According to the current analysis of Reports and Data, the global Food Automation Market valued at USD 9.08 Billion in 2018 and is expected to reach USD 15.78 Billion by the year 2026, at a CAGR of 7.1%. Automation has now become a necessity in the food and beverage (F&B) industry to maintain quality, to enhance production speed, to cooperate with the labor shortage. Rising demand for food automation due to rapid industrialization and urbanization is driving growth for the market. Moreover, the expansion of the food and packaging industry is expected to support industrial growth. Stringent government regulations regarding food safety are boosting demand for automation to maintain the quality of the product and efficiency of the food manufacturing process.
The key market players are focusing on various strategies such as mergers, partnerships, acquisitions, and new product launches to maintain their position. For instance, in 2016, CTB acquired a majority share in Cabinplant, a global provider of tailor-made processing solutions for the F&B industry. In November 2017, researchers at Harpers Adams University in the United Kingdom completed the Hands-Free Hectare project, during which nearly five tons of spring barley was successfully planted, tended, and harvested by autonomous vehicles and drones.
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North America accounted for a share of 25.6% of the industry in 2018 and is projected to grow significantly in the forecast period. The presence of key players including Rockwell Automation, Inc., Fortive Corporation, Emerson Electric Co. and Rexnord Corporation to name a few is likely to influence growth. In addition, regulatory support through acts such as the FDA Food Safety Modernization Act (FSMA) is also expected to create growth opportunities.
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Further key findings from the report suggest
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For the purpose of this study, Reports and Data have segmented the Food Automation market on the basis of type, function type, application, and region:
Type (Revenue, USD Million; 2016–2026)
Function Type (Revenue, USD Million; 2016–2026)
Application (Revenue, USD Million; 2016–2026)
End Use (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
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