Global Food Automation Strategic Business Report 2023: Market to Reach $15.1 Billion by 2030 - Food Companies Prioritize Automation at Plants to Stay competitive - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Food Automation - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Food Automation Market to Reach $15.1 Billion by 2030

The global market for Food Automation estimated at US$10.3 Billion in the year 2022, is projected to reach a revised size of US$15.1 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.

Motors & Generators, one of the segments analyzed in the report, is projected to record a 5.1% CAGR and reach US$7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Discrete Controllers & Visualization segment is readjusted to a revised 5.6% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3 Billion, While China is Forecast to Grow at 4.6% CAGR

The Food Automation market in the U.S. is estimated at US$3 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$2.7 Billion by the year 2030 trailing a CAGR of 4.6% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.5% and 4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.

Looking Ahead to 2023

Food and fuel inflation will remain a persistent economic problem. Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth.

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Food Automation - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• Impact of Covid-19 and a Looming Global Recession
• The Growing Need for Automation in the Food Industry

FOCUS ON SELECT PLAYERS (Total 41 Featured)

• ABB Ltd.
• Emerson Electric Company
• Fortive Corporation
• GEA Group AG
• Mitsubishi Electric Corporation
• Rexnord Corporation
• Rockwell Automation, Inc.
• Schneider Electric SA
• Siemens AG
• Yaskawa Electric Corporation
• Yokogawa Electric Corporation

MARKET TRENDS & DRIVERS

• Food Companies Prioritize Automation at Plants to Stay competitive
• Preventive Maintenance Drives Adoption of IIoT
• Use of Artificial Intelligence on Rise in Food and Beverage Industry
• Companies Focus on Automation of Process Control for Largely Manual Processes
• Flexibility Recognized as an Important Requirement in Food Automation
• Machine Innovations in Food Manufacturing

For more information about this report visit https://www.researchandmarkets.com/r/v3nmmw-automation?w=4

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