The market for food processing solutions, software and services for the three key proteins, poultry, meat, and fish, is expected to grow by 4-6% in the long-term. We believe the market growth will be at a level of 6-8% in the medium-term (2021-2026) due to catch-up effect from the past five years and a very strong tailwind in the market today accelerated by the pandemic.
With Marel’s portfolio of solutions and services, we are uniquely positioned to curb and support the global macro-trends driving the demands from our customers—and their customers. The growth drivers in Marel’s addressable market include continued focus on automation to combat labor shortages and increased costs, demand for flexibility to match changing consumer preferences with different products, and increased focus on sustainability where food safety, traceability, and the efficient use of resources are becoming key priorities. Marel’s three strategic growth pillars: customer focus, best-in-class products and technology, and people and culture, address these drivers.