Food security technologies are the advanced technologies that produce food in large quantities to meet the surging demand from a growing population. Food security technologies include irrigation techniques, chemical technology, agriculture technology, genetic engineering, and nanotechnology.
The growing efforts by governments of emerging economies to support the farmers to meet the surging demands from consumers by implementing effective schemes to make agricultural technologies more affordable and accessible will steer the growth of the global food security technologies market. Shrinking land area due to the growing population is a key factor complementing the growth. However, the constantly growing demand for organic food further fuels the demand for food security technologies.
However, there is considerable growth in the investments and efforts of manufacturers to fuel the research and development activities in order to launch innovative technologies and generate several lucrative growth opportunities in the global food security technologies market. Manufacturers are highly emphasizing exploring approaches that combine traditional agricultural practices with advanced technologies to bring promising innovations to the market. Furthermore, people in the growing economies connect to smart networks and applications to share agriculture information and become more accessible. All of this will further drive the growth of global market during years to come.
The global food security technologies market can be segmented into technology and region.
By technology, the market can be segmented into drought & heat tolerant techniques, integrated soil fertility management, crop protection technology, nanotechnology, sprinkler irrigation, water harvesting, genetic engineering, micro-irrigation, and others.
Europe accounts for the largest share in the global food security technologies market due to the wide implementation of the latest technology in agriculture by the people in the region. However, the growing investments by the manufacture and big farmers to fuel research and development activities in the region will further result in the exponential growth of the regional market.
Asia Pacific is expected to witness significant growth in the global market due to the growing initiatives from the government to massively transform the agriculture sector. In addition, the growing agricultural education and awareness among farmers regarding the benefits of implementing advanced technologies in their farming techniques are likely to further accentuate the growth of the regional market.
Some of the significant players in the global food security technologies market are BASF, John Deere, H.J. Heinz, DuPont Pioneer, Nestle, Novozymes, Bayer CropScience AG, Cargill, Mahindra and Mahindra, and Kraft Foods Inc. To cite, India signed an agreement with three US-based tech companies to modernize its agricultural sector. This initiative focuses on driving massive transformation in the traditional agricultural sector.