The global food and agriculture technology market is projected to expand at a 9.61% CAGR, achieving USD 922.478 billion by 2030 from USD 583.066 billion in 2025.
Farm equipment and food items are developed using agricultural and food technology. Agriculture and food production involves a variety of technologies, including robotics, aerial photography, GPS, moisture and temperature sensors, and others. Modern technology and robotic systems enable lucrative, efficient, safe, and secure corporate operations. Drones, planting and weeding robots, autonomous tractors, chilled storage, and harvest automation are some of the main technology that farms frequently utilize. The food business uses a range of technologies to produce goods using plant-based proteins and cultured meat.
Farm automation technology may significantly improve agricultural enterprises' productivity, profitability, and sustainability. The use of automation and other cutting-edge technology may result in the loss of human labor, which might have a detrimental impact on the local economy and communities. It is essential to make sure that agricultural automation technologies are implemented in a way that takes these possible effects into account and resolves them.
Growing adoption of cutting-edge genetic technologies, rising food safety awareness, rising consumer preferences for packaged and processed foods, the prevalence of legalized marijuana, and growing demand for temperature control are factors controlling the market growth. Increasing applications from emerging markets, combined with the availability of big data in agricultural farms, will, on the other hand, further boost several opportunities that will contribute to the expansion of the food and agriculture technology and product market during the period covered by the forecast.
The market for food and agricultural technologies and products is expanding as a result of rising technological advancements that encourage the use of smart agriculture practices all over the world. Smart farming techniques are used to manage the entire farm, automate greenhouses, monitor animals, and manage weather information. IoT is providing cloud computing platforms and big data analytics solutions to enhance agricultural performance and output to meet the demands of the expanding population. Hence, the market for food and agricultural technology and products would expand more throughout the predicted period.
Governments from all around the world are collaborating with diverse food and beverage producers, agro-processors, and financial institutions to advance programs for sustainable agriculture. These programs seek to boost farmers' production and efficiency as well as increase food security. In addition, partnerships between public and private companies in emerging countries like China, India, and Brazil have increased the opportunities for farmers to make money, which has boosted the development of the market for smart agriculture. Also, several agriculture-related sectors are working with various European governments to incorporate cutting-edge technologies like IoT and machine learning, which will help farmers effectively plan and carry out a variety of agricultural activities, resulting in a profitable potential for market expansion.
The Asia Pacific area dominates the market for food and agricultural technology and goods, in part because of the region's strong demand for processed food items and the expansion of its middle-class population. The substantial consumption of processed meat, seafood, and proteins like soy protein in the area also contributes to the market's growth. The development and acceptance of new technology and products in the sector, such as cutting-edge machinery, automation, and sustainable practices, are being driven by several large agricultural and food processing corporations based in the Asia Pacific area. Due to the rising population, shifting consumer tastes, and the uptake of new technologies, the market in this area is anticipated to develop over the next years.
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