Food Automation Global Market Size is Expected to Grow $22.64 Billion By 2028 with CAGR of 10.6% | Major Players: ABB Group, GEA Group AG, Mitsubishi Electric Corporation, Rexnord Corporation, Rockwell Automation Inc.

The Business Research Company presents an extensive market research report on the ""Food Automation Global Market Report 2023,"" furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Food Automation industry. This report on Food Automation market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The food automation market size has grown rapidly in recent years. It will grow from $13.61 billion in 2023 to $15.15 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increased consumer demand for processed and convenience foods, focus on improving operational efficiency and productivity in food processing, rise in labor costs and workforce availability challenges, need for reduced waste and enhanced production yield in food manufacturing, adoption of automation for traceability and compliance. The food automation market size is expected to see rapid growth in the next few years. It will grow to $22.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%.

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Key Market Players:
ABB Group, GEA Group AG, Mitsubishi Electric Corporation, Rexnord Corporation, Rockwell Automation Inc., The Progressive Corporation are prominent players in the Food Automation industry.

Market Drivers:
The rising adaptability of automation is expected to propel the food automation market. The rapid push toward automation technology and increased expectations of consumers and regulatory agencies for better product quality and safety has in the increased adoption of automation across industries. It will provide with an effective and efficient solution in the food industry for better food quality, maximum productivity, and profitability with ensured safety using automation technologies to streamline various activities from food processing operations to packaging, reducing the manual effort, increasing safety and maximizing profits. For instance, in December 2021, according to the International Federation of Robotics (IFR), the steady growth of industrial robots reflects the adoption of automation in food and beverage manufacturing, with the total global operational stock of robots increasing by 8.6% in 2020.

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Market segments for Food Automation include:
1) By Type: Motors And Generators, Motor Controls, Discrete Controllers And Visualization, Rotary Products, Linear Products, Other Types
2) By Operation: Semi-Automatic, Fully Automatic
3) By Component: Plant Instrumentation, Plant-Level Controls, Enterprise-Level Controls
4) By Application: Bakery Products, Drinks, Candy, Snacks, Fruits And Vegetables, Meat, Other Applications

The report answers the following questions:

What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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