Food Automation Market is Projected to Increasing at a CAGR of 7.60% by 2029

 

The food automation market is projected be increasing at a CAGR of 7.60% from 2022 to 2029, and is anticipated to reach USD 14.47 billion by that year. The market for food automation will increase at a rapid rate thanks to the internet of things' (IoT) clever advancement as well as consumers' and monitoring companies' significant potential for better food quality standards and safety.

The market for food automation will be driven by the increased use of digitalization initiatives. Additionally, rigorous international laws governing food safety and rising health consciousness are macroeconomic variables that favourably affect the global food automation industry. Rising technical innovation in automation is another important element that will hasten the market's rate of expansion for food automation. Increased urbanisation and rising disposable income will boost the demand for food automation. The market for food automation will experience considerable rapid acceleration due to the growing implementation of automated technologies in packaging and logistics.

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Some of the major players operating in the food automation market are:

·        ABB,

·        Siemens,

·        Rockwell Automation, Inc.

·        Mitsubishi Electric Corporation,

·        Yokogawa Electric Corporation,

·        Schneider Electric,

·        GEA Group Aktiengesellschaft,

·        KUKA AG,

·        Honeywell International Inc.,

·        Rexnord Corporation,

·        Emerson Electric Co., and NORD, among others.

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Food Automation Market Country Level Analysis

The food automation market is analyses and market size, volume information is provided by country, type, application and function as referenced above.

Europe dominates the food automation market and will continue to flourish its trend of dominance during the forecast period owing to the well-established infrastructure in this region. Asia-Pacific is estimated to grow at a significant rate during the forecast period of 2022-2029 due to the increasing level of disposable income and rising urbanization in this region.

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