Food Security Technologies Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Albany, NY -- (SBWIRE) -- 12/15/2016 -- The global food security technologies market is expected to grow rapidly during the period from 2015 to 2023 due to growing adoption of food security technologies across the regions of North America and Europe.
Increasing Food Security Applications in Agriculture to Drive Global Market
Factors such as rapid growth in demand for food security technologies and applications in the agriculture sector, increasing awareness about food security technologies, and support from the government will drive the global food security technologies market during the forecast period. Increase in the use of technology in food production and security is the primary reason for the growth of the global food security technologies market. For example, as per the statistics and reports provided by the Food and Agriculture Organization (FAO), the area under organic agriculture increased from 21 mn hectors in 2004 to 37 mn hectors in 2012, worldwide. Rapid rise in the use of advanced technologies and applications of organic agriculture will propel food security applications in the coming few years.
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Government support for the use of food security applications and recent introduction of several applications from leading players will further drive the global food security technologies market during the forecast period. Some of the restraints that the global food security technologies market will face in the competitive market include the increasing cost of advanced technologies, limited availability of resources, and technical incompatibilities in many regions across the globe. However, irrespective of the restraints, the global food security technologies market is expected to observe steady growth during the forecast period.
North America to Account for Highest Share in Global Food Security Technologies Market
The global food security technologies market is segmented on the basis of geography and technologies. By geography, the global food security technologies market is divided into regions such as Europe, Asia Pacific, North America, and Rest of the World. Europe and North America are the two most prominent regions in the global food security technologies market owing to strong research and development practices. Implementation of technologically advanced food security applications and the latest research and development trends will allow the North America and Europe regions to dominate the global food security technologies market during the forecast period.
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Among other regions, Asia Pacific is expected to witness the strongest development during the forecast period. By technology, the global food security technologies market is divided into technologies such as micro irrigation, precision agriculture, sprinkler irrigation, integrated soil fertility management, organic agriculture, no-tile technique, crop protection technologies, heat tolerant characters, and draught tolerant characters. Food security applications include the use of advanced techniques such as pesticides and fertilizers, agriculture biotechnologies, nanotechnology, micro irrigation, and chemical tools. The primary focus of food security applications and technologies is to avoid wastage of food by producing the required amount of food products that would fulfill the needs of people in the respective regions.
The global food security technologies market is marked by leading players in the market introducing different food security technologies in different areas. Some of the prominent players in the global food security technologies market are Bayer CropScience AG, Cargill Incorporated, Mahindra and Mahindra, DuPont Pioneer, H.J. Heinz, Nestle, John Deere, Novozymes, Kraft Foods, BASF and others.