Food Security Technologies Market Size, Share Report, Analysis, Trends, Growth, 2030

Food Security Technologies Industry Prospective:

The global food security technologies market size was evaluated at $5 billion in 2022 and is slated to hit $8 billion by the end of 2030 with a CAGR of nearly 6.05% between 2023 and 2030.

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Food Security Technologies Market: Overview

Food security technologies are the use of advanced techniques for the production of adequate food, to satisfy the demand from the increasing population. Food security technologies include nanotechnology, genetic engineering, agricultural technology, chemical technologies, irrigation techniques, and others.

According to the World Food Summit, food security exists when all individuals, at all times, have physical and economic access to sufficient, safe, nutritious food to meet their dietary needs and food preferences for an active life.  

Key Insights

• As per the analysis shared by our research analyst, the global food security technologies market is projected to expand annually at the annual growth rate of around 6.05% over the forecast timespan (2023-2030)
• In terms of revenue, the global food security technologies market size was evaluated at nearly $5 billion in 2022 and is expected to reach $8 billion by 2030.
• The food security technologies market is anticipated to grow rapidly over the forecast timeline owing to rapidly growing applications of technologies in food security and agriculture along with the accomplishment of government initiatives for implementing food security techniques.
• In terms of technology, the draught tolerant & heat tolerant techniques segment is slated to register the highest CAGR over the forecast period.
• Region-wise, the Asia-Pacific food security technologies industry is projected to register the fastest CAGR over the assessment timeline.

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Food Security Technologies Market: Growth Factors

Shrinking cultivable land area and rising population uplift the growth of the market across the globe

Escalating population and shrinking arable land are the prime factors driving the growth of the food security technologies market across the globe. Moreover, rapidly growing applications of technologies in food security and agriculture along with the accomplishment of government initiatives for implementing food security techniques are expected to boost the growth of the global market.

Additionally, an increasing awareness of food security coupled with increasing demand for organic food to fulfill the food requirements of the surging population has contributed lucratively to the growth of the market across the globe. Thriving nanotechnology, farming systems, irrigation technologies, genetic engineering, and chemical technologies will proliferate the growth of the market globally. Rise in the advanced agricultural practices, the use of drone technology in farming, and the application of IoT in agricultural activities will drive the growth of the market globally.

Food Security Technologies Market: Restraints

Scare availability of skilled workforce & growing costs can impede the global industry surge over 2023-2030

Limited skill resources and the high cost of the technologies may hamper the growth of the global food security technologies industry. Interoperability and growing concerns about data security can obstruct the growth of the global industry.

Food Security Technologies Market: Opportunities

Changing eating lifestyles & food habits can open new growth horizons for the global market

Ongoing research for product development and rapid advancement in technology is likely to open new growth avenues for the global food security technologies market. Changing dietary patterns, the rising population, and the need to ensure food safety & sustainability will steer the growth of the global market.

Climatic changes owing to weather oscillations, scarcity of water, and less availability of cultivable land are some of the factors that are projected are pose a huge challenge for food production, thereby opening new growth opportunities for the global market.

Food Security Technologies Market: Challenges

Surging initial costs of deploying the food security systems can pose a huge challenge for the global industry over2023-2030

A rise in the preliminary costs of installing food security technologies and low awareness about new technologies and the need for strong infrastructure facilities in agriculture are predicted to pose a big challenge to the growth of the food security technologies industry globally.

Food Security Technologies Market: Segmentation

The global food security technologies market is sectored into technology and region.                                    

In terms of technology, the food security technologies market across the globe is segregated into nanotechnology, no-till technique, draught tolerant & heat tolerant techniques, crop protection technologies, genetic engineering, bio-seeds, micro-irrigation, integrated soil fertility management (ISFM), sprinkler irrigation, water harvesting, and others segments.

Furthermore, the draught tolerant & heat tolerant techniques segment, which acquired nearly 55% of the global market proceeds during 2023-2030, is projected to register the fastest CAGR over the forecast timeline. Moreover, the segmental surge over the forecasting years can be subject to the rise in the use of draught tolerant & heat tolerant techniques in farming activities.

Food Security Technologies Market: Report Scope

Food Security Technologies Market: Regional Insights

North America is predicted to establish a strong position in the global food security technologies market in the coming years

North America, which accounted for nearly two-fifths of the global food security technologies market revenue in 2022, will be the leading region in the next eight years. Moreover, the regional market elevation over the forecast timeline can be credited to the wide execution of advanced technology and an increase in research activities in the region. Moreover, countries such as the U.S. and Canada are likely to be the key regional revenue pockets.

Asia-Pacific food security technologies industry is set to register the highest CAGR in the forecast timeline. The growth of the industry in the sub-continent over the forecast timeline can be owing to the presence of mammoth players in countries such as Taiwan, South Korea, China, and Japan. Furthermore, government support, rising awareness, increasing population, and strict implementation of technology in the region will drive the regional industry trends in the years to come.

Key Developments

• In December 2023, Covestro AG, a Germany-based firm manufacturing polycarbonate and polyurethane, introduced a food security tool referred to as ‘Farming Forward’ for reducing post-harvest losses.
• In August 2023, FMC Corporation, a key firm in the agricultural sciences sector, launched a $31 million commitment to the zero-hunger private sector pledge. The move is predicted to boost the growth of the market across the globe.
• In October 2022, the International Finance Corporation introduced a global food security tool for $6 billion. The initiative is aimed at helping stabilize the volatile food sector along with aiding food security.

 Food Security Technologies Market: Competitive Space

The global food security technologies market profiles key players such as:

• BASF SE
• Kraft Foods Inc.
• Mahindra and Mahindra
• Cargill Inc.
• Bayer CropScience AG
• Novozymes AG
• Nestle S.A.
• DuPont Pioneer
• H.J. Heinz Corporation
• John Deere.

The global food security technologies market is segmented as follows:

By Technology

• No-Till Technique
• Genetic Engineering
• Bio-Seeds
• Micro-Irrigation
• Nanotechnology
• Integrated Soil Fertility Management (ISFM)
• Sprinkler Irrigation
• Water Harvesting
• Crop Protection Technologies
• Draught Tolerant & Heat Tolerant Techniques
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa