Food & Agriculture Technology and Products Market

Food & Agriculture Technology and Products Market Insights

Products produced and technologies used in food & agriculture industries are vast concerning the global demand. Modern technologies like IoT, artificial intelligence is used in agriculture & the food industry to monitor, track, identify, and control the services. Whereas the produces included meat, poultry, seafood, cereals, fruits, vegetables, and many more. The introduction of technology in the agriculture and food sector has benefits like reliable data, lower manpower requirements, and produce/crop security. Furthermore, the transition to the COVID19 lifestyle has positively impacted the market with the implementation of modern technologies and the rise in user demands. Therefore, it is reliable to predict that the market will notice a colossal ascent with respect to sales and revenue in the forecast period.

Even though, perpetual internet accessibility, the initial cost of deployment, and literacy about modern technologies may be a tedious job at the initial stages but, consistent support from the government, Rapid research & development activities in the food & agriculture industry, and constant capital investments to meet consumer needs are predicted to be the exemplary drivers assisting the global food & agriculture technology market

Food & Agriculture Technology and Products Market: By Type of Industry

Animal industry, agriculture industry, cold chain, food & beverages, and others are the various types of industries witnessed in the global market.

Animal genetics, animal health, and aquaculture products are the classifications of the animal industry. Similarly, pre-harvest equipment, grow lights, smart agriculture technology, indoor farming technology, and autonomous tractors are the diverse industries under agriculture. Likewise, refrigerated transport and refrigerated storage are the industries by cold chain segment. Furthermore, food & beverage processing equipment, algae products, traceability technology, cultured meat products, food safety technology, and plant-based protein products are the sorts of industries based on food & beverages.

The segment to account for the largest market size is the cold chain industry and the agriculture industry is estimated to be the second-largest revenue maker for the food & agriculture technology and products market in the outlook period. Cold chain technology revolves around the storage of food substances at a certain low temperature to maintain its longevity, taste, and nutrients for a longer period. Demand for perishable goods, progression in exports & imports, and a rise in retail stores for easier produce availability are the main prominent factors navigating the market for more sustainable growth. Nonetheless, agriculture can be described as the practice of farming that includes soil nourishment for the cultivation of crops and rearing of domestic animals for dairy and meat produce. The popularity of the agriculture industry can be associated with the implementation of smart technologies, greater end-user demand, and higher energy demand.

Food & Agriculture Technology and Products Market: By Region

Amongst multiple topographical regions across the globe such as Europe, Latin America, and many other continents, North America has been the foremost region for the preceding years but, the Asia Pacific region is regarded to illustrate phenomenal inflation throughout the prediction time. Higher consumption of seafood and processed meats is one of the major factors that is helping to create vast possibilities for the global market. Growing awareness regarding organic foods also plays its part to activate the burgeoning of the market as well as the expansion of the online and offline retail market to increase sales revenue is also an accelerator for the global market respectively.

Food & Agriculture Technology and Products Market Share and Competitor Analysis

Deere & Company, Groupe Grimaud, Daikin, ADM, Evonik, DSM, SGS SA, Zoetis, GEA, Pentair, Intertek, Genus, United Technologies, Signify Holdings, Canopy Growth Corporation, Neogen, AKVA Group, Eurofins, Americold Logistics, and MosaMeat, and other industries are the dominant players in the global food & agriculture technology and products market.

Please note: This is not an exhaustive list of companies profiled in the report.