Food Automation Market Report 2020: Top Company, Trends and Future Forecasts Details Till 2027
Market Summary Growing global food & beverage industry, development of technologically advanced automated devices and stringent government regulations for food safety are the prominent factors contributing to the high CAGR of the market during the forecast period. Market Size – USD 9089.0 Million in 2018, Market Growth - CAGR of 7.1%, Market Trends – Technological advancements and the stringent food safety regulations. 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. Some of the key findings from forecast report: • The market is expanding at a CAGR of 8% in Asia Pacific due to expansion of food and manufacturing industry in the region. • The packaging and repackaging segment is expected to register the highest CAGR of 7.7% during 2019-2026. The packaging industry requires precise automation and material handling to meet global demand reliably. www.reportsanddata.com
Key Players: Rockwell Automation, Siemens AG, ABB Ltd, Mitsubishi Electric Corporation, Schneider Electric and Nord DriveSystems. ABB Ltd. Segmentation: •
Type (Revenue, USD Million; 2016–2026), Motor Controls, Discrete controllers & visualization rotary & linear products
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Function Type (Revenue, USD Million; 2016–2026), Processing, Packaging & Repackaging, Palletizing, Sorting & Grading, Picking & Placing, Others
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Application (Revenue, USD Million; 2016–2026), Dairy, Bakery, Confectionery, Fruit & vegetable, Meat, poultry, and seafood, Beverages
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End Use (Revenue, USD Million; 2016–2026), Hospital, Clinic, Others
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Regional Food Automation Market (Regional Output, Demand & Forecast by Countries):• North America (United States, Canada, Mexico) • South America (Brazil, Argentina, Ecuador, Chile) • Asia Pacific (China, Japan, India, Korea) • Europe (Germany, UK, France, Italy) • Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and More.
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The report emphasizes the following key questions: • Q.1. What are the most lucrative and promising growth prospects for the market? • Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement? • Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes? • Q.4. Which factors are impacting the future of the market and what are the driving factors? • Q.5. What are the hurdles and challenges curtailing the industry’s growth in the forecast period?
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