FOOD AUTOMATION MARKET ANALYSIS
Rapid technological advancements, growing demand for food safety, and stringent regulations imposed by regulating bodies on food and beverage products are major key factors fuelling growth of the food automation market.
However, high initial investment associated with installation of such equipment is a major factor restraining growth of the market, as small and medium scale players often experience shortage of sufficient capital to install automated equipment in their factories.
The food automation market is marked by intense competition from major manufacturers operating in this market. Mergers and acquisitions, joint ventures and partnerships, and technological innovations are some of the key strategies adopted by these companies in order to ensure long-term sustenance in this market. Notable acquisitions in the food automation industry include acquisition of major shares of Cabinplant AG by CTB in September 2016 and acquisition of Jorgensen Engineering by XANO in November 2016.
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