Artificial Intelligence (AI) in Food and Beverages Market High Demand, Growth, Forecast Research, Key Manufacturers

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The growing need to improve food safety standards is a key driver for the growth of the global artificial intelligence (AI) in food and beverage market.

VANCOUVER, BC, CANADA, April 27, 2022 /EINPresswire.com/ — Artificial intelligence (AI) in the food and beverage market is expected to reach a market size of USD 62.83 billion at a stable CAGR of 44.4% in 2028, according to the latest analysis from Emergen Research. This steady revenue growth can be attributed to the growing need for safer and more efficient production facilities in the food and beverage industries. Food and beverage industries are increasingly adopting AI solutions to track costs, monitor inventory levels, and maintain transparency in supply chain processes.

The growing need to reduce food waste is also driving the use of AI in the food and beverage industry. The focus on improving food safety standards and the need to meet strict regulations related to food quality and process safety are driving the adoption of artificial intelligence in the food industry.

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The Artificial Intelligence (AI) in Food and Beverages market report offers in-depth knowledge and insights on the Artificial Intelligence (AI) in Food and Beverages market regarding market size, share trends, growth influencing factors, opportunities and current and emerging trends. The study further assesses the regional market as well as the international market to get an insight into the scope of the market. The report provides in-depth insights into the technological advancements, industrial landscape and emerging technological and product developments in the Artificial Intelligence (AI) in Food and Beverage market. It offers fruitful business insights to help businesses take advantage of lucrative growth opportunities.

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Some highlights of the report

In October 2020, ABB Ltd. announced the acquisition of Codian Robotics BV, which is a leading supplier of delta robots. Codian Robotics’ offerings include a hygienic design line, ideal for hygiene-sensitive industries including pharmaceutical, food and beverage.

The food processing industry segment accounted for the largest market share of 49.0% in 2020. Rising initiatives in food processing industries and growing adoption of solutions powered by AI in food processing units is expected to continue to drive revenue growth for this segment.

Revenue from the consumer engagement segment is expected to grow at a rapid CAGR of 45.2% during the forecast period. Food and beverage companies are increasingly deploying artificial intelligence that can monitor customer emotions across social media networks and platforms to elicit consumer responses, through which food and beverage companies beverages can enhance the customer experience and improve product offerings.

The report further offers comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers the strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches and brand promotions, among others. The report aims to provide readers with a comprehensive understanding of the relevant characteristics of the industry.

Key Players profiled in the report are:

Raytec Vision SpA, Rockwell Automation Inc., ABB Ltd., Honeywell International Inc., Key Technology Inc., TOMRA Sorting Solutions AS, GREEFA, Sesotec, Sight Machine Inc. and AGCO Corporation.

Additionally, the report provides a comprehensive overview of the Artificial Intelligence (AI) in Food and Beverage market along with the product portfolio and market performance. The report offers key insights on market share, supply chain analysis, supply and demand relationship, import/export details, and product and consumption patterns. For better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.

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The analysis of the segments and their growth projection is carried out by historical and current in-depth analysis of the market scenario. Additionally, the report provides details about the drivers and characteristics of Artificial Intelligence (AI) in Food and Beverage Market which is expected to drive the growth of the industry in the coming years.

Emergen Research has segmented the global Artificial Intelligence (AI) in Food and Beverages market based on end-use, application, and region:

End-Use Outlook (Revenue, USD Billion; 2021-2028)

Hotel and Restaurant

Food industry

The beverage industry

Application Outlook (Revenue, USD Billion; 2021-2028)

Consumer Engagement

Maintenance

Sorting of food

Manufacturing and packaging

Quality control and safety compliance

Other Apps
Key questions answered by the report:

What is the growth rate of Artificial Intelligence (AI) in the Food and Beverage Market? What is the anticipated market valuation of artificial intelligence (AI) in the food industry by 2028?

What are the key driving and restraining factors for the growth of Artificial Intelligence (AI) in Food and Beverage Market?

Who are the major players operating in the market? What are the main strategies adopted by these companies?

What are the key opportunities and growth prospects for artificial intelligence (AI) in the food and beverage industry over the forecast period?

Which region is expected to show significant growth in the coming years?

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