ASIA: +91 96043 17127 | USA: 1 (347) 690-0211 | Translate : 

Global Artificial Intelligence (AI) in Food and Beverages Market Projected to Reach USD 29.45 Billion by 2026

18-Aug-2021 | Facts and Factors

According to a survey released by Facts and Factors, the global Artificial Intelligence (AI) in Food and Beverages market was esteemed at USD 3.07 Billion in 2020 and is predicted to reach USD 29.45 Billion by the end of 2026, rising at a CAGR of nearly 45.70% between 2021 and 2026.

Artificial Intelligence (AI) is the process of developing intelligent robots that act and react similarly to humans. The objective is to teach machines how to think intelligently in the same way humans do. Until recently, the machines did exactly what they were programmed to do. AI, on the other hand, will allow machines to think and behave in the same way that people do. In the food processing industry, artificial intelligence is being utilized to improve a variety of products, streamline operations, and improve the customer experience. Artificial intelligence (AI), today's most significant general-purpose technology, is fast gaining momentum across industries, allowing for great innovation. Machine learning, deep neural networks, robotics, and other artificial intelligence (AI) techniques are being utilized in the Food and Beverage Industry to not only solve issues but also to make processes more efficient.

Request Sample Request Customization Buy Now

Organizations all around the world are trying to enhance the efficiency and effectiveness of exploration and production processes using artificial intelligence (AI) in the food and beverage industry. The operations in this industry are the major forces pushing the usage of AI in food and beverage companies. AI may be used to automate many operations by preserving and executing the insights of experienced individuals. For efficient data analytics implementation, machine learning is utilized to discover patterns in data, and expert insights will help in the creation of the required complex algorithms technology might be used to create apps that help less-experienced employees find specialist components on-site, or even to answer questions in corporate headquarters using common, interoperable voice-based databases. One of the main reasons why AI is being used and evaluated in every area is its capacity to automate traditionally human-operated and time-consuming operations. It will help to offset the negative effects of people continuing to utilize their skills after retirement. After all, if it can automate a particular function, the firm can function without requiring an intellectual grasp of that role. Artificial intelligence's prevalence in the food and beverage industry is a modern invention with a slew of significant participants. As a result, the market for artificial intelligence in food and beverages is competitive globally. Nonetheless, just a few major companies dominate the global industry in terms of market share. The big companies are focusing on growing their reach into previously untapped areas and diversifying their client base to include people from other countries.

The food and beverage industry's artificial intelligence (AI) market is extremely competitive, with several major players. In terms of market share, the sector is now dominated by large corporations. Acquisitions are made to broaden, complement, and improve the company's product and service offerings, as well as to add new clients and certified workers, and to support expanding sales channels.

Top Market Players

Major players operative in the global Artificial Intelligence (AI) in Food and Beverages Market are ABB Ltd., Agco Corporation, BBC technologies, BoMill AB, Bratney Companies, Buhler Holding AG, Compac Sorting Equipment, Duravant LLC, Foodable Network, LLC, GREEFA, Honeywell International, Inc., INTELLIGENTX Brewing Co., Key Technology Inc., Martec Of Whitwell Ltd., Max-Ai, MilltecClarfai, Inc., National Recovery Technologies, Llc, QualySense AG, Rockwell Automation, Inc., Raytec Vision SpA, Sight Machine Inc., Sesotec GmbH, Startup Creator, and TOMRA Systems, amongst others.

Market Dynamics

The increasing concern about improving supply chain efficiency, as well as the ongoing adoption of sophisticated technologies in the food and beverage sector, is a key driver driving market expansion. The growing consumer preference for affordable, easily accessible, and fast food options in the food and beverage industry, the growing need for consumer buying behavior analysis and inventory forecasting to reduce food waste, the growing demand for AI implementation to improve supply chain processes, and the growing demand for automated food sorting are all major factors. The food and beverage industry's increasing acceptance of big data technology to improve exploration and production capabilities, as well as an increase in venture capital investments, the food and beverage industry's growing need for automation, and significant pressure to reduce production costs, will all contribute to AI's growth in the food and beverage market. Over the last several years, AI has gained a lot of traction, with many firms spending heavily in researching the technology's possibilities in the sector. AI is assisting food and beverage firms with supply chain management via logistics, predictive analytics, and transparency. AI in supply chains is assisting firms in their efforts to innovate quickly by decreasing time to market and building an agile supply chain capable of anticipating and coping with risks. This is propelling AI's rise in the food and beverage industry.

North America is projected to Dominate Global Artificial Intelligence (AI) in Food and Beverages Market Growth

In terms of value, North America was the largest market for artificial intelligence (AI) in food and beverages in 2020. The North America region is expected to account for the largest share of AI in the food and beverages market over the forecast period. Along with the growing adoption of artificial intelligence among oilfield employees and service providers, as well as the significant presence of key AI vendors, notably in the United States and Canada. In the Asia Pacific, artificial intelligence in the food and beverage market is anticipated to grow at the fastest rate. The growing usage of deep learning and Neuro-Linguistic Programming (NLP) technology in applications, marketing, and finance is driving the rapid expansion of artificial intelligence in the food and beverage sector in the Asia Pacific. Furthermore, the presence of several of the region's major market companies led to the region's exponential expansion of artificial intelligence in the food and beverage sector.

Browse the full report Artificial Intelligence (AI) in Food and Beverages Market By Organization Size (Small, Medium & Large Enterprises), By Application (Food Sorting, Quality Control, and Safety Compliance, Consumer Engagement, Production and Packaging, Maintenance, and Other Applications), By End-Use Industry (Food Processing, Grocery, Hotels & Beverages Industry, and Others Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2021 – 2026” at https://www.fnfresearch.com/artificial-intelligence-in-food-and-beverages-market.

The Global Artificial Intelligence (AI) in Food and Beverages Market is segmented as follows:

By Organization Size:

  • Small
  • Medium & Large Enterprises

By Application:

  • Food Sorting
  • Quality Control and Safety Compliance
  • Consumer Engagement
  • Production and Packaging
  • Maintenance
  • Other Applications

By End-Use Industry:

  • Food Processing
  • Grocery
  • Hotels & Beverages Industry
  • Others

By Region:

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

About Us:

Facts & Factors is a leading market research organization offering industry expertise and scrupulous consulting services to clients for their business development. The reports and services offered by Facts and Factors are used by prestigious academic institutions, start-ups, and companies globally to measure and understand the changing international and regional business backgrounds. Our client’s/customer’s conviction on our solutions and services has pushed us in delivering always the best. Our advanced research solutions have helped them in appropriate decision-making and guidance for strategies to expand their business.

Contact Us:
Facts & Factors

A 2108, Sargam,
Nanded City,
Sinhagad Road,
Pune 411041, India
USA: +1-347-989-3985
Email: sales@fnfresearch.com

Web: https://www.fnfresearch.com


Latest Market Research Reports

report img

Helicopter Blades Market Report 2021 - 2026

[205+ Pages Report] We at Facts Factors have recently published a report titled Global Helicopter Blades Market that encompasses the spectacle of the market in an analytical and comprehensive manner. In this study, the market i ...

Published Date : 21-Oct-2021 | | Category : Heavy Industry | Pages : 180 | Format : Read more

Inquiry for Buying Request Sample
report img

Blockchain Identity Management Market Report 2021 - 2026

[196+ Pages Report] We at Facts Factors have recently published a report titled Global Blockchain Identity Management Market that encompasses the spectacle of the market in an analytical and comprehensive manner. We at Facts &a ...

Published Date : 21-Oct-2021 | | Category : Technology & Media | Pages : 196 | Format : Read more

Inquiry for Buying Request Sample

Why FnF Market Research?

1 Inflallible Methodology

to ensure high-level data integrity, accurate analysis, and impeccable forecasts

2 Analyst Support

for complete satisfaction

3 Customization

on-demand customization of scope of the report to exactly meet your needs

4 Targeted Market View

Targeted market view to provide pertinent information and save time of readers

5 Agile Approach

A faster and efficient way to cater to the needs with continuous iteration