Press release
Global Food Automation Market Size USD 15.26 Billion by 2025 | Major Players in the Market ABB Ltd, Emerson Electric Company, Fortive Corporation, GEA Group, Rockwell Automation, Inc.
Global Food Automation Market
In the year 2016, Global Food Automation Market was valued at USD 8.25 Billion. By the year 2025, it is expected to reach USD 15.26 Billion at a growing CAGR of 7.07%.
Food automation simplifies the food packaging process which includes food sorting, packing and managing processes. The adoption of automation in the food industry is imperative due to the increasing demand for quality, productivity, and profitability. Food automation improves product quality, process efficiency, and saves labor charges and helps in maintaining standardization and quality of food which increases the brand value of food products. This food automation process is mainly implemented in small or large-scale industries with help of machinery or robotic technologies which results to minimum wastage of resources, and increase the production in the food and beverages industries.
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Underlying Causes
The Global Food Automation Market is mainly driven by the factors like increasing food safety regulations, rising demand for processed and advanced packaged foods, various technological advancements in the food industry, growing demand to improve productivity, and rising demand for reducing production cost. However, huge investment associated with installation of automation equipment and lack of skilled professionals are the major factors restraining the growth of Food Automation Market during the forecast period.
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Geographic Segmentation:
Based on geography the Food Automation Market has been primarily divided into Asia Pacific, Middle East and Africa, North America and Latin America. North America holds the largest market share in the Global Food Automation Market followed by Europe due to growing demand for product integrity and food safety by consumers, increasing utilization of automation machinery to meet the stringent criteria enforced by Food and Drug Administration (FDA) and the U.S. Department of Agriculture. The Asia-Pacific region is rapidly growing due to increasing number of manufacturers operating in the food and beverage industry, increasing investments for food processing technologies to improve food security and enhance productivity which is expected to contribute high growth rate for Food Automation Market during the forecast period. Latin America and Africa region may have lucrative growth due to increasing urbanization population and rising disposable incomes of the population during the forecast period.
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Key Players:
Leading companies for Global Food Automation Market are ABB Ltd, Emerson Electric Company, Fortive Corporation, GEA Group, Rockwell Automation, Inc., Mitsubishi Electric Corporation, Nord Drivesystems, Rexnord Corporation, Schneider Electric SE, Siemens AG, Yaskawa Electric Corporation, and Yokogawa Electric Corporation.
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