New York, NY, Aug. 19, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Artificial Intelligence (AI) in Food and Beverages Market By Organization Size (Small, Medium & Large Enterprises), By Application (Food Sorting, Quality Control, and Safety Compliance, Consumer Engagement, Production and Packaging, Maintenance, and Other Applications), By End-Use Industry (Food Processing, Grocery, Hotels & Beverages Industry, and Others Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026”.
“According to the recent research report, the demand of global Artificial Intelligence (AI) in Food and Beverages Market size & share expected to reach to USD 29.45 Billion by 2026 from USD 3.07 Billion in 2020, at a compound annual growth rate (CAGR) of 45.70% during the forecast period 2021 to 2026”
Global Artificial Intelligence (AI) in Food and Beverages Market: Overview
Artificial Intelligence (AI) is the process of developing intelligent robots that act and react similarly to humans. The objective is to teach machines how to think intelligently in the same way humans do. Until recently, the machines did exactly what they were programmed to do. AI, on the other hand, will allow machines to think and behave in the same way that people do. In the food processing industry, artificial intelligence is being utilized to improve a variety of products, streamline operations, and improve the customer experience. Artificial intelligence (AI), today’s most significant general-purpose technology, is fast gaining momentum across industries, allowing for great innovation. Machine learning, deep neural networks, robotics, and other artificial intelligence (AI) techniques are being utilized in the Food and Beverage Industry to not only solve issues but also to make processes more efficient.
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Industry Major Market Players
- ABB Ltd.
- Agco Corporation
- BBC technologies
- BoMill AB
- Bratney Companies
- Buhler Holding AG
- Compac Sorting Equipment
- Duravant LLC
- Foodable Network LLC
- Honeywell International Inc.
- INTELLIGENTX Brewing Co.
- Key Technology Inc.
- Martec Of Whitwell Ltd.
- MilltecClarfai Inc.
- National Recovery Technologies Llc
- QualySense AG
- Raytec Vision SpA
- Rockwell Automation Inc.
- Sesotec GmbH Sight Machine Inc.
- Startup Creator
- TOMRA Systems
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The food and beverage industry’s artificial intelligence (AI) market is extremely competitive, with several major players. In terms of market share, the sector is now dominated by large corporations. Acquisitions are made to broaden, complement, and improve the company’s product and service offerings, as well as to add new clients and certified workers, and to support expanding sales channels.
Key questions answered in this report:
- What is the projected market size & growth rate of Artificial Intelligence (AI) in the Food and Beverages Market?
- What are the key driving factors for the growth of Artificial Intelligence (AI) in the Food and Beverages Market?
- What are the top companies operative in Artificial Intelligence (AI) in Food and Beverages Market?
- What segments are covered in Artificial Intelligence (AI) in Food and Beverages Market?
- How can I get free sample report/company profiles of Artificial Intelligence (AI) in Food and Beverages Market?
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The increasing concern about improving supply chain efficiency, as well as the ongoing adoption of sophisticated technologies in the food and beverage sector, is a key driver driving market expansion. The growing consumer preference for affordable, easily accessible, and fast food options in the food and beverage industry, the growing need for consumer buying behavior analysis and inventory forecasting to reduce food waste, the growing demand for AI implementation to improve supply chain processes, and the growing demand for automated food sorting are all major factors. The food and beverage industry’s increasing acceptance of big data technology to improve exploration and production capabilities, as well as an increase in venture capital investments, the food and beverage industry’s growing need for automation, and significant pressure to reduce production costs, will all contribute to AI’s growth in the food and beverage market. Over the last several years, AI has gained a lot of traction, with many firms spending heavily in researching the technology’s possibilities in the sector. AI is assisting food and beverage firms with supply chain management via logistics, predictive analytics, and transparency. AI in supply chains is assisting firms in their efforts to innovate quickly by decreasing time to market and building an agile supply chain capable of anticipating and coping with risks. This is propelling AI’s rise in the food and beverage industry.
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Global Artificial Intelligence (AI) in Food and Beverages Market: Report Scope
|Market Size 2020 Value||USD 3.07 Billion|
|Market Forecast for 2026||USD 29.45 Billion|
|Expected CAGR Growth||CAGR 45.70% from 2021-2026|
|Top Market Players||ABB Ltd., Agco Corporation, BBC technologies, BoMill AB, Bratney Companies, Buhler Holding AG, Compac Sorting Equipment, Duravant LLC, and Others|
|Segments Covered||Organization Size, Application, End-Use, and Region|
|Geographies Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
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Global Artificial Intelligence (AI) in Food and Beverages Market: Segmentation
The global artificial intelligence (AI) in the food and beverages market is segregated based on organization size, application, end-user, and region. Based on organization size, the global artificial intelligence (AI) in the food and beverages industry is categorized into small, and medium & large enterprises. Based on application, the global artificial intelligence (AI) in the food and beverage industry is categorized into quality control and safety compliance, food sorting, production and packaging, consumer engagement, maintenance, and other applications.
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North America is projected to Dominate Global Artificial Intelligence (AI) in Food and Beverages Market Growth
In terms of value, North America was the largest market for artificial intelligence (AI) in food and beverages in 2020. The North America region is expected to account for the largest share of AI in the food and beverages market over the forecast period. Along with the growing adoption of artificial intelligence among oilfield employees and service providers, as well as the significant presence of key AI vendors, notably in the United States and Canada. In the Asia Pacific, artificial intelligence in the food and beverage market is anticipated to grow at the fastest rate. The growing usage of deep learning and Neuro-Linguistic Programming (NLP) technology in applications, marketing, and finance is driving the rapid expansion of artificial intelligence in the food and beverage sector in the Asia Pacific. Furthermore, the presence of several of the region’s major market companies led to the region’s exponential expansion of artificial intelligence in the food and beverage sector.
Browse the full report “Artificial Intelligence (AI) in Food and Beverages Market By Organization Size (Small, Medium & Large Enterprises), By Application (Food Sorting, Quality Control, and Safety Compliance, Consumer Engagement, Production and Packaging, Maintenance, and Other Applications), By End-Use Industry (Food Processing, Grocery, Hotels & Beverages Industry, and Others Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/artificial-intelligence-in-food-and-beverages-market
The Global Artificial Intelligence (AI) in Food and Beverages Market is segmented as follows:
By Organization Size:
- Medium & Large Enterprises
- Food Sorting
- Quality Control and Safety Compliance
- Consumer Engagement
- Production and Packaging
- Other Applications
By End-Use Industry:
- Food Processing
- Hotels & Beverages Industry
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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