Artificial Intelligence (AI) in Food and Beverage Market
The global Artificial Intelligence (AI) in food and beverage market is expected to reach a market size of USD 62.83 Billion at a steady CAGR of 44.4% in 2028, according to latest analysis by Emergen Research. This steady revenue growth can be attributed to increasing need for more secure and efficient production facilities in food and beverages industries. Food and beverages industries are increasingly adopting AI solutions to track costs, oversee stock levels, and maintain transparency in supply chain processes. Rising need to reduce food waste is also driving utilization of AI in the food and beverages industry.
The report offers a bird’s eye view of the Artificial Intelligence (AI) in Food and Beverage market with regards to economic scenario, competitive landscape, production and demands, and consumption analysis. The report also offers a stringent analysis of the market drivers, restraints, limitations, challenges, growth prospects, and threats of the market. The report provides an extensive analysis of the market segmentation and expansion across key regions.
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Key Highlights of Report
- In October 2020, ABB Ltd. announced the acquisition of Codian Robotics B.V., which is a leading provider of delta robots. The offerings of Codian Robotics include a hygienic design line, which is ideal for hygiene-sensitive industries, including pharmaceuticals and food and beverages.
- Food processing industry segment accounted for largest market share of 49.0% in 2020. Increasing initiatives across food processing industries and rising adoption of AI-powered solutions at food processing units are expected to continue to drive revenue growth of this segment.
- North America accounted for largest revenue share contribution to the global Artificial Intelligence (AI) in food and beverage market in 2020. Food processing companies in countries in the region are increasingly adopting robotics and AI to assist in monitoring consumer requirements and aid in enhancing product offerings.
- Key players in the market include Raytec Vision S.p.A., Rockwell Automation Inc., ABB Ltd., Honeywell International Inc., Key Technology Inc., TOMRA Sorting Solutions AS, GREEFA, Sesotec, Sight Machine Inc., and AGCO Corporation.
Artificial Intelligence (AI) in Food and Beverage Market Segmentation:
Emergen Research has segmented the global Artificial Intelligence (AI) in food and beverage market on the basis of end-use, application, and region:
- End-use Outlook (Revenue, USD Billion; 2021–2028)
- Hotel and Restaurant
- Food Processing Industry
- Beverage Industry
- Application Outlook (Revenue, USD Billion; 2021–2028)
- Consumer Engagement
- Food Sorting
- Production and Packaging
- Quality Control and Safety Compliance
- Other Applications
Regional Analysis of the Artificial Intelligence (AI) in Food and Beverage Market:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
AsiaPacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Focal Points of the Global Artificial Intelligence (AI) in Food and Beverage Market Report:
- Market Coverage: This section of the report covers significant details on the key manufacturers, vital market segments, product innovation scope, and the forecast years. Additionally, it describes in detail the range of the product and the global Artificial Intelligence (AI) in Food and Beveragemarket segmentation based on product type and application spectrum.
- Executive Summary: In this chapter, the global market growth rate, competitive landscape, drivers and constraints, trends, limitations, and the key market segments have been discussed at length.
- Regional Analysis: The report offers meaningful insights into the import and export trends, production and consumption capacities, estimated revenue share, and key players of each region dominating the market
- Competitive Landscape: The report also discusses the course of development of each market player in this industry vertical during the forecast period. It further details on the firms, industries, organizations, vendors, and local manufacturers engaged in this industry. The leading products and services to gain global and regional market shares form the competitive landscape of the Artificial Intelligence (AI) in Food and Beverage industry.
- Manufacturers’ portfolios: This section includes detailed information regarding the product portfolio of each local and global manufacturer, their strengths and weaknesses, product profiles, production value and capacity, and other vital information.
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2020-2028
Chapter 3. Key Insights
Chapter 4. Artificial Intelligence (AI) in Food and Beverage Market Segmentation & Impact Analysis
4.1. Artificial Intelligence (AI) in Food and Beverage Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
188.8.131.52. Rising need to improve food safety standards
184.108.40.206. Increasing need for more secure and more precise production lines
220.127.116.11. Minimization of human errors and associated inaccuracies
4.2.3. Market restraints analysis
18.104.22.168. High cost associated with large scale deployment of the technology
22.214.171.124. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 5. Artificial Intelligence (AI) in Food and Beverage Market By End-use Insights & Trends, Revenue (USD Billion)
5.1. End-use Dynamics & Market Share, 2020 & 2028
5.1.1. Hotel and Restaurant
5.1.2. Food Processing Industry
5.1.3. Beverage Industry
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