Industry Background:
Artificial intelligence in food and beverages will be defined as solutions that help in improving the supply chain of the food & beverages industry. This solution provides gives another way to fulfill their customers at lower costs. The advent usage of artificial intelligence, in the food & beverages industry, has offered various advantages such as increases efficiency and execution of product delivery; increase food security, and also reduces wastage of food.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | GREEFA (Netherlands), Honeywell International Inc.(United States), Martec of Whitell Ltd. (United Kingdom), Sesotec GmbH (Germany), Key Technology Inc.(United States), Raytec Vision SpA (Italy), Rockwell Automation (United States), ABB Ltd. (Switzerland), Foodable Network, LLC. (United States) and Agco Corporation (United States) |
According to AMA, the market for AI in Food and Beverage is expected to register a CAGR of 65.3% during the forecast period to 2028. This growth is primarily driven by Changing and growing consumer preference towards affordable, easily accessible, and fast food options has ushered in a transformation in the food and beverage industry.
Globally, a noticeable market trend is evident The continuous adoption of advanced technology in the food & beverages industry
The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as GREEFA (Netherlands), Honeywell International Inc.(United States), Martec of Whitell Ltd. (United Kingdom), Sesotec GmbH (Germany), Key Technology Inc.(United States), Raytec Vision SpA (Italy), Rockwell Automation (United States), ABB Ltd. (Switzerland), Foodable Network, LLC. (United States) and Agco Corporation (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. AI in Food and Beverage market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
March 2019 - TOMRA Sorting Recycling launched a cloud-based dat platform, TOMRA Insight, which unlocks new opportunities for sorting equipment users. This can transform sorting from an operational process into a management tool for fact-based decision-making at each step of the value and production chain.
August 2018 - Key Technology introduced VERYX digital sorters for fresh-cut leafy greens. VERYX is the world’s only belt-fed sorter that can inspect products entirely in-air with top and bottom sensors, in order to detect and eliminate all foreign materials (FM) and product defects. By combining Key’s expertise in sorting and conveying, these integrated VERYX systems are specifically designed to handle the challenges of sorting leafy greens.
Influencing Trend:
The continuous adoption of advanced technology in the food & beverages industry and The growing concern regarding the improvement of supply chain efficiency
Market Growth Drivers:
Changing and growing consumer preference towards affordable, easily accessible, and fast food options has ushered in a transformation in the food and beverage industry
Challenges:
Lack of initial investment.
Restraints:
Lack of technical AI experts will further hamper the growth of the market.
Opportunities:
Prominent market leaders are making optimum usage of advanced technologies, such as machine learning and artificial intelligence
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in AI in Food and Beverage Market
- Analysis about New Entrants in AI in Food and Beverage Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, AI in Food and Beverage Study Sheds Light on
The AI in Food and Beverage Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the AI in Food and Beverage industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where AI in Food and Beverage industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.