Food Automation Market to See 6.9% CAGR through 2022, Predicts M&M in Its New Report Available at MarketPublishers.com
15 Aug 2017 • by Natalie Aster
LONDON – Driven by such factors as rising awareness about processed and ready-to-eat foods amid consumers, ongoing innovations and advancements in automation technologies along with severe food safety regulations globally, the world’s market for food automation is predicted to touch USD 12.26 billion in value, gaining traction at a 6.9% CAGR through 2022. As of 2016, the market value stood at USD 8.22 billion. However, the market growth could be seriously hampered by the need for considerable capital investments.
Through 2022, the discrete controllers and visualization segment will likely grow at the fastest pace. Control and visualization systems enjoy increased popularity due to its high importance and valuable integrated and flexible production options to manufacturers.
On the basis of functions, the packaging and repackaging segment is expected to be the fastest growing in the coming years, owing to surging concerns regarding food safety amid population.
When it comes to regions, APAC is set to be the fastest-growing regional market for food automation during 2017-2022 on the back of its vast market base for the food and beverage industry, constantly improving living standards owing to increasing income of the local population as well as rising number of manufacturers in the regional market. The APAC food and beverage industry is currently experiencing numerous changes encouraged by robust urbanization processes, changing eating habits and also liberalization of overseas direct investments in the food market.
The new topical research study “Food Automation Market by Type, Function, Application and Region - Global Forecast to 2022” prepared by our research partner, MaketsandMarkets (M&M), contains an unparalleled comprehensive overview of the global food automation market with a special focus on the key country-wide and regional markets as well as on the prevailing and emerging trends. The report pinpoints lucrative growth prospects, discusses emerging growth opportunities and touches upon major challenges. A detailed market segmentation analysis based on types, functions, applications and regions is available in this report along with valuable data on the competitive environment and top players. The topical study points out high-growth segments, identifies high-growth regions, covers the key market drivers and restraints. Additionally, detailed future forecasts for the global food automation market through 2022 are offered in the report.
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