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Food and Agriculture technology Market: Global Industry Analysis and Forecast (2024-2030) by Industry, Technology, and Region.
Food and Agriculture technology Market size was valued at US$ 3.45 Bn in 2023. The Global Food and Agriculture technology Market is estimated to grow at a CAGR of 7.3 % over the forecast period.
Format : PDF | Report ID : SMR_445
Food and Agriculture technology Market Definition:
Food and agricultural technologies and goods are utilised in the production of agricultural machinery and the production of food. Crops are protected by food and agriculture technologies and goods from higher productivity, effective resource usage, and harsh weather conditions. Humidity and temperature sensors, robots, aerial imagery, GPS technology, and other technologies are employed in the food and agriculture technology market. Robotic systems are cutting-edge devices that help businesses run more efficiently, sustainably, and profitably.
Agricultural technology is one of the most revolutionary and influential fields of contemporary technology, driven by the basic need for food and the necessity to feed an ever-increasing population. These machines have drastically enhanced farm output and revolutionised the way people are employed and food is produced around the world.
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Food and Agriculture technology Market Dynamics:
Demand for livestock-based products and fisheries is increasing, as is consumption which is fuelling the growth of the Food and Agriculture technology market:
The rise in the food and agriculture technology market revenue Technology and Goods will be fueled by rising demand and consumption of livestock-based products and seafood, as well as greater use of advanced genetic technologies and higher consumer awareness about food safety. Since the 1960s, global livestock output has expanded dramatically. Beef output has more than doubled, while chicken meat production has climbed by roughly a factor of ten, with the help of improvements in both the number of animals and productivity.
Livestock production is a critical component of developing countries agricultural economies, with contributions ranging from direct food production to multipurpose uses such as skins, fibre, fertiliser, and fuel, as well as capital accumulation. Two-thirds of rural groups trust livestock for their employment. It also employs 8.8% of India's population. India has an abundance of livestock. The livestock industry accounts for 4.11% of overall GDP and 25.6% of total agriculture GDP. This increase in GDP will fuel the demand in the food and agriculture technology market.
Large capital investment and high energy demand are hampering the growth of the market:
Capital formation through agriculture investment serves to improve the stock of equipment, tools, and natural resource productivity, allowing farmers to utilise their resources more productively, notably land and labour. Agriculture utilises energy both directly on the farm in the form of fuel or electricity to power machinery and equipment, heat or cool buildings, and light, and indirectly in the form of fertilisers and chemicals produced off the farm. These factors are hampering the growth of the food and agriculture technology market.
Increasing Technological Progress which is providing a major opportunity for the market:
The Food & Agriculture Technology and Products Market is expected to develop as technology advances, resulting in a rise in the use of smart agriculture practices around the world. End-to-end farm management, greenhouse automation, livestock monitoring, and meteorological data are all aided by smart farming practices. IoT is introducing cloud computing platforms and big data analytics solutions to boost agricultural performance and production to meet the expanding population need. As a result, the food and agriculture technology market is expected to develop at a faster rate.
Food and Agriculture technology Market Segment Analysis:
By Industry, the market is segmented as Animal, Agriculture, Cold Chain, Food & Beverage and Cannabis. The Cold Chain segment dominated the market with a 42.2% share in 2023. In 2018, the cold chain section of the food & agriculture technologies and products market accounted for a large share of the market. By limiting the growth of germs and reducing the deterioration of perishable foods by refrigeration or freezing, cold chain technology extends the shelf life of perishable foods. The growth of the cold chain industry is being driven by more corporate networking between nations, rising consumer demand for perishable items through online purchasing, and better flexibility for delivering perishable commodities at the proper moment in developed economies is driving the growth of this segment in food and agriculture technology market.
However, the Agriculture segment is expected to grow at a CAGR of 9.5% through the forecast period. Increasing demand for agricultural items and equipment as a result of this equipment's widespread availability and application in practically all types of crop cultivation. The improvement of agricultural commodities and technology has been pushed by factors such as rising food consumption as a result of population growth and limited natural resources. Furthermore, rising consumer demand for pesticide and herbicide-free foods, as well as a growing desire to minimise the carbon footprint of traditional agricultural operations, are expected to push the agricultural sector forward.
By Technology, the market is segmented as Food Safety Technology, Traceability Technology, Cultures Meat Products, and Others. The Food Safety Technology segment dominated the food and agriculture technology market with a 45.3% share in 2023. Automatic HACCP logging, preventing employee fraud, advising corrective actions, and more are all things that food safety technologies, food safety software, or cloud-based apps may help with consumers. Classification is a significant part of the procedure. Preventing foodborne infections requires consistent, clear labelling for prepared meals. With the help of these factors, this segment is expected to grow at a constant pace.
Food and Agriculture technology Market Regional Insights:
The Asia Pacific region dominated the market with a 42.2% share in 2023. The food and agriculture technologies and products market was dominated by the Asia Pacific region. The growing demand for processed foods, as well as the rapid development of the middle-class population, are responsible for the region's substantial market share. Furthermore, the region has a greater rate of seafood and processed meat consumption, as well as higher consumption of proteins such soy protein and its isolates in foods like functional dairy beverages, baked goods, snacks, and meat alternatives.
However, the North American region is expected to grow at a CAGR of 9.5% through the forecast period. This region's growth is aided by the increasing use of protein-rich foods such as plant-based protein, cultured meat, and other things. This region's growth is fueled by rising demand for packaged and processed goods.
The objective of the report is to present a comprehensive analysis of the Global Food and Agriculture technology market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Food and Agriculture technology market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the global market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the Global Food and Agriculture technology market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the global Food and Agriculture technology market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the global market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Global Food and Agriculture technology market. The report also analyses if the Global Food and Agriculture technology market are easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.
The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Food and Agriculture technology market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Food and Agriculture technology market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the global market is aided by legal factors.
Food and Agriculture technology Market Scope:
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Food and Agriculture Technology Market |
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Market Size in 2023 |
USD 3.45 Bn. |
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Market Size in 2030 |
USD 5.65 Bn. |
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CAGR (2024-2030) |
7.3 Percent |
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Historic Data |
2018-2022 |
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Base Year |
2023 |
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Forecast Period |
2024-2030 |
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Segment Scope |
by Industry
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by Technology
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Regional Scope |
North America- United States, Canada, and Mexico
Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America |
Food and Agriculture technology Market Key Players:
- ADM (US)
- Evonik (Germany)
- DSM (Netherlands)
- United Technologies (US)
- Deere & Company (US)
- Daikin (Japan)
- Signify Holdings (Netherlands)
- SGS SA (Switzerland)
- Zoetis (UK)
- GEA (Germany)
- Pentair (UK)
- Intertek (UK)
- Genus (UK)
- Neogen (US)
- AKVA Group (Norway)
- Eurofins (Luxembourg)
- Canopy Growth Corporation (Canada)
- Americold Logistics (US)
- Groupe Grimaud (France)
- MosaMeat (Netherlands)
Frequently Asked Questions
Chapter 1 Scope of the Report
Chapter 2 Research Methodology
2.1.Research Process
2.2.Global Food and Agriculture technology Market: Target Audience
2.3.Global Food and Agriculture technology Market: Primary Research (As per Client Requirement)
2.4.Global Food and Agriculture technology Market: Secondary Research
Chapter 3 Executive Summary
Chapter 4 Competitive Landscape
4.1.Market Share Analysis, By Value, 2023-2030
4.1.1.Market Share Analysis, By Region, By Value, 2023-2030 (In %)
4.1.1.1.North America Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.2.Europe Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.3.Asia Pacific Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.4.South America Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.5.Middle East and Africa Market Share Analysis, By Value, 2023-2030 (In %)
4.1.2.Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.1.North America Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.1.1.USA Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.1.2.Canada Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.1.3.Mexico Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.2.Europe Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.2.1.UK Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.2.2.France Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.2.3.Germany Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.2.4.Italy Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.2.5.Spain Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.2.6.Sweden Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.2.7.Austria Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.2.8.Rest of Europe Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.3.Asia Pacific Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.3.1.China Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.3.2.India Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.3.3.Japan Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.3.4.South Korea Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.3.5.Australia Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.3.6.ASEAN Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.3.7.Rest of APAC Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.4.South America Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.4.1.Brazil Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.4.2.Argentina Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.4.3.Rest of South America Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.5.Middle East and Africa Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.5.1.South Africa Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.5.2.GCC Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.5.3.Egypt Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.5.4.Nigeria Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.2.5.5.Rest of Middle East and Africa Market Share Analysis, By Industry, By Value, 2023-2030 (In %)
4.1.3.Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.North America Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.1.1.USA Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.1.2.Canada Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.1.3.Mexico Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.2.Europe Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.2.1.UK Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.2.2.France Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.2.3.Germany Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.2.4.Italy Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.2.5.Spain Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.2.6.Sweden Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.2.7.Austria Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.2.8.Rest of Europe Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.3.Asia Pacific Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.3.1.China Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.3.2.India Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.3.3.Japan Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.3.4.South Korea Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.3.5.Australia Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.3.6.ASEAN Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.3.7.Rest of APAC Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.4.South America Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.4.1.Brazil Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.4.2.Argentina Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.4.3.Rest of South America Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.5.Middle East and Africa Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.5.1.South Africa Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.5.2.GCC Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.5.3.Egypt Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.5.4.Nigeria Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.1.4.5.5.Rest of Middle East and Africa Market Share Analysis, By Technology, By Value, 2023-2030 (In %)
4.2.Stellar Competition matrix
4.2.1.Global Stellar Competition Matrix
4.2.2.North America Stellar Competition Matrix
4.2.3.Europe Stellar Competition Matrix
4.2.4.Asia Pacific Stellar Competition Matrix
4.2.5.South America Stellar Competition Matrix
4.2.6.Middle East and Africa Stellar Competition Matrix
4.3. Key Players Benchmarking
4.3.1.Key Players Benchmarking By Industry, Pricing, Market Share, Investments, Expansion Plans, Physical Presence and Presence in the Market.
4.4. Mergers and Acquisitions in Industry
4.4.1.M&A by Region, Value and Strategic Intent
4.5. Market Dynamics
4.5.1.Market Drivers
4.5.2.Market Restraints
4.5.3.Market Opportunities
4.5.4.Market Challenges
4.5.5.PESTLE Analysis
4.5.6.PORTERS Five Force Analysis
4.5.7.Value Chain Analysis
Chapter 5 Global Food and Agriculture technology Market Segmentation: By Industry Type
5.1.Global Food and Agriculture technology Market, By Industry Type, Overview/Analysis, 2023-2030
5.2.Global Food and Agriculture technology Market, By Industry Type, By Value, Market Share (%), 2023-2030 (USD Million)
5.3.Global Food and Agriculture technology Market, By Industry Type, By Value, -
5.3.1.Animal
5.3.2.Agriculture
5.3.3.Cold Chain
5.3.4.Food & Beverage
5.3.5.Cannabis
Chapter 6 Global Food and Agriculture technology Market Segmentation: By Technology
6.1.Global Food and Agriculture technology Market, By Technology, Overview/Analysis, 2023-2030
6.2.Global Food and Agriculture technology Market Size, By Technology, By Value, Market Share (%), 2023-2030 (USD Million)
6.3.Global Food and Agriculture technology Market, By Technology, By Value, -
6.3.1.Food Safety Technology
6.3.2.Traceability Technology
6.3.3.Cultures Meat Products
6.3.4.Others
Chapter 7 Global Food and Agriculture technology Market Segmentation: By Region
7.1.Global Food and Agriculture technology Market, By Region – North America
7.1.1.North America Food and Agriculture technology Market Size, By Industry Type, By Value, 2023-2030 (USD Million)
7.1.2.North America Food and Agriculture technology Market Size, By Technology, By Value, 2023-2030 (USD Million)
7.1.3.By Country – U.S.
7.1.3.1.U.S. Food and Agriculture technology Market Size, By Industry Type, By Value, 2023-2030 (USD Million)
7.1.3.2.U.S. Food and Agriculture technology Market Size, By Technology, By Value, 2023-2030 (USD Million)
7.1.3.3.Canada Food and Agriculture technology Market Size, By Value, 2023-2030 (USD Million)
7.1.3.4.Mexico Food and Agriculture technology Market Size, By Value, 2023-2030 (USD Million)
7.2. Europe Food and Agriculture technology Market Size, By Value, 2023-2030 (USD Million)
7.2.1.UK
7.2.2.France
7.2.3.Germany
7.2.4.Italy
7.2.5.Spain
7.2.6.Sweden
7.2.7.Austria
7.2.8.Rest of Europe
7.3. Asia Pacific Food and Agriculture technology Market Size, By Value, 2023-2030 (USD Million)
7.3.1.China
7.3.2.India
7.3.3.Japan
7.3.4.South Korea
7.3.5.Australia
7.3.6.ASEAN
7.3.7.Rest of APAC
7.4. Middle East and Africa Food and Agriculture technology Market Size, By Value, 2023-2030 (USD Million)
7.4.1.South Africa
7.4.2.GCC
7.4.3.Egypt
7.4.4.Nigeria
7.4.5.Rest of Middle East and Africa
7.5. South America Food and Agriculture technology Market Size, By Value, 2023-2030 (USD Million)
7.5.1.Brazil
7.5.2.Argentina
7.5.3.Rest of South America
Chapter 8 Company Profiles
8.1.Key Players
8.1.1.ADM (US)
8.1.1.1.Company Overview
8.1.1.2.Product Portfolio
8.1.1.3.Financial Overview
8.1.1.4.Business Strategy
8.1.1.5.Key Developments
8.1.2.Evonik (Germany)
8.1.3.DSM (Netherlands)
8.1.4.United Technologies (US)
8.1.5.Deere & Company (US)
8.1.6.Daikin (Japan)
8.1.7.Signify Holdings (Netherlands)
8.1.8.SGS SA (Switzerland)
8.1.9.Zoetis (UK)
8.1.10.GEA (Germany)
8.1.11.Pentair (UK)
8.1.12.Intertek (UK)
8.1.13.Genus (UK)
8.1.14.Neogen (US)
8.1.15.AKVA Group (Norway)
8.1.16.Eurofins (Luxembourg)
8.1.17.Canopy Growth Corporation (Canada)
8.1.18.Americold Logistics (US)
8.1.19.Groupe Grimaud (France)
8.1.20.MosaMeat (Netherlands)
8.2. Key Findings
8.3. Recommendations
