Global $725+ Billion Food & Agriculture Technology and Products Market Analysis 2018-2019 & Forecast to 2023

DUBLIN, March 22, 2019 /PRNewswire/ — The “Food & Agriculture Technology and Products Market by Industry (Animal, Agriculture, Cold Chain, Food & Beverage, and Cannabis), and Region (North America, Europe, Asia Pacific, Rest of the World) – Global Forecast to 2023″ report has been added to’s offering.

The global food & agriculture technology and products market size is projected to grow from USD 494.9 billion in 2018 to USD 729.5 billion by 2023, at a CAGR of 8.1% during the forecast period.

The food & agriculture technology and products market is driven by various factors such as an increase in demand and consumption of livestock-based products and seafood, rise in consumer awareness about food safety, governments’ support to adopt modern agricultural techniques, increase in demand for convenience, packaged, and processed food products, and demand for agricultural production due to the increasing population.

However, the overall fragmented agriculture industry, lack of coordination between market stakeholders, and improper enforcement of regulatory laws & supporting infrastructure in developing countries are projected to hinder the growth of the market.

The food & beverage processing equipment segment is projected to hold the largest market share in the food & beverage industry for the food & agriculture technology and products market.

The food & beverage processing equipment market is projected to grow, due to the rise in the number of investments by major manufacturers in this market, growing food demand, and the growing support by governments. Further, increasing demand for bakery and dairy products and the growth of the beverage industry are also expected to drive the demand for food & beverage processing equipment for faster and more efficient processing.

The aquaculture products segment is projected to grow at the highest CAGR during the forecast period in the animal industry for the food & agriculture technology and products market.

The global aquaculture production has grown rapidly during the past decades. The rise in the demand for seafood has led to the expansion of the aquaculture industry. Several products are being introduced in the market to widen the companies’ consumer base and ensure food security. Innovations in aquaculture technology and the introduction of new species contribute significantly to the growth of the global aquaculture segment.

The Asia Pacific is projected to be the fastest-growing region in the cold chain subindustry for the food & agriculture technology and products market.

The market in Asia Pacific is projected to be fastest-growing, due to the increasing demand for perishable foods in the region. Countries such as India and China lack access to these cold chain requirements and are, therefore, unable to maintain cold chain integrity. Increasing awareness about the prevention of food wastage before consumption, the growth of the organized retail sector, rising consumer demand for perishable foods, and government support and initiatives indicate the significant growth potential for the cold chain industry in the region.

Furthermore, the increasing number of food companies and the introduction of favorable policies by the government across countries are contributing to the development of the refrigerated transport market in the Asia Pacific region by creating their own distribution networks with capable refrigerated transport facilities.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Food & Agriculture Technology and Products Market

4.2 Animal Industry, By Region

4.3 Agriculture Industry, By Region

4.4 Cold Chain Industry, By Region

4.5 Food & Beverage Industry, By Region

4.6 Others, By Region

5 Market Overview

5.1 Introduction

5.2 Market Dynamics

5.3 Drivers

5.3.1 Increase in Demand and Consumption of Livestock-Based Products and Seafood

5.3.2 Increased Adoption of Advanced Genetic Technologies

5.3.3 Rise in Consumer Awareness About Food Safety

5.3.4 Increase in Demand for Convenience, Packaged, and Processed Food Products

5.3.5 Governments’ Support to Adopt Modern Agricultural Techniques

5.3.6 Growing Demand for Agricultural Production Owing to the Increasing Population

5.3.7 Increasing Need for Temperature Control to Prevent Potential Health Hazards

5.3.8 Increase in the Legalization of Cannabis

5.4 Restraints

5.4.1 Overall Fragmented Agriculture Industry

5.4.2 Restrictions on the Use of Parasiticides in Food-Producing Animals and Ban on Antibiotics in Different Nations

5.4.3 Lack of Coordination Between Market Stakeholders and Improper Enforcement of Regulatory Laws & Supporting Infrastructure in Developing Countries

5.4.4 High Energy and Infrastructure Cost

5.4.5 Complex Regulatory Structure for the Use of Cannabis

5.5 Opportunities

5.5.1 Untapped Market Potential and Emerging Regional Markets

5.5.2 Advent of Big Data in Agricultural Farms

5.5.3 Increasing Foreign Direct Investments in Emerging Markets

5.5.4 Product Development Via Research and Novel Product Delivery Solutions

5.6 Challenges

5.6.1 High Initial Investment and Recurring Cost

5.6.2 Lack of Infrastructural Support in Emerging Markets and of Skilled Resources in Developed Markets

5.6.3 Declining Prices as the Product Gets Commoditized

5.6.4 Stringent Approval Process for Antimicrobials and Antibiotics

6 Food & Agriculture Technology and Products Market, By Industry

6.1 Introduction

6.2 Animal

6.2.1 Animal Genetics High Demand for Superior Breeds is Driving the Market for Animal Genetics

6.2.2 Animal Health Rising Demand for Animal-Derived Food Products

6.2.3 Aquaculture Products Increasing Seafood Trade Propelling the Demand for Aquaculture Products

6.3 Agriculture

6.3.1 Indoor Farming Technology Need for Higher Yields, Using Limited Space and Water

6.3.2 Smart Agriculture Technology Increasing Adoption of the Internet of Things (IoT) and Artificial Intelligence Farm Management Software Focus on Livestock Monitoring & Disease Detection to Improve the Efficiency of Farming Precision Farming Increasing Focus on Farm Productivity Livestock Monitoring Awareness About the Importance of Animal Health and Hygiene Smart Greenhouse Government Support to Adopt Modern Agriculture Technology Fish Monitoring Increasing Implementation of Technologies in Fish Farming Others Growth of Horticulture and Forestry

6.3.3 Pre-Harvest Equipment Primary Tillage Equipment Awareness About Soil Health for Long-Term Sustainability Secondary Tillage Equipment Conservation of Soil Moisture to Enhance Yield Planting Equipment Higher Yield With the Use of Seed Drill Irrigation Equipment Rapid Demand for Cereals Crop Plant Protection Equipment Increasing Focus on Reducing Crop Losses Due to Pests & Insects Other Equipment Rising Concerns About Weed and Evaporation Reduction From the Soil

6.3.4 Grow Lights Growth in Indoor Farming Practices

6.3.5 Autonomous Tractors Growth in the Trend of Mechanization in the Agricultural Industry

6.4 Cold Chain

6.4.1 Refrigerated Storage Increasing Need for Temperature-Controlled Storage to Prevent Potential Health Hazards

6.4.2 Refrigerated Transport Growing Consumer Demand for Perishable Foods

6.5 Food & Beverages

6.5.1 Algae Products Growth in Consumer Awareness About the Health Benefits of Algae-Based Products

6.5.2 Food Safety Technology Incidences of Foodborne Illnesses are Driving the Market for Food Safety Technology

6.5.3 Traceability Technology Ease of Product Recall and Growing Consumer Concerns About Food Safety are Driving the Market for Traceability Technology

6.5.4 Food & Beverage Processing Equipment Growing Demand for Processed and Convenience Food

6.5.5 Plant-Based Protein Products Increasing Consumer Awareness About Healthy Diets

6.5.6 Cultured Meat Products Technological Advancements in Cellular Agriculture

6.6 Others (Cannabis)

7 Food & Agriculture Technology and Products Market in the Animal Industry, By Region

8 Food & Agriculture Technology and Products Market for the Agriculture Industry, By Region

9 Food & Agriculture Technology and Products Market in Cold Chain Industry, By Region

10 Food & Agriculture Technology and Products Market for Food & Beverages Industry, By Region

11 Food & Agriculture Technology and Products Market for the Cannabis Industry, By Region

12 Competitive Landscape

12.1 Overview

12.2 Competitive Scenario

12.3 Expansions & Investments

12.4 Acquisitions

12.5 Agreements, Collaborations, Joint Ventures, and Partnerships

12.6 New Product Launches

13 Company Profiles

13.1 ADM

13.2 United Technologies (Carrier Corporation)

13.3 John Deere

13.4 Daikin Industries

13.5 Evonik

13.6 DSM

13.7 Signify Holding

13.8 SGS SA

13.9 Zoetis

13.10 Eurofins

13.11 GEA

13.12 Pentair

13.13 Intertek

13.14 Genus

13.15 Neogen Corporation

13.16 Akva Group

13.17 Canopy Growth Corporation

13.18 Americold Logistics

13.19 Groupe Grimaud

13.20 Mosameat

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