LONDON, Nov. 28, 2016 /PRNewswire/ -- "Meat processing equipment market is projected to grow at a CAGR of 7.03%"The meat processing equipment market, estimated at USD 9.63 billion in 2016, is projected to grow at a CAGR of 7.03%, to reach USD 14.59 billion by 2022. The market is primarily driven by factors such as increased demand for processed meat products and rising safety regulations generating the need for sophisticated equipment. The high growth potential in the Asia-Pacific and Rest of the World region and untapped regions provide new growth opportunities for the market players. One of the major restrain in the growth of the meat processing equipment market is increasing cost of raw materials and logistics. "Smoking equipment segment is projected to grow at fastest CAGR"On the basis of type, the meat processing equipment market was led by the smoking equipment segment, followed by filling equipment and tenderizing equipment, respectively. There is an increasing trend towards usage of smoking equipment, this is due to its feature to improve the flavor as well as longevity of the meat product such as smoking meats, smoking sausages, and smoked meat. "Processed beef segment projected to be the fastest growing market, during the forecast period"The processed beef segment is projected to be the fastest growing segment, during the forecast period. Due to the rising awareness towards healthiness of eating beef and nutritional benefits of beef consumption, companies are focusing on developing and marketing ready-to-eat beef products that meet consumer nutrition, taste, and food safety needs and thus drives the market for meat processing equipment industry.