Food Tech Market Size Worth USD 342.52 Billion by 2027

 Growth of advanced technologies within the food industry is driving global food tech market growth.  

Food Tech Market Size – USD 220.32 Billion in 2019, Market Growth – at a CAGR of 6.0%, Market Trends – Technological advancement in food processing techniques

The global food tech market is expected to reach a value of USD 342.52 Billion by 2027, according to recent analysis by Emergen Research. This growth can be attributed to increasing adoption of advanced technologies in food processing techniques for improving food safety and efficiency of production processes. Food processing companies are increasingly investing in adoption and deployment of robotics and automation across processes in the food industry. This is resulting in more hygienic processes, faster production, and higher capacity output. In addition, increasing availability of fresh products and improved visibility through online channels, is resulting is rising demand and consumption, which is driving growth of the food tech market. Food industries are investing significantly in automation and digitalization in order to meet growing demand for food due to the rapid population growth. Moreover, rising demand for healthier, cheaper, and safer and more hygienic food products is driving market growth.

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