Food Robotics Market Expected to grow at a 13.0% CAGR by 2023 | Top Players are Mitsubishi Electric Corporation, ABB Group, Rockwell Automation Incorporated, Kawasaki Heavy Industries Ltd.
The Food Robotics Market was valued at $1,535 million in 2016 and is projected to reach $3,612 million by 2023, growing at a CAGR of 13.0% from 2017 to 2023. Asia-Pacific is one of the prominent customers of food robotics and held more than three-fifths of the total market share in 2016.
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Technological progress in different industries broadens the application horizon of robotics. Important applications of robotics are automotive, electrical engineering and electronics, metal, chemistry and plastics and food. Robotics has been used in the food industry in recent years. This is mainly attributed to the advantages these robots offer, such as high productivity, better cleanliness and hygiene, more flexibility and others.
In 2016, Asia-Pacific accounted for approximately three-fifths share of the total food robotics market and are expected to continue to be dominant during the forecast period. The Asia-Pacific food robotics market is anticipated to grow at a significant CAGR, specifically in China, India, and the other developing countries. Rise in food & beverage sector and increase in demand for packaged food is the major reason for the growth of the market in Asia-Pacific.
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The Major Key Players Are:
• Mitsubishi Electric Corporation
• ABB Group
• Rockwell Automation Incorporated
• Kawasaki Heavy Industries Ltd.
• Kuka AG
• Fanuc Corporation
• Yaskawa Electric Corporation
• Seiko Epson Corporation
• Staubli International AG
• Universal Robotics A/S.
Increase in the food safety regulations is anticipated to drive the demand for food robotics in the near future. In addition, employee safety rules is expected to replace manual labors with industrial robots. These robots have added advantage that, they can perform multiple tasks at the same time, thus giving more and improved productivity. The changes in lifestyle of people results in surge in demand for packaged and ready-to-eat food products. This in turn, is anticipated to boost the demand for food robotics during the analysis period.
Articulated segment is expected to maintain dominance in the global food robotics market during the forecast period. However, scara are anticipated to gain traction in the near future. Increase in demand for automation in food & beverage industry is anticipated to drive the growth of this segment in the near future. In 2016, articulated and scara collectively accounted for approximately three-fifths share in the global food robotics market.
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Medium payload food robotics accounted for lions share in the global food robotics market in 2016 and is anticipated to remain dominant during the forecast period. These robots offer high flexibility and better process control to cater to the changing manufacturing needs in this industry.
Palletizing application segment is anticipated to remain dominant in the global food robotics market during the analysis period. In 2016, palletizing and processing application segments collectively accounted for approximately half share in the global food robotics market. Processing application segment is anticipated to expand at the highest CAGR during the forecast period, owing to increase in demand in meat processing industry.
Key Findings of the Food Robotics Market:
• In terms of value, the articulated segment is expected to grow at a CAGR of 12.5% during the forecast period.
• Asia-Pacific is projected to maintain its lead position throughout 2023, growing at a CAGR of 15.1%, in terms of value. LAMEA is anticipated to witness the highest growth during the forecast period.
• Palletizing application segment is estimated to occupy more than two-fifths share of the total market in 2016.
• China is expected to occupy more than one-third of the total Asia-Pacific food robotics market by 2023.
• In the global food robotics market, India is expected to grow at a CAGR of 20.8%, in terms of value, from 2017 to 2023.
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