LONDON--(BUSINESS WIRE)--The latest market research report by Technavio on the global meat slicers and grinders market predicts a CAGR of around 7% during the period 2018-2022.
The report segments the global meat slicers and grinders market by product (meat grinders and meat slicers), by end-user (commercial and residential), and by geography (the Americas, EMEA, and APAC). It provides a detailed illustration of the major factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Here are some key findings of the global meat slicers and grinders market, according to Technavio researchers:
- Increased consumption of meat by athletes: a major market driver
- In 2017, the commercial end-user segment dominated the market by occupying almost 72% share
- The Americas dominated the global meat slicers and grinders market with 44% share in 2017
- BIRO Manufacturing Company, Butcher Boy Machines International, Globe Food Equipment, Hobart, and Simran are the leading players in the market
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Increased consumption of meat by athletes: a major market driver
The increase in demand for meat slicers and grinders can be attributed to the rise in consumption of meat by athletes. The high rate of consumption of meat-based food by athletes across the globe is due to the presence of vital nutrients such as iron and zinc. The lack of nutrients in vegetarian diets is compensated with the consumption of meat, which contains protein, B vitamins, iron, and zinc. The intake of beef leads to the absorption of nutrients such as niacin, riboflavin, thiamin, and vitamin B6 into the athlete's body. Pork is an excellent source of thiamin and iron.
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Americas: largest meat slicers and grinders market
The demand for meat slicers and grinders is growing at a steady pace in the Americas. The increased demand for processed meat in the region contributes to a corresponding demand for meat slicers and grinders. Countries such as the US, Canada, and Brazil are the major contributors in the Americas. Due to the increasing demand for processed meat, the contribution from the aforementioned nations is increasing significantly. The expanding processed meat and food market has raised the need for meat processing equipment, further driving the demand for meat slicers and grinders.
According to a senior analyst at Technavio for research on home, kitchen, and large appliances, “The growth of the market in the Americas is contributed by the demand for processed meat and meat-grinding equipment in multiple sub-regions. The increase in demand for meat slicers and grinders in the region can be attributed to urbanization, population explosion, and lifestyle evolutions. The intake of processed meat is high in the Americas owing to its high-protein content. This too has accelerated the demand for meat slicers and grinders in the region.”
Competitive vendor landscape
The global meat slicers and grinders market was moderately fragmented in 2017. The market is expected to be fragmented to a higher degree by 2022. The presence of multiple global and regional players is the key reason for the fragmentation of the market. The existing vendors in the market invest huge amounts of capital in building infrastructure for manufacturing slicers and grinders. Vendors invest in technology and in R&D that contributes to product innovation and expansion of their product base. The global meat slicers and grinders market is a labor-intensive market. However, automation of the industry has led to decreased dependency on labor. Product quality, price, and innovations are the basis of differentiation in the market.
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