Food Automation Market to See Strong Growth Till 2024: Beumer, Siemens, Schneider Electric, ABB, GEA Group and 15 Other Companies Profiled
Asia Pacific is the fastest growing food automation market owing to rapidly expanding food & beverages industry in the region.
Sellbyville, DE -- (SBWire) -- 01/14/2019 --Food Automation Market by application segment, beverages are projected to dominate the segment. Increasing criticality in beverages production processes, constant advancements, and new product launches in are significantly supporting product penetration. Complete vertical integration of beverage production processes by adopting process computerized solutions along with value chain optimization will further propel industry size.
Food Automation Market by packaging & re-packaging segment is the fastest growing segment owing to health and safety concerns. Manufacturers are expected to invest progressively in technological developments including automated packaging systems. Increasing necessity to overcome challenges of sustaining product safety and quality will drive food automation market size.
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Automation technologies are widely used in processing industries. It serves as a cost-effective solution by optimizing resource management, improving productivity, better asset management and mitigating security risks. Motors aid to offer appropriate functioning of systems, whereas generators ensure smooth operational flow. Additionally, implementation of different packaging machineries and robotics is anticipated to foster food automation market growth.
According to the Union Budget 2017-2018, government of India has invested US$ 1.2 billion on dairy processing. Furthermore, Confederation of Indian Industry (CII) projected that nourishment processing sector in the country will attract USD 33 billion over the forecast timeframe.
However, requirement of high initial capital investment is expected to hamper food automation market growth. Small and medium scale industry players frequently experience shortage of adequate capital to install automated machineries in their factories, that in turn restraint manufacturers businesses.
Motors & generators is expected to account for the largest food automation market share owing to increasing importance of motors in motion regulating applications over the forecast timespan. Several industrialized countries are continuously experiencing high demand for high torque, high pressure and wash down applications with detailed motion control has substantially boosted their functionality. Increasing necessity to maintain smooth and effective functioning of systems will propel industry growth.
Europe was estimated as the largest food automation market in 2016 owing to high demand for processed nourishment products, especially in Spain, Italy, UK, Germany and France. Moreover, stringent regulations imposed by several regional regulating bodies pertaining to the quality of processed nourishment products will fuel product demand over the forecast timeframe.
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Asia Pacific is the fastest growing food automation market owing to rapidly expanding food & beverages industry in the region. Improved standard of living, rising disposable income and liberalization of foreign direct investment are key factors driving industry growth. In addition, increasing adoption of automated technologies in production facilities also drives regional food automation market.
Global food automation market is fragmented owing to several large and small industry players competing on the basis of price, distribution, service, promotion, quality, innovation and reputation. Growth opportunities of the players depend on the demographic trends and shifting consumer spending pattern. Penetrating competition makes the industry players to focus on offering innovative products to meet the consumers' demands.
Key market players include Beumer, Siemens, Schneider Electric, Mitsubishi Electric, Emerson Electric, Swisslog Holding, Kollmorgen and Rexnord. Other prominent participants are Yokogawa Electric, Fortive, Nord Drivesystems, Yaskawa Electric, GEA Group, ABB Group, Ametek, Horner APG, Frontmatec, Festo AG & Co. KG, Elwood Corporation, Copa-Data and Eaton.
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