Food and Agriculture Products and Technology Market Set to Exceed $886.0 Million by 2028: Reports and Data

Reports and data

Reports and data

Rising IoT adoption in agriculture, rising FDI in emerging markets, untapped market potentials, and the rise of developing countries.

NEW YORK CITY, NEW YORK, USA, Aug. 5, 2022 / — According to current analysis by Reports and Data, the global market for food and agriculture products and technology was valued at $556 .3 million in 2020 and is expected to reach USD 886.0 million by 2028, at a compound annual rate of 6.07 percent. Food and agricultural technology and products used to make products and also in the production of machines used in agriculture. Technology and commodities for food and agriculture provide increased crop production, efficient use of resources, and protection of crops from harsh weather conditions. Factors contributing to its market growth include increased demand and consumption for livestock and seafood products, increased consumer awareness of food safety, increased demand for convenience, packaged items and prosecuted, the increase in the legalization of Cannabis. Due to the growing awareness of the role and growth of food nutrients, especially protein, in overall physical and mental growth. There is a growing trend among customers to spend on animal protein in the form of eggs, meat or milk. Changing demographics and growing consumer awareness have encouraged manufacturers to prioritize food safety. Due to hectic lifestyles, consumer preferences have shifted from conventional shopping for raw produce to convenience and packaged items such as ready-to-eat (RTE) and frozen meals. Consumer demand for imported seasonal food products and ready-to-eat products has increased, which in turn drives the industry. The industry is also using more advanced technologies and processes to maintain the quality of things. With the increasing demand for homemade meal replacements and convenience items, food processing machinery manufacturers are focusing on creating innovative products and equipment and creating new product categories for efficient safety testing methods.

The Asia Pacific market represented a significant part of the industry. The large market share in this region is attributed to the growing demand for processed items, as well as the rapidly expanding middle class population. In addition, increased consumption of seafood and processed meats in the region, and increased consumption of proteins such as soy protein and its derivatives, such as baked goods, functional dairy beverages, snacks, and meat alternatives, are driving market demands. .

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Other key findings of the report suggest

• The food and agriculture products and technology industry is growing at a CAGR of 9.2% in Asia Pacific, followed by North America and Europe. The increase in agricultural practice due to the spiraling population has resulted in the region having the fastest and most significant share of the industry.
• Based on the industry in the market, the projected agriculture industry will be the second fastest growing segment during the forecast period. This is due to the wide availability and use of this equipment in almost all types of cultivation.
• Factors such as increased demand for food due to population growth and limited natural resources (water and land) have resulted in the advancement of agricultural products and technology. In addition, growing consumer demand for pesticide and herbicide-free items and the increasing requirement to reduce the carbon footprint of traditional farming practices are expected to drive the agricultural segment.
• The need for processing and safety equipment has increased in industry worldwide due to the enforcement of food safety regulations, the globalization of trade, and technological advances.
• The Cold Chain segment has a significant market share due to the growing demand for harvest storage and transportation. Several economies around the world are investing a lump sum of money for the cold chain industries, forecasting the need for this industry in the coming years and it is expected to bolster the industry in the coming years.
• Key participants include global food and agriculture technology and product industry are ADM (US), Evonik (Germany), Genus (UK), Neogen (US), AKVA Group (Norway) , Eurofins (Luxembourg), Canopy Growth Corporation (Canada). ), DSM (The Netherlands), United Technologies (US), Signify Holdings (The Netherlands), SGS SA (Switzerland), Zoetis (UK), GEA (Germany), Deere & Company (US) , Daikin (Japan), Pentair (UK), Intertek (UK), Americold Logistics (USA), Groupe Grimaud (France) and MosaMeat (Netherlands)

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For the purposes of this report, Reports and Data has segmented the Food and Agriculture Products and Technology Market based on Industry Type and Region:

Industry type (revenue, US$ million; 2018–2028)
• Animal
• Animal Genetics
• Animal health
• Aquaculture products
• Agriculture
• Indoor agriculture technology
• Smart agriculture technology
o Farm management software
 Precision Agriculture
 Livestock Monitoring
 Smart Greenhouse
 Fish monitoring
 Others
o Pre-harvest equipment
 Primary Tillage Team
 Secondary Tillage Team
 Sowing equipment
 Irrigation Equipment
 Plant Protection Equipment
 Other Equipment
or grow lights
o Autonomous Tractors
• Cold chain
o Refrigerated Storage
o Refrigerated Transport
• Food and drinks
o Seaweed products
o Food safety technology
o Traceability Technology
o Food and beverage processing equipment
o Plant-based protein products
o Cultured meat products
• Others

Regional perspective (Revenue in millions of USD; 2018–2028)
• North America
or United States
• Europe
or Germany
or France
United Kingdom
or Spain
or Italy
or Rest of Europe
• Pacific Asia
or Japan
o Rest of Asia-Pacific
• Middle East and Africa
• Latin America

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About reports and data

Reports and Data is a market research and consulting company that offers syndicated research reports, custom research reports, and consulting services. Our solutions are uniquely focused on their purpose of locating, targeting, and analyzing consumer behavior changes across demographics, across industries, and helping clients make smarter business decisions. We offer market intelligence studies that ensure relevant, fact-based research across multiple industries, including healthcare, touchpoints, chemicals, products, and energy. We constantly update our research offerings to ensure our clients are aware of the latest trends in the market. Reports and Data has a strong base of experienced analysts from various areas of expertise. Our industry experience and ability to develop a concrete solution to any research problem gives our clients the ability to secure an advantage over their respective competitors.

Nikhil Morankar
Reports and data
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