Over the past five decades, American diets have shifted toward poultry. And today, poultry (mainly chicken) makes up roughly half of the meat Americans eat. This consumption pattern, which is being echoed around the world, will help the poultry processing equipment market to reach $4.11 billion over the next five years.
Key factors in the demand for poultry
According to “Poultry Processing Equipment Market, Global Forecast to 2022,” a market research report recently commissioned by FPSA, several trends are contributing to higher demand for poultry products:
- Increasing middle class income — Higher incomes mean more spending. Especially in Asian countries, incomes are rising, which is paving the way for increased spending on food.
- Urbanization and busy lifestyles — These trends are spurring demand for convenient (i.e., ready-to-cook and ready-to-eat) foods with enhanced nutrient content (i.e., protein-rich).
Though these trends can be seen around the world, they are especially apparent in countries of the Asia-Pacific and South America.
Opportunities for poultry processing equipment manufacturers
Besides growth in the overall poultry market, additional factors are creating opportunities for poultry processing equipment manufacturers:
- Growth of fast food and restaurant chains — Multinational chains are expanding across the globe. This means higher demand for equipment that can produce standard cuts and identical fillets in a high-throughput environment.
- Safety regulations — It isn’t just FSMA. Regulatory agencies around the world are focusing on food safety, which is putting pressure on processors to upgrade their equipment.
All of these forces are driving poultry processors toward more advanced, more automated solutions.
Similar to the processed meat market, the fastest-growing segments in poultry processing will be equipment used for fresh processed and raw cooked products.
Globally, while North America as a whole will continue to account for the largest share of the poultry processing equipment market, the fastest growth rate will be in Mexico, which is expected to grow at a CAGR of 6.9% per year, followed by India (5.9%), Thailand (5.5%), Egypt (5.4%), and Australia (5.4%).
Overall, we expect the poultry and poultry processing equipment markets to experience healthy growth rates — in every sector and across the globe. That’s good news for processors, suppliers, and consumers alike.
The full global trends and forecast report is available for free to FPSA members. Non-member companies may also purchase a copy of the report. Request your copy here.