Impact of COVID-19 on Food & Agriculture Technology and Products Market : Segmented By: Industry (Animal, Agriculture, Cold Chain, Food & Beverage, and Cannabis), By Technology (Cold Chain Technology, Food & Beverages GPS Technology, Satellite Imaging Technology, Others), And Region – Global Analysis of Market Size, Share & Trends For 2019–2021 And Forecasts To 2031
Product Overview
Food and agricultural technologies are used to develop food products and farm machinery. Different technologies such as Moisture and temperature sensors, robots, aerial photography, GPS technology are used in agricultural and food production. Efficient, safe, and environmentally friendly businesses are developed by using various modern technologies and Robotic systems. agricultural technologies which are mainly used by farms are harvest automation, autonomous tractors, seeding and weeding, and drones.
Market Highlights
The global Food & Agriculture Technology and Products market is expected to project a notable CAGR of 9.2% in 2031.
Expanding population along with rising awareness for organic food items increase the requirement of agricultural production which, in turn, is expected to increase the food & agriculture technology demand over the coming years. Furthermore, an increasing number of initiatives implemented by governments in both developed and developing countries to encourage the use of modern technology are expected to accelerate the industry growth during the forecast period.
Global Food & Agriculture Technology and Products: Segments
Agriculture segment to grow with the highest CAGR during 2021-31
Global Food & Agriculture Technology and Products market are classified based on Industry into Animal, Agriculture, Cold Chain, Food & Beverage, and Cannabis. The agricultural segment accounted for the largest market share of the global Food & Agriculture Technology and Products market agricultural products and equipment are widely available and also used in a different type of crop cultivation which is expected to drive the Agriculture Industry shortly. Increasing food consumption on account of the rising population across the globe is expected to create a huge demand for food and agricultural technologies in Agriculture Industry. Factors such as limited natural resources, increasing demand for pesticide- and herbicide-free food, and the necessity to reduce the carbon footprint of traditional agricultural operations are expected to continue pushing sales in the forthcoming years.
Cold chain technology segment to grow with the highest CAGR during 2021-31
Based on Technology, the global Food & Agriculture Technology and Products Market is fragmented into Cold Chain Technology, Food & Beverages GPS Technology, Satellite Imaging Technology, Others. Cold chain technology is used to increase the shelf life of a product by slowing down the growth of germs as well as reducing the decay of putrescible foods. the rising demand for Cold chain technology owing to the increasing demand for perishable food items through online channels and Improved business networking interconnections across the world.
Market Dynamics
Drivers
Increasing Demand for Agricultural Production
Rising demand for agricultural production owing to the increasing population is expected to bolster the food & agriculture technology and products market growth in the forecast period. Furthermore, modern agricultural technologies are used by farms on a larger scale is leading to the growth of the food & agriculture technology and products market. The major factors contributing to the growth of the food & agriculture technology and products market are growing consumer capacity, increasing consumer awareness about food safety, initiatives implemented by governments.
Technological advancements
Technological advancements accelerate the adoption of advanced agriculture practice around the world is escalating the growth of the Food & Agriculture Technology and Products Market. Some major Smart farming technologies are most generally being utilized for end-to-end farm management, greenhouse automation, livestock monitoring, and meteorological information.
Restraint
High-Cost Investment
High-cost investment and maintenance costs of technologies are estimated to hamper the growth of the global food & agriculture technology and products market. Inadequate regulatory frameworks and supporting infrastructure in developing countries restrain the growth of the food & agriculture technology and products market in a considerable manner.
Global Food & Agriculture Technology and Products: Key Players
Daikin
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
United Technologies
ADM
Evonik
Deere and Company
Zoetis
Pentair
Intertek
Signify Holdings
SGS SA
Neogen
Other Prominent Players
Global Food & Agriculture Technology and Products: Regions
The global Food & Agriculture Technology and Products market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Asia Pacific Digital Food & Agriculture Technology and Products market is expected to see remarkable growth during the forecasted period. Increasing disposable income and improvement in living standards of consumers are expected to accelerate the growth of the food & agriculture technology and products market. Due to rising urbanization and hectic lifestyle, people select convenience food items driving the growth in this region.
Impact of Covid-19 on Food & Agriculture Technology and Products Market
Increasing demand for high-quality food products and higher safety standards. Demand for food & agriculture technology and products increased due to the shortage of labor and disturbance in the supply chain.
Global Food & Agriculture Technology and Products is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – the United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
the Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
Global Food & Agriculture Technology and Products report also contains analysis on:
Food & Agriculture Technology and Products Segments:
By Industry
Animal
Agriculture
Cold Chain
Food & Beverage
Cannabis
By Technology
Cold Chain Technology
Food & Beverages GPS Technology
Satellite Imaging Technology
Others
Food & Agriculture Technology and Products Dynamics
Food & Agriculture Technology and Products Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
Food & Agriculture Technology and Products Market Report Scope and Segmentation
Report Attribute Details
The market size value in 2021 USD 548 billion
The revenue forecast in 2031 USD 1,318.9 billion
Growth Rate CAGR of 9.2% from 2021 to 2031
The base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2031
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Industry, Technology, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Daikin, United Technologies, ADM, Evonik, Deere and Company, Zoetis, Pentair, Intertek, Signify Holdings, SGS SA, Neogen, and Other Prominent Players.
*Please Note: The report will be delivered in 4-5 business days upon order confirmation*
- 1. Executive Summary
- 2. Global Food & Agriculture Technology and Products Market
- 2.1. Product Overview
- 2.2. Market Definition
- 2.3. Segmentation
- 2.4. Assumptions and Acronyms
- 3. Research Methodology
- 3.1. Research Objectives
- 3.2. Primary Research
- 3.3. Secondary Research
- 3.4. Forecast Model
- 3.5. Market Size Estimation
- 4. Average Pricing Analysis
- 5. Macro-Economic Indicators
- 6. Market Dynamics
- 6.1. Growth Drivers
- 6.2. Restraints
- 6.3. Opportunity
- 6.4. Trends
- 7. Correlation & Regression Analysis
- 7.1. Correlation Matrix
- 7.2. Regression Matrix
- 8. Recent Development, Policies & Regulatory Landscape
- 9. Risk Analysis
- 9.1. Demand Risk Analysis
- 9.2. Supply Risk Analysis
- 10. Global Food & Agriculture Technology and Products Market Analysis
- 10.1. Porters Five Forces
- 10.1.1. Threat of New Entrants
- 10.1.2. Bargaining Power of Suppliers
- 10.1.3. Threat of Substitutes
- 10.1.4. Rivalry
- 10.2. PEST Analysis
- 10.2.1. Political
- 10.2.2. Economic
- 10.2.3. Social
- 10.2.4. Technological
- 11. Global Food & Agriculture Technology and Products Market
- 11.1. Market Size & forecast, 2020A-2031F
- 11.1.1. By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 11.1.2. By Volume (Million Units) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12. Global Food & Agriculture Technology and Products Market: Market Segmentation
- 12.1. By Regions
- 12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.2. By Industry: Market Share (2020-2031F)
- 12.2.1. Animal, Agriculture, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.2.2. Cold Chain, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.2.3. Food & Beverage, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.2.4. Cannabis, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.3. By Technology: Market Share (2020-2031F)
- 12.3.1. Cold Chain Technology, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.3.2. Navigation, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.3.3. Food & Beverages GPS Technology, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.3.4. Satellite Imaging Technology, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 12.3.5. Others, By Value (USD Million) 2020-2031F; Y-o-Y Growth (%) 2021-2031F
- 13. Company Profile
- 13.1. Daikin
- 13.1.1. Company Overview
- 13.1.2. Company Total Revenue (Financials)
- 13.1.3. Market Potential
- 13.1.4. Global Presence
- 13.1.5. Key Performance Indicators
- 13.1.6. SWOT Analysis
- 13.1.7. Product Launch
- 13.2. United Technologies
- 13.3. ADM
- 13.4. Evonik
- 13.5. Deere and Company
- 13.6. Zoetis
- 13.7. Pentair
- 13.8. Intertek
- 13.9. Signify Holdings
- 13.10. SGS SA
- 13.11. Neogen
- 13.12. Other Prominent Players
- 14. Consultant Recommendation
- **The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
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