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. The today's report, Artificial Intelligence (AI) in Food and Beverage market permits stakeholders to advantage insights into their capacity customers to construct extra powerful advertising and marketing techniques for the forecast period, 2021 to 2028. Most importantly, the report empowers business owners to seek information about potential customers and in which they could discover them. 

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.

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Further key findings from the report suggest

  • In October 2020, ABB Ltd. announced the acquisition of Codian Robotics B.V., which is a leading provider of delta robots. The offerings of Codian Robotics include a hygienic design line, which is ideal for hygiene-sensitive industries, including pharmaceuticals and food and beverages.
  • 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.

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Report Objective:

The report offers a complete analysis of the global Artificial Intelligence (AI) in Food and Beverage market with details about each market player including company profile, financial standing, global position, revenue contribution, production and manufacturing capacity, business expansion plans, and new product launches. Key players are strategizing various plans such as M&A acquisition, partnerships, joint ventures, license agreement and collaborations. 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. and others are some of the top companies profiled in the report.

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 end-use, application, 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 segmentation comprises of a current and forecast estimation of the market in the key geographical regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report addresses the following key points:

  • The report provides a forecast of market drivers, restraints, and future opportunities for the Artificial Intelligence (AI) in Food and Beverage market
  • The report further analyses the changing market dynamics
  • Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
  • Extensive competitive landscape mapping with profiles of the key competitors
  • In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
  • Revenue forecast, country scope, application insights, and product insights

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