Press release
Food Robotics Market Size to Surpass $4.03 Billion by 2028 With a 11.9 % CAGR
Food Robotics Market Report
The Business Research Company presents an extensive market research report on the Food Robotics Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The food robotics market size has grown rapidly in recent years. It will grow from $2.28 billion in 2023 to $2.58 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to labor shortages, increasing consumer demand, stringent food safety regulations, rising production costs, globalization of the food supply chain.
The food robotics market size is expected to see rapid growth in the next few years. It will grow to $4.03 billion in 2028 at a compound annual growth rate (CAGR) of 11.9%. The growth in the forecast period can be attributed to integration of artificial intelligence (ai), e-commerce and direct-to-consumer trends, expansion of robotics in food service, focus on hygienic design, customization and personalization. Major trends in the forecast period include collaborative robotics (cobots), rapid technological advancements, advancements in robotics technology, blockchain integration for transparency, sustainability-driven innovations.
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Key Market Players:
Major companies operating in the food robotics market report are Mitsubishi Electric Corporation, Midea Group, Denso Corporation, ABB Group, Flexicell Inc., Kawasaki Heavy Industries Ltd., Rockwell Automation Inc., OMRON Corporation, Swisslog Holding AG, Fanuc Corporation, Yasakawa Electric Corporation, KUKA AG, Nachi-Fujikoshi Corporation, Staubli International AG, Bastian Solutions LLC., Schunk GmbH, Universal Robots AS, Omron Adept Technologies, Epson India Pvt Ltd., Mayekawa Mfg. Co. Ltd., Fetch Robotics Inc., Aethon Inc., Picnic Technologies B.V., Zume Inc., IAM Robotics, Xook, Blendid, RightHand Robotics Inc., Asic Robotics AG, Bobacino
Market Drivers:
Growth in consumption of processed food is significantly contributing to the growth of the food robotics market. Processed food refers to foods that are treated or changed during preparation to preserve them. Food robots are used in food processing to automate various steps and to maintain the sanitation of the food processing premises to meet sanitation requirements. For instance, in March 2022, according to a report published by the Australian Bureau of Statistics, an Australia-based Independent statutory body of the Australian Government in charge of gathering and analyzing statistics, during 2020-2021, 14.7 million tons of non-alcoholic beverages and food was consumed in Australia, an increase of 1.4% from 2019-2020 and 4.9% from 2018-2019. Therefore, the growing consumption of processed food will drive the food robotics market going forward.
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The food robotics market covered in this report is segmented -
1) By Type: Articulated, Cartesian, Scara, Parallel, Cylindrical, Collaborative, Other Types
2) By Payload: Low, Medium, High
3) By Application: Palletizing, Packaging, Repackaging, Pick And Place, Processing, Other Applications
4) By End User: Beverages, Meat, Poultry, Seafood, Dairy, Bakery, Fruits and Vegetables, Confectionery, Other End Users
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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