Press release
Kitchen Robotics and Automation Market Report 2024: Revolutionizing Food Preparation and Efficiency
Kitchen Robotics and Automation Market Report
The new report published by The Business Research Company, titled Kitchen Robotics And Automation Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the kitchen robotics and automation market size has grown rapidly in recent years. It will grow from $2.38 billion in 2023 to $2.63 billion in 2024 at a compound annual growth rate (CAGR) of 10.4%. The kitchen robotics and automation market size is expected to see rapid growth in the next few years. It will grow to $3.92 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.
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What Is Driving The Growth Of The Global Kitchen Robotics And Automation Market?
Elevated Kitchen Remodeling Activities Drive Growth In The Household Cooking Appliance Market
Increasing kitchen remodeling activities are expected to propel the growth of the kitchen robotics and automation market going forward. Kitchen remodeling refers to the renovation and enhancement of kitchen spaces, often involving updates to kitchen appliances, cabinets, countertops, and other elements to improve functionality. Increasing kitchen remodeling activities are driven by homeowners seeking modern, functional spaces, and the rising popularity of home improvement shows inspiring renovations. Kitchen robotics and automation in kitchen remodeling enhance efficiency, reduce labor costs, and provide advanced functionality, making modern kitchens more user-friendly and innovative. For instance, in March 2023, according to Houzz, a US-based home remodeling and design platform company, in 2022, kitchen remodels remained the most popular home improvement projects, with 28% of homeowners upgrading these spaces, up from 27% in 2021. Additionally, about 36% of recent homebuyers undertook kitchen renovation projects. The median expense for both large and small kitchen renovations increased by $3,000, rising from $12,000 in 2020 to $15,000 in 2021. Therefore, increasing kitchen remodeling activities drive the kitchen robotics and automation market.
What Is The Key Trend In The Global Kitchen Robotics And Automation Market?
Advancements In Robotic Kitchen Solutions Transforming The Food Service Industry
Major companies operating in the kitchen robotics and automation market are focusing on developing advanced solutions, such as robotic kitchen solutions, to enhance operational efficiency, reduce labor costs, maintain consistent food quality, and improve workplace safety in the food service industry. Robotic kitchen solutions automate various culinary tasks, streamline food preparation, ensure consistent cooking quality, and enhance operational efficiency in kitchens. For instance, in October 2023, KFoodtech Inc., a South Korea-based food technology company, launched BotBob, an advanced robotic kitchen solution designed to address critical challenges in the restaurant industry, such as labor shortages, rising operational costs, and maintaining consistent food quality. BotBob offers a comprehensive solution encompassing food preparation, serving, delivery, and payment processing, all while enhancing workplace safety by isolating hazardous cooking processes. Capable of cooking up to six servings of traditional Korean stew in just three minutes and thirty seconds, BotBob aims to improve efficiency, reduce wait times, and create a safer, more comfortable environment for restaurant staff.
How Is The Global Kitchen Robotics And Automation Market Segmented?
The kitchen robotics and automation market covered in this report is segmented -
1) By Product Type: Collaborative, Cylindrical, Articulated, Other Product Types
2) By Automation Level: Semiautomatic, Fully Automatic
3) By End-User: Commercial, Residential
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How Is The Competitive Landscape Of The Global Kitchen Robotics And Automation Market?
Major companies operating in the kitchen robotics and automation market are ABB Ltd., Kawasaki Heavy Industries Ltd, Yaskawa Electric Corporation, KUKA Robotics Corporation, Stäubli International AG., Mitsubishi Electric Automation Inc., Yaskawa Motoman Robotics, Universal Robots A/S, Tovala Inc., Brava Home Inc., Picnic Works Inc, Teforia Inc., Applied Robotics Inc., Bartesian Inc., Instant Brands Inc., Karakuri Ltd., PicoBrew Inc., Drop Kitchen Inc., Chowbotics Ltd, Suvie Inc., Moley Robotics Ltd, Hestan Cue Inc.
Contents Of The Global Kitchen Robotics And Automation Market
1. Executive Summary
2. Kitchen Robotics And Automation Market Report Structure
3. Kitchen Robotics And Automation Market Trends And Strategies
4. Kitchen Robotics And Automation Market - Macro Economic Scenario
5. Kitchen Robotics And Automation Market Size And Growth
…..
27. Kitchen Robotics And Automation Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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