Food Security Technology Market: Global Industry Analysis and Forecast (2021-2027) by Technology, End-user and Region

Food Security Technology Market size was valued at US$ 5,156.23 Million in 2020 and the Food Security Technology Market revenue is expected to grow at 7.6% through 2021 to 2027, reaching nearly US$ 8,610.30 Million.
Food Security Technology Market Overview:
The rising population and demand for food are key factors to increase the Food Security Technology Market. Providing nutritious, safe and sufficient quantity of food to maintain a healthy and active life is one of the major global concerns nowadays. A growing population is putting pressure on the farmers and agricultural ecosystem to adopt the new technology for increase food production. Thus the adoption of New Technologies and innovation is playing an important role in improving agricultural productivity to meet the demands of healthy and nutritious food. It requires higher investment costs but reduces the labor charge and more productivity in a short time. Food security technology is important for boosting the agricultural sector. During the pandemic, the scarcity of food is increasing at the global level. Therefore to fulfill the demand of people during pendamic, farmers had adopted a new technology and innovations. This factor is expected to fuel the demand for Food Security Technologies.



To know about the Research Methodology :- Request Free Sample Report

In this report, Food Security Technology Market growth reasons, as well as the market's segments (Technology, and Region), are discussed. The study discusses the Food Security Technology Market's Drivers, Restraints, Opportunities, and Challenges. The report also helps to rectify and resolve issues related to global food scarcity.
Food Security Technology Market Dynamics:
Rising population and less land availability are the key factors for driving the growth of the Food Security Technology Market. Food security technology is experiencing rapid transformation due to new concepts and innovations in farming activities. This will become a challenging opportunity to grow the Food security market. Moreover, the introduction of smart sensors, robotic automation, digital data, and many big incumbents technology in the field of Food security technics and, growing applications of technologies in food security drives the growth of the food security technology market in terms of value sales. Increasing the demand for organic food is also contributes to the growth of the food security market.

The governments are putting affords to help farmers by implementing schemes in order to make agricultural technologies accessible and affordable. It is expected to have a strong impact on the Food Security Technology Market during the forecast period. There are some drones and sensors are available in the market which gathers the 24/7 data around the fields and provide details about temperature, rainfall, soil and humidity. In today's world, cellular technology is rapidly being used to examine and operate crop irrigation methods. So that farmer can control their irrigation systems by using a phone instead of going on the field.

Food Security Technology is not a feasible option for the farmer who has less area of cultivation. The high investment and maintenance cost and lack of skilled resources of the Food Security Technology hinder the growth of the market.
Food Security Technology Market Segment Analysis:
By Technology, the Micro Irrigation segment is growing at a CAGR of 9.3% during the forecast period. The efficiency in the use of water in drought-prone areas and rising government subsidies are some of the major factors that are projected to contribute to driving the Micro Irrigation segment.

Bio Seeds segment is projected to account for USD 1.9 billion in 2027, recording a CAGR of 11.99% during the forecast period. Due to the increase in a ban on chemical pesticides in major countries, the demand for the growth of the biological seed market is increased.

The nanotechnology segment includes the use of sensors which has the potential to bring about drastic changes in farming activity. A high quantity of water is required for the irrigation system. The growing demand for water for irrigation systems is a key driving factor to boost the water harvesting segment.

In the Sprinkler irrigation segment higher crop yield is achieved with efficient use of water. The sprinkler irrigation segment is expected to grow at a CAGR of 2.1% during the forecast period.


Food Security Technology Market Regional Analysis
North America dominates the Food Security Technology Market during the forecast period. The increasing implementation of advanced technology, rising awareness of food security and growing government subsidies are contributing to the growth of the market in this region.

Asia-Pacific region is developing rapidly. Asia-Pacific region is likely to result in a high CAGR during the forecast period. The increase in population and the vast area of farming is likely to boost the Food Security Technology Market. China is expected to grow at the largest share of the Food security technology market in the Asia Pacific region during the forecast period. China is one of the early adopters of new agriculture technologies to increase food production.
Food Security Technology Market Scope:Inquire before buying



Global Food Security Technology Market


Report Coverage
Details


Base Year:
2020
Forecast Period:
2021-2027


Historical Data:
2016 to 2020
Market Size in 2020:
US $ 5,156.23 Mn.


Forecast Period 2021 to 2027 CAGR:
7.6%
Market Size in 2027:
US $ 8,610.30 Mn.


 Segments Covered:
by End-user
• Government
• Private


by Technology
• Genetic Engineering
• Water Harvesting
• Bio Seeds
• Nanotechnology
• Crop Protection Technologies
• No-till technique
• Integrated soil fertility management (ISFM)



Food Security Technology Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Food Security Technology Market Key Players
• BASF
• Kraft Foods Inc.
• Mahindra and Mahindra
• Cargill
• Bayer CropScience AG
• Novozymes
• Nestle
• DuPont Pioneer
• H.J. Heinz
• John Deere

FAQs:

1. What are the opportunities for new market entrants?
Ans. Rising population and less land availability are the key factors for driving the growth of the Food Security Technology Market. Food security technology is experiencing rapid transformation due to new concepts and innovations in farming activities. This will become a challenging opportunity to grow the Food security market.

2. What is expected to drive the growth of the Food Security Technology Market in the forecast period?
Ans. The governments are putting affords to help farmers by implementing schemes in order to make agricultural technologies accessible and affordable. This become a major factor to driving the growth of the Food Security Technology Market.

3. What is the projected market size & growth rate of the Food Security Technology Market?
Ans. Food Security Technology Market size was valued at US$ 5,156.23 Million in 2020 and the Food Security Technology Market revenue is expected to grow at 7.6% through 2021 to 2027, reaching nearly US$ 8,610.30 Million.

4. What segments are covered in the Food Security Technology Market report?
Ans. The segments covered are Technology, End-user and Region.