[223+ Pages Report] The latest finding surrounding the “Global Food Automation Market” has recently been published on Facts and Factors in a neatly packaged and comprehensive read. We at Facts and Factors estimate that the market surrounding food automation will reach a projected value of USD 18.2 Billion in the year 2026 with a growth rate of 8.8% CAGR from an initial value of USD 12.5 Billion in the year 2020.
Automation is the process of ranging various technological suites by reducing human intervention measures and further work at reducing the latter to a minimum. Human intervention processes are the set of rules that combine additional factors such as decision criteria, subprocess relationships, and relatable actions. Automation is the process of embedding these factors within machines. Food automation refers to the independent working that includes various processes such as agricultural products into food, grinding grains into flour, reducing wood waste measures, and reducing environmental impacts by improving food security to name a few.
The global food automation market is expected to increase its bandwidth during the forecast period owing to changing consumer demands such as fast, affordable, and easily accessible food articles coupled with increasing options arising from the food and beverage industry to name a few. Additionally, rising number of vendors increasing automation technologies into their production measures for scaling solutions and rising demands of automated equipment such as robotic systems is expected to boost the sales of the global food automation market during the forecast period. Technological advancements surrounding the sector and increasing range of stringent regulations aiding additional food safety and regulation norms will increase revenue opportunity for the global food automation market during the forecast period.
Recognizance of factors higher efficiency and time saving benefits of a carefully implemented automated system by manufacturers is expected to increase the footprint of the global food automation market during the forecast duration. Rising demand and increased investment opportunities from sectors pertaining to beverage, dairy, and food processing is expected to boost the growth of the global food automation market during the forecast. Digitization initiatives by various government bodies and increasing need of consistently produced food articles will fuel the growth of the global food automation market towards a new boundary. Added integration of technologies such as IoT, blockchains, analytics and AI will increase the penetration of the global food automation market during the forecast duration. However, a high cost of implementation and a lower amount of skilled labor is expected to hamper the growth of the market to a certain extent.
The global food automation market can be segmented into type, function, application, and region. On the basis of type, the global food automation market can be divided into motor controls, discrete controls and visualization, rotary products, linear products, and others. The segment pertaining to motor control is expected to witness the largest market share during the advent of the forecast owing to increased functionality of the included motors coupled with rising technological awareness among the products. Additional factors for the dominant position of the segment can be attributed to the rising demand of linear control for automation purposes coupled with multifunctional nature of the latter. On the basis of function, the global food automation market can be broken down into sorting & grading, picking and placing, palletizing, processing, packaging & repackaging, and others. The segment pertaining to packaging and repackaging segment is expected to witness the largest market share during the advent of the forecast owing to rising health and safety concerns among consumers and increased production of application-specific robots compiled by the industry to name a few. Additionally, increased demand for the food and beverage sector and an ever-growing population of health-conscious consumers will increase the market value for the latter segment during the forecast period. On the basis of application, the global food automation market can be divided into meat, poultry, seafood, fruits and vegetables, confectionery, bakery, beverages & distilleries, and others. The segment pertaining to beverages and distilleries is expected to withhold the largest market share during the advent of the forecast owing to increased digitization of the beverage sector coupled with increased adoption of ERP and SCADA solutions being introduced to the sector to name a few. Additionally, increased advancements in the products and rising integration of computerized solutions is expected to push the latter segment to a dominant market segment during the forecast period.
|Market Size in 2020||USD 12.5 Billion|
|Projected Market Size in 2026||USD 18.2 Billion|
|CAGR Growth Rate||8.8%|
|Key Market Players||GEA Group, Fortive Corporation, Yaskawa Electric Corporation, Rexnord Corporation, Emerson Electric Co., and Others|
|Key Segments||Types, Functions, Applications, and Region
|Major Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
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Asia-Pacific is expected to witness the largest market share during the advent of the forecast in terms of global revenue contribution. Factors contributing to presence of emerging economies such as India and China coupled with major robotic industry prowess among the region of Japan is expected to emerge as the factors for the dominant market position of the region for the duration period. Additionally, increased export conditions and rising F&B industry among India, China, and Australia is expected to increase the sale pertaining to food automation equipment in the region to a higher scale. Additionally, the rising government regulations and increasing standards for packaged food articles in terms of consumer safety is expected to increase the adoption rate of food automation measures among the region. Increasing disposable income among consumers and improved standards of living among the population will further increase the footprint of the food automation market in the regions.
The key participants for the global food automation market are Rockwell Automation, Inc., ABB Ltd, Siemens AG, Mitsubishi Electric Corporation, Schneider Electric SE, Yokogawa Electric Corporation, GEA Group, Fortive Corporation, Yaskawa Electric Corporation, Rexnord Corporation, Emerson Electric Co., Nord Drivesystems, Honeywell International, JLS Automation, Falcon Autotech Pvt. Ltd, and Food Automation Pty. Ltd, among others.
Global Food Automation : Regional Segment Analysis
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