AI In Food & Beverages Market Scope
Artificial Intelligence (AI) in food and beverages industry can used to reduce human errors and have positive effect on front and back end process of food and beverages. The AI including automated process would carry more quality to the product. Artificial intelligence can be used in the process of food sorting, consumer engagement, managing supply chain, developing new products and quality control.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | TOMRA Sorting Solutions AS. (Norway), GREEFA. (Netherlands), Sesotec GmbH. (Germany), Rockwell Automation Inc. (United States), ABB Ltd. (Switzerland), Honeywell International Inc. (United States), Aboard Software (United States), Analytical Flavor Systems (United States), Deepnify (Canada) and ImpactVision (United States) |
CAGR | 6.6% |
Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global AI In Food & Beverages market throughout the predicted period.
TOMRA Sorting Solutions AS. (Norway), GREEFA. (Netherlands), Sesotec GmbH. (Germany), Rockwell Automation Inc. (United States), ABB Ltd. (Switzerland), Honeywell International Inc. (United States), Aboard Software (United States), Analytical Flavor Systems (United States), Deepnify (Canada) and ImpactVision (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Key Technology Inc. (United States), Raytec Vision SpA. (Italy), Martec of Whitell Ktd. (United Kingdom) and NotCo (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global AI In Food & Beverages market by Type , by Application (Food Sorting, Consumer Engagement and Quality Control) and Region with country level break-up.
On the basis of geography, the market of AI In Food & Beverages has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Norway, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Leaders and their expansionary development strategies
In September 2023, Target research Group acquired Sponshot a food integiliant platform the target research group to offer AI Power insight for business in the food and behave rage industry
In January 2018, Tomra Sorting Recycling has signed a contract with SKM Recycling (SKM) to provide automated sorting technology. Tomra is projected to provide 40 Autosort units featuring proprietary 3D laser technology for SKM's three new sorting facilities in Australia to reduce wastage.
Food & Drug Administration's Food Safety Modernization Act (FSMA) introduced regulations in September 2016, which necessitate large food manufacturers to meet preventive controls and Current Good Manufacturing Practice (CGMPS) requirements.
Influencing Trend:
Introduction of IOT Integrates Smart Machines, Warehouses, Robots, Rising Dependency Due To Innovative Production and Adoption of Machine Learning
Market Growth Drivers:
Rising Demand Due To Innovative Packaging, Increasing Demand Due To Fast Delivery, Easily Accessible and Regulations to Improve Food Safety
Challenges:
Limited Automation in the F&B Industry in Developing Countries
Restraints:
Less Availability of Skilled Workers
Opportunities:
Rising Opportunity in AI Application for Improvement of Product Design, Quality Control and Maintenance
Key Target Audience
AI in F&B Service Providers, Industry Associations and Experts, Research Organizations and Consulting Companies., Research Institutes, Government Regulatory Bodies, Government and Private Research Organization and Others