Artificial Intelligence (AI) in Food and Beverage Industry Set to Witness Explosive Growth by 2028
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. Focus on improving food safety standards and need to adhere to stringent regulations related to food quality and safety of processes is driving adoption of Artificial Intelligence in the food and beverages industry.
This report also includes an exhaustive analysis of their product profiles to explore the products and applications their operations are concentrated on in the global Artificial Intelligence (AI) in food and beverage market. Additionally, the report gives two distinct market forecasts, one from the perspective of the producer and another from that of the consumer. It also offers valuable recommendations for new as well as established players of the global Artificial Intelligence (AI) in food and beverage market. It also provides beneficial insights for both new as well as established players of the global Artificial Intelligence (AI) in food and beverage market. The report analyzes the leading players of the global Artificial Intelligence (AI) in food and beverage market by inspecting their market share, recent developments, new product launches, partnerships, mergers, or acquisitions, and their target markets
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The competitive landscape is broadly evaluated alongside the company profiles of key players engaged in the About Artificial Intelligence (AI) In Food And Beverage market are 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.
as well as new entrants in the market. It focuses on the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, brand promotions, and product launches, among others. The report also provides details about the company overview, business expansion plans, product portfolio, manufacturing and production capacity, global market position, financial status, and consumer base.
Key Highlights From The Report
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.
Consumer engagement segment revenue is expected to expand at a rapid CAGR of 45.2% during the forecast period. Food and beverage companies are increasingly deploying Artificial Intelligence that can monitor emotions of customers over social media networks and platforms in order to obtain responses of consumers, using which food and beverage companies can improve customer experience and enhance product offerings.
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.
The report also covers the scope of individual applications and types in each region. The report also covers details about production and consumption patterns, technological developments, revenue growth, market size, market share, key trends and demands influencing market growth in the region, and robust presence of key players in the region.
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Emergen Research has segmented the global ARTIFICIAL INTELLIGENCE (AI) IN FOOD AND BEVERAGE market on the basis of product, end-use, 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
Maintenance
Food Sorting
Production and Packaging
Quality Control and Safety Compliance
Other Applications
Regional Outlook (Revenue, USD Billion; 2021–2028)
North America (U.S.) (Canada) (Mexico)
Europe (Germany) (UK) (France) (BENELUX) (Rest of Europe)
Asia Pacific (China) (Japan) (South Korea) (Rest of APAC)
Latin America (Brazil) (Rest of LATAM)
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Report Objectives
Examine the size of the global Artificial Intelligence (AI) in food and beverage market based on the parameters of value and volume.
Accurately calculate the market shares, consumption, and other essential aspects of different segments of the global Artificial Intelligence (AI) in food and beverage market.
Explore the underlying dynamics of the global Artificial Intelligence (AI) in food and beverage market.
Highlight significant trends of the global Artificial Intelligence (AI) in food and beverage market based on factors including, production, revenue, and sales.
Extensively profile top players of the global Artificial Intelligence (AI) in food and beverage market and showing how they compete in the industry.
Study manufacturing processes and the costs, product pricing, and various trends associated with them.
Analyze the performance of different regions and countries in the global Artificial Intelligence (AI) in food and beverage market.
Forecast the market size and share of all segments and regions in the global landscape.
The research contains the details about the latest events in the Artificial Intelligence (AI) in food and beverage market including but not limited to the product launches, acquisition and mergers, collaborations and technology advancements with an aim to help business evangelists, product owners and marketing personnel understand what the future demands, customer preferences, consumption volume, production capacity and supply chain management of the Artificial Intelligence (AI) in food and beverage market will be like.
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