Food Automation Market Expanding at 7.40% CAGR During 2016-2024

Posted on 2018-11-08 by Goldstein Research in Industrial // 0 Comments

New York, USA, 2018-Nov-08 — /EPR Network/ —According to Goldstein Research, global food automation market is anticipated to reach a market size of USD 13.6 billion by 2024, growing at 7.40% CAGR over the forecast period 2016-2024. The factors such as growing technological advancements in automation, expanding demand of processed food, rise in number of food manufacturers such as in Europe, and importance on product quality and lean manufacturing tends to drive the growth of the market.

Packaging automation accounts for significantly high market share in total market. Global packaging robots market is witnessed to have huge opportunities in near future and thus results in growth of food automation market. Furthermore, Europe has increasing number of food manufacturing & processing units, which have adopted automation in their processes. Europe fresh food packaging market tends to be the most opportunistic market on the back of rising awareness towards food nutrition.

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Market Segmentation

On the basis of our in-depth analysis, Global Food Automation Market can be segmented as follows:

Based on Product Type

Motor Controls
Rotary Products
Linear Products
Motors & Generators
Discrete Controllers & Visualization

Based on Function

Palletizing
Processing
Sorting & Grading
Packaging & Repackaging
Picking & Placing

Based on Application

Bakery & Confectionary
Beverages
Fruit & Vegetables
Dairy
Meat, Poultry & Seafood

By Region

North America Food Automation Market Analysis, 2016-2024
Europe Food Automation Market Analysis, 2016-2024
Middle East And Africa Food Automation Market Analysis, 2016-2024
Latin America Food Automation Market Analysis, 2016-2024
Asia Pacific Food Automation Market Analysis, 2016-2024

“Global Food Automation Industry Outlook 2024” includes comprehensive overview of the global food automation market. On the basis of our in-depth analysis, market can be segmented in terms of market segmentation by product type, function, application and geography.

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The Global Food Automation Market Report highlights the competitive outlook of major global players that includes the business strategies, product portfolio, revenue distribution, financial analysis, R&D activities and investments. The comprehensive analysis of food automation market report is drafted as per the clients to help them in assessing their business strategies in the competitive environment.

Key players mentioned in the report are:

Rockwell Automation, Siemens AG, ABB Ltd., Mitsubishi Electric Corporation, Schneider Electric SE, Yokogawa Electric Corporation, GEA Group, Fortive Corporation, Yaskawa Electric Corporation, Rexnord Corporation, Emerson Electric Co., Nord Drivesystems, Henan Chengli Grain&Oil Machinery Co., Ltd., Taizhou Zhongda Environmental Protection Equipment Co., Ltd., Dongguan Coso Electronic Technology Co., Ltd., Keb Automation Kg, Hollysys Automation Technologies Ltd., Horner APG LLC, Festo AG & Co. Kg, Elwood Corporation, Copa-Data GmbH, Ametek Inc., Honeywell International, General Electric, etc.

Further, Global Food Automation Market Report encompasses the key factors driving the growth of market, opportunities in the market and the factors posing threats & challenges to the market. The food automation market outlook also comprises the market dynamics, risk analysis, SWOT analysis, USP analysis, BPS Analysis & market attractiveness. Report further also includes the expert analysis and remarks showcasing the complete overview of the market based on intensive analysis of political, economic, social, technological, environmental & legal factors of each region in the market.

Global food automation market is further bifurcated in various segments with separate market analysis mentioned below:

Collaborative Robots Market

Due to impressive expansion of collaborative robots in several industries different types of companies are investing in robotic solutions for high productivity and efficiency. The global collaborative robots market is expected to reach USD 15.2 billion by 2024 from USD 0.79 billion in 2016, growing at a CAGR of 44.72% over the forecast period i.e. 2016 – 2024.

Smart Vending Machines Market

Global smart vending machines market size to reach USD 11.15 billion by 2024, at a CAGR of 37.6% over the forecast years. On the basis of product type, beverages hold the largest market share i.e. 37.1% in global smart vending machines market owing to its higher consumption. Moreover, Global packaged food vending machines accounts for 18% of the total vending machines and the global snacks and food vending machine has 20% market share of the global vending machines. Salad vending machine market to grow at a CAGR of 4.4% and it is set to reach USD 306 million by 2024 from 215.2 million in 2016.

Waste Sorting Robots Market

The advanced technology can help enhance recycling rates and divert useful resources away from landfill. Waste sorting robots market size is set to reach USD 12.24 billion by 2024 growing at a CAGR of 16.4% over the forecast years.

Refurbished Robots Market

Refurbished robots market to grow parallel to the industrial robots market which is expected to reach USD 34 billion by 2024 from USD 13.1 billion sales in 2016, growing at a CAGR of 12.6% over the forecast years. Automation being a competitive factor is essential not only in large industries but also increasingly important for the small and medium-sized enterprises around the world, requiring low-cost robots.

Packaging Robots Market

One of the technologies is packaging robotics technology that not only saves the times but is also cost efficient. The market of packaging industry globally covers approximately USD 960 billion in 2016 which include manufacturing industries, food and beverages industries, textile industries, etc in which packaging robots are used in almost more than 60% of industries now a days. Global packaging industry reached USD 960 billion in 2016 in which packaging robots market accounted USD 2.50 billion in 2016. Further, global packaging robots market is anticipated to reach USD 4.70 billion by 2024, growing at a CAGR of 14% over the forecast period i.e. 2016-2024.

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