countries is growing continuously, especially due to the rise in disposable income, which is making the poultry products affordable to the residents. This is translating to the profitable growth of the poultry industry in APAC countries such as China, India, Indonesia, and others. For instance, the Food and Agricultural Organization (FAO), poultry production in India has been continuously rising at around 8% per annum with an average annual turnover of $7.5 billion in the last 2-3 decades. This evinces the growth of the poultry industry and an increase in the number of poultry farms which make up for a profitable poultry processing equipment marketplace for the vendors. The upcoming years foresee further development of the poultry industry in the developing countries, which will expand the poultry processing equipment market size.
- The Key Application in the Poultry Processing Equipment Market – Killing and De-feathering:
The most lucrative application segment in the poultry processing equipment market is killing and de-feathering equipment, and it is poised to grow at a CAGR of 4.8% through to 2025. While the vendors will be venturing into this segment, it is important to note that the quality of plucking will hold utmost importance to the end-users or poultry farms.
- Sustainable Development Goals (SDGs) by the United Nation (UN) to Drive the Market –
One of the major objectives in the SDGs by the UN is to ameliorate the global nutritional deficiency, which will lead to an expansion of the food industry at large. The poultry industry will be experiencing collateral profitability during this development, which is going to offer opportunities to the associated markets that include poultry processing equipment market.
Poultry Processing Equipment Market – Competitive Landscape:
The major poultry processing equipment market players that are striving to capitalize on the rising requirement from the poultry farms are Marel, Key Technology Inc., John Bean Technologies Corporation, CTB Inc., BAADER Food Processing Machinery Inc., Brower Equipment Sales, Inc., BAYLE SA, CG Manufacturing and Distributing, Inc., Prime Equipment Group, Inc., and Brower Equipment.
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