Global Food Automation Market Projected to Reach USD 16,674 Million By 2027: Facts & Factors

Food Automation Market

Food Automation Market

Global food automation market expected to reach a value of around USD 16,674 million by 2027, at a CAGR of around 6.8% between 2019 and 2027.

NEW YORK, NEW YORK, UNITED STATES, February 5, 2020 /EINPresswire.com/ -- Facts and Factors Market Research has published a new report titled “Food Automation Market By Offering (Solution and Services), By Food Industry Type (Bakery & Confectionery, Dairy, Grains & Oils, Beverages, Dairy Alternatives, Meat Substitutes, Meat & Poultry, and Pet Food), By Application (Biopackaging, Sorting, Packaging, Picking, Palletizing, Processing, and Others), and By End-User (Logistics Providers, Food Manufacturers, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027.”

According to the report, the global food automation market was valued approximately USD 9,247 million in 2018 and is expected to reach a value of around USD 16,674 million by 2027, at a CAGR of around 6.8% between 2019 and 2027.

Food automation has various applications in the food industry, such as pick and place, delicate handling, packaging, robotic cutting & slicing, etc. Its ability to replicate the quality and appearance of food items with the exact required amount of quantity is the most profitably the food industry conducts its operations. The growing need to automate the food industry is due to food automation’s various other benefits, such as improved quality, profitability, and productivity, irrespective food product type and packaging type. These smart-systems provide quality assurance, consistency, real-time monitoring, and transient variations in product variables. These computer-controlled plant operations further have the ability to store and process huge volumes of data. Food automation, additionally, helps in complying with various food safety and environmental regulations.

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Increasing ready-to-eat food products demand majorly driving the food automation market

Rapid urbanization and long working hours have propelled the demand for ready-to-eat packaged food. This preference shift of consumers is due to the lack of time in their busy lives. The demand-supply gap of the packaged food has to be bridged, so as to keep the ready-to-eat packaged food market strong. Thus, this rising demand for packaged food is a prominent driver of the food automation market. The ready-to-eat food items require quality packaging, and food automation provides efficiency along with accuracy in both quantity and quality of packing these food products.

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Beverages segment is projected to dominate the application segment

The beverages segment is projected to dominate the food automation market in the years ahead. This domination can be attributed to the rising complexities in the production processes of various beverages, constant technical advancements, and consistent new product launch. By completely vertical integration of beverage production processes with the help of adopting process computerized solutions alongside value chain optimization is also driving this segment. The beverages segment was valued USD 2,603 million in the year 2018 and will grow rapidly till 2027.

The packaging segment is likely to register the highest CAGR in the future

Based on revenue, the packaging segment will be the fastest-growing in the future. This can be due to the rising number of health and safety concerns of global consumers. Manufacturers will progressively invest in technological developments like automated packaging systems. The growing need to overcome the challenges related to sustaining product quality and safety will also drive the packaging segment of the food automation market in the years ahead.

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Europe leads the global food automation market

Europe was the largest food automation market in the year 2016, due to the high demand for processed nourishment products, especially in the countries of Spain, Italy, Germany, the UK, and France. Moreover, the stringent regulations imposed by several regional regulating bodies regarding the quality of processed nourishment products will fuel the European food automation market over the forecasted timeframe. The region is likely to register a CAGR of 7% in this market in the years ahead.

Key players operating in the food automation market are Mitsubishi Electric, Emerson Electric, Kollmorgen, McEnery Automation, GEA Group, Rockwell Automation, Rexnord Corporation, Fortive, Premier Automation, Olympus Automation, Schneider Electric, FANUC CORPORATION, FMI, Matrix Technologies, Benchmark, Siemens, and ABB, among others.

This report segments the food automation market into:

Global Food Automation Market: By Offering

Solution
Services

Global Food Automation Market: By Food Industry Type

Dairy
Bakery and Confectionery
Grains and Oils
Meat and Poultry
Beverages
Meat Substitutes
Pet Food
Dairy Alternatives

Global Food Automation Market: By Application

Processing
Packaging
Palletizing
Picking
Sorting
Biopackaging
Others

Global Food Automation Market: By End-User

Food Manufacturers
Logistics Providers
Others

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