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Food Robotics Market Grow with 13.0% CAGR with Top Companies Kuka AG, ABB Group, Universal Robotics A/S & Many More

02-26-2020 11:52 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Food Robotics Market

Food Robotics Market

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, accounting for more than three-fifths of the total market share in 2016. Food robotics refers to the machines used in the food & beverage industry to perform various complex activities such as picking, packing, and palletizing. Various technological advancements across numerous sectors have brought fictional robots to reality. Increase in demand for enhanced productivity augments the deployment of robots to automate the tasks, resulting in robots being an integral part of various industries. Globally, the demand for packaged food is anticipated to increase at a moderate rate during the forecast period. This is expected to increase the food robotics market demand in the near future. In addition, the increase in food safety regulations is expected to boost the demand for food robotics during the analysis period.

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The demand for food robotics has been steadily increasing. Increase in the food safety regulations is anticipated to drive the demand for food robotics in the near future and provide avenues for the food robotics market growth. In addition, it is expected that manual labor will be completely replaced with industrial robots. These robots are advantageous as they can perform multiple tasks at the same time, leading to improved productivity. The changes in lifestyle of people result in surge in demand for packaged and ready-to-eat food products, which in turn is anticipated to boost the demand for food robotics during the analysis period

Based on the food robotics market forecast in 2016, the articulated segment is expected to maintain dominance in the global market during the forecast period. However, SCARA is anticipated to gain traction in the near future, owing to increase in demand for automation in the food & beverage industry. In 2016, articulated and SCARA collectively accounted for approximately three-fifths of the total global market share.

According to the food robotics market analysis in 2016, the medium payload food robotics accounted for maximum share in the global food robotics market and is expected 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.

The palletizing application segment is projected 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 market. The processing application segment is anticipated to register at the highest CAGR, owing to increase in demand in meat processing industry.

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Based on geography, the food robotics industry is segmented into North America, Europe, Asia-Pacific, and LAMEA. An increase in demand for food robotics services in Asia-Pacific and LAMEA is expected in the near future, owing to the augment in industrialization and high degree of implementation of automation in this region. Reducing the operating costs and labor cost is anticipated to boost the demand for robotics in food & beverage industry.

The key players profiled in the report include 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, and Universal Robotics A/S.

Key Finding of The Food Robotics Market:
Based on type, the articulated segment in the food robotics market is expected to grow at a CAGR of 12.5% from 2017 to 2023.
Based on geography, Asia-Pacific is projected to maintain its lead position throughout the forecast period, growing at a CAGR of 15.1%, in terms of value. However, LAMEA is anticipated to witness the highest growth rate.
Based on application, the palletizing application segment accounted for more than two-fifths share of the total in the global food robotics market in 2016.
Based on geography, China is expected to occupy more than one-third of the Asia-Pacific food robotics market share in 2023.
In terms of value, India is expected to grow at a CAGR of 20.8% from 2017 to 2023.
In 2016, Asia-Pacific accounted for approximately three-fifths share of the total food robotics market and is expected to continue to be dominant during the forecast period, major growth in China, India, and the other developing countries is expected. Rise in food & beverage sector and increase in demand for packaged food are major drivers of the market in Asia-Pacific.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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