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Food & Agriculture Technology and Products Market Size, Share & Trends Analysis - Global Opportunity Analysis and Industry Forecast 2030

Food & Agriculture Technology and Products Market Size, Share &...

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Food & Agriculture Technology and Products Market Size, Share & Trends Analysis - Global Opportunity Analysis and Industry Forecast 2030
Food & Agriculture Technology and...
Report Code
RO13/107/1948

Publish Date
23/Jun/2022

Pages
210
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The global food & agriculture technology and products market size was US$ 541.1 billion in 2021. The global food & agriculture technology and products market is forecast to grow to US$ 1,311.1 billion by 2030 by registering a compound annual growth rate (CAGR) of 9.9% during the forecast period from 2022 to 2030. 
Food and agricultural technologies are specifically used to create food and farm machinery. Moisture and temperature sensors, robots, aerial photography, and GPS technology are all used in agricultural activities and for food production. Various modern technologies and robotic systems are used to develop businesses that are efficient, safe, and environmentally friendly. Harvest automation, autonomous tractors, seeding and weeding, and drones are some of the most common agricultural technologies used by farms.

Factors Influencing the Market
Rising demand for agricultural production will primarily drive the growth of the global food & agriculture technology and products market. Furthermore, the increasing global population is driving the demand for food products. As a result, it will contribute to the growth of the global food & agriculture technology and products market during the study period. 
Modern agricultural technologies are being used on a larger scale by farms to boost crop production. Moreover, governments across developing countries are offering favourable incentives to support farmers. Thus, it will considerably strengthen the scope of the food & agriculture technology and products market in the coming years. 
Growing consumer capacity and increased consumer awareness about food safety will also drive the demand for food & agriculture technology and products market during the forecast period. 
The growing range of technological advancements is expected to accelerate the growth of the market. In addition, a reduction in prices will bring lucrative growth opportunities for the food & agriculture technology and products market growth. In addition, rising awareness about the smart farming technologies, majorly for end-to-end farm management, greenhouse automation, livestock monitoring, etc., will benefit the food & agriculture technology and products market during the study period. 
However, high costs associated with the food & agriculture technology and products may limit the growth of the market.

COVID-19 Impact Analysis
The COVID-19 outbreak increased the demand for farming practices, which surged the demand for food & agriculture technology and products across developed states. However, the high cost of food & agriculture technology and products acted as a major restraint in the industry growth during the study period.

Regional Analysis
The Asia-Pacific food & agriculture technology and products market is forecast to register remarkable growth in the coming years. It is majorly attributed to the growing disposable income and changing living standards of people. Furthermore, rising awareness about urban farming methods and the benefits of advanced technology in farming practices will contribute to the growth of the food & agriculture technology and products market. Further, rising urbanization and hectic lifestyle will drive the demand for convenience food items, which will offer lucrative growth opportunities for the market.

Competitors in the Market
• Daikin
• United Technologies
• ADM
• Evonik
• Deere and Company
• Zoetis
• Pentair
• Intertek
• Signify Holdings
• SGS SA
• Neogen 
• Other Prominent Players

Market Segmentation
The global food & agriculture technology and products market segmentation focus on Industry, Technology, and Region. 
By Industry  
• Animal
• Agriculture
• Cold Chain
• Food & Beverage
• Cannabis
By Technology  
• Cold Chain Technology
• Food & Beverages GPS Technology
• Satellite Imaging Technology
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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