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(MoneyNewsWire.Net, April 11, 2018 ) The food automation market is projected to grow at a CAGR of 6.90% from 2017, to reach a projected value of USD 12.26 Billion by 2022. The growth of this market can be attributed to the inclination of consumers towards processed and ready to eat foods, technological advancements in automation and stringent international food safety regulations.
The motors & generators segment, on the basis of various types, accounted for the largest market share in 2016. The motors & generators segment is mainly driven by their multi-functional nature. The increasing significance of motors in motion control applications involving high-pressure wash-down and high torque applications with precise motion control has greatly enhanced their functionality. Smooth and efficient functioning of systems is promoted by using generators in the food industry. It is also coupled with the increasing awareness about the efficient energy management benefits of generators. The discrete controllers & visualization segment, on the basis of type, accounted for the second highest market share in 2016 owing to its comprehensive nature to offer integrated and flexible production options to manufacturers.
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Europe accounted for the largest market share in 2016 and can be attributed due to the processed food market in Western Europe, which is well-established owing to which it is expected to witness steady growth during the forecast period. Furthermore, developing regions, such as Eastern Europe, are expected to witness significant growth in the processed food & beverage market, which positively impacts the equipment sector and boosts the market growth. Asia-Pacific is projected to be the fastest-growing region from 2017 to 2022 due to its large market base for the food & beverage industry; the improved standard of living due to the rise in income levels, and growing number of manufacturers in the region. The food & beverage market in the Asia-Pacific region is currently undergoing a transformation in response to rapid urbanization, diet diversification, and the liberalization of foreign direct investment in the food sector.
Big players in the food & beverage industry are investing in the food automation whereas small- or medium-sized (SME) companies have been much slower in incorporating automation. The high variability of food products, complexity of food processes, and requirement of high investments, limit the use of automation/robots in the food industry. On the other hand, one of the greatest difficulties the food processing industry faces is addressing the skills gap, such as finding enough skilled engineers to operate and maintain the machines. Large investments in R&D activities, laboratories, and research equipment and hiring trained professionals also pose a barrier for this market.
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The food automation market is dominated by key players such as include the Rockwell Automation, Inc. (U.S.), Siemens AG (Germany), ABB Ltd (Switzerland), Mitsubishi Electric Corporation (Japan), and Schneider Electric SE (France). Other players include Yokogawa Electric Corporation (Japan), GEA Group (Germany), Fortive Corporation (U.S.), Yaskawa Electric Corporation (Japan), Rexnord Corporation (U.S.), Emerson Electric Co. (U.S.) and Nord Drivesystems (Germany). The key players have adopted strategic developments such as new product launches, acquisitions, expansions, partnerships, and agreements in order to explore the market in new geographies.
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