IMARC Group, a leading market research company, has recently releases report titled “Artificial Intelligence (AI) in Food & Beverages Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global artificial intelligence (AI) in food & beverages market share, size, trends and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the artificial intelligence (AI) in food & beverages market?
|Market Size in 2022||US$ 5.27 Billion|
|Market Forecast in 2028||US$ 43.9 Billion|
|Growth rate (2023 to 2028)||CAGR of 39.6%|
|Base Year of the Analysis||2022|
What is artificial intelligence (AI) in food & beverages?
Artificial intelligence (AI) is a computer science field focused on developing robots that can simulate human intelligence and perform various industrial tasks that typically require human intervention. AI in the food and beverage (FB) sector is used to execute various functions such as quality control , transportation meal, consumer engagement, industrial standard compliance, food sorting, and product packaging. It optimizes workflow, reduces the workload of workers, facilitates innovation of new products based on consumer recommendations, and enhances the purchasing experience. As a result, AI in food and beverages finds extensive applications in logistics, reducing human errors and making informed business decisions across the globe.
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What are the growth prospects and trends in the artificial intelligence (AI) in food & beverages?
The market is primarily driven by the increasing need to supply chain operational efficiency and the adoption of automated services for sorting diverse food and beverage products. Moreover, the growth of the hotel, restaurant, and catering (HoReCa) sector has augmented the product demand. Additionally, the surging adoption of AI in FB to forecast inventory levels, monitor product quantities, detect production cycle time and minimize machine downtime as it reduces operational expenses has catalyzed the market growth. ML) solutions that deduce end goals, refine market strategies, and reduce warehousing costs, are contributing to market growth. Other factors, including the rapid expansion of the FB industry,the rising establishment of quick-service restaurants (QSRs), and increasing collaborations among key players, are also anticipated to drive the market further.
What is included in market segmentation?
The report has segmented the market into the following categories:
- Food Sorting
- Quality Control and Safety Compliance
- Consumer Engagement
- Production and Packaging
End Use Insights:
- Food Processing Industry
- Hotel and Restaurant
- Beverage Industry
Breakup by Geography:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- ABB Ltd.
- Sesotec GmbH
- Siemens AG
- Sight Machine
- TOMRA System ASA
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