According to the current analysis of Reports and Data, the global Food and Agriculture Products and Technology Market was valued at USD 556.3 Million in 2020 and expected to reach USD 886.0 Million by the year 2028, at a CAGR of 6.07 percent. Food and agriculture technology and products used for making products and also in the production of machines used in farming. The food and agriculture technology and commodities provide a rise in crop production, efficient resources use and safeguard of crops from harsh climatic conditions.
Farming is all about precision. A set of many different variables must be considered, such as weather conditions, soil humidity, and condition, pests, and diseases. The IoT and sensors can be given with high precision, in real-time, letting farmers react immediately and make the best decision. Irrigation is one of its many functions, being so crucial to a crop’s good expansion. Sensors installed in the field can give data on which parcel needs water, and farmers can, therefore, distribute it more effectively, helps farmers decrease the amount of water wasted, and increases their efficiency.
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Key participants include global food agriculture technology, and products industry are ADM (US), Evonik (Germany), Genus (UK), Neogen (US), AKVA Group (Norway), Eurofins (Luxembourg), Canopy Growth Corporation (Canada), DSM (Netherlands), United Technologies (US), Signify Holdings (Netherlands), SGS SA (Switzerland), Zoetis (UK), GEA (Germany), Deere Company (US), Daikin (Japan), Pentair (UK), Intertek (UK), Americold Logistics (US), Groupe Grimaud (France), and MosaMeat (Netherlands)
Further key findings from the report suggest
- The Food and Agriculture Products and Technology industry is growing at a CAGR of 9.2 % in the Asia Pacific, followed by North America and Europe. The increase in farming practice owing to the spiraling population has resulted in the region to be the fastest and most significant share in the industry.
- Based on the industry in the market, the agriculture industry projected to be the second-fastest growing segment during the forecast period. This is due to the wide availability and usage of this equipment in almost every type of crop farming.
- Factors such as rising demand for food due to the increasing population and limited natural resources (water land) have resulted in the advancement of agriculture products and technology. Additionally, the growing consumer demand for pesticide- and herbicide-free items and the ever-increasing requirement to reduce the carbon footprint of traditional agricultural practices projected to drive the agriculture segment.
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For the purpose 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, USD Million; 2016–2026)
- Animal Genetics
- Animal Health
- Aquaculture Products
- Indoor Farming Technology
- Smart Agriculture Technology
- Farm Management Software
- Precision Farming
- Livestock Monitoring
- Smart Greenhouse
- Fish Monitoring
- Pre-Harvest Equipment
- Primary Tillage Equipment
- Secondary Tillage Equipment
- Planting Equipment
- Irrigation Equipment
- Plant Protection Equipment
- Other Equipment
- Grow Lights
- Autonomous Tractors
- Cold Chain
- Refrigerated Storage
- Refrigerated Transport
- Food Beverages
- Algae Products
- Food Safety Technology
- Traceability Technology
- Food Beverage Processing Equipment
- Plant-Based Protein Products
- Cultured Meat Products
Regional Outlook (Revenue in USD Million; 2016–2026)
- North America
- The U.S.
- Rest of the Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East Africa
- Latin America
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Objective of Studies:
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the global Food and Agriculture Products and Technology market.
- To provide insights about factors affecting the market growth. To analyze the Food and Agriculture Products and Technology market based on various factors- price analysis, supply chain analysis, Porte five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, Latin America and Rest of the World.
- To provide country level analysis of the market with respect to the current market size and future prospective.
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