Global Artificial Intelligence in Food & Beverages Market, By Application (Food Sorting, Quality Control & Safety Compliance, Production & Packaging, Maintenance and Others), End-Users (Hotels& Restaurants, Food Processing Industry, Beverages Industry, and Others) Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Artificial Intelligence in Food & Beverages Market
Global Artificial Intelligence in Food & Beverages Market is driven by increasing adoption of smart devices in the food & beverage sector which is projecting a rise in estimated value from USD 6,385.64 million in 2018 to an estimated value of 115,397.92million by 2026, registering a CAGR of 43.59% in the forecast period of 2019-2026.
Market Definition: Global Artificial Intelligence in Food & Beverages Market
Artificial intelligence in food and beverages will be defined as solutions that help in improving the supply chain of food & beverages industry. This solution provides gives other way to fulfil their customers in the lower costs. The advent usage of artificial intelligence, in the food & beverages industry has offers various advantages such as increases efficiency and execution of product delivery; increase food security and also reduces wastage of food.
- The growing concern regarding improvement of supply chain efficiency
- The continuously adoption of advanced technology in the food & beverages industry.
- Lack of technical AI experts will further hamper growth of the market.
- Lack of initial investment.
Segmentation: Global Artificial Intelligence in Food & Beverages Market
- By Application
- Food Sorting
- Quality Control & Safety Compliance
- Consumer Engagement (Chatbots, etc.)
- Production & Packaging
- By End-Users
- Hotels & Restaurants
- Food Processing Industry
- Beverages Industry
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Key Developments in the Market:
- In March 2018, Farmstead launched Fresh AI solutions, it is an B2B platform that offers AI predictive analytics business management model for food industry companies across the world. The benefit offered by the FreshAI include supermarkets, cafeterias, food production facilities, restaurants, quick service food chains, and convenience stores seeking to quickly improve their profit margins and achieve waste reduction goals.
- In April 20176, Infosys Limited had launched artificial intelligence platform named as Mana. This new platform offers deep learning knowledge about food and beverages.
Competitive Analysis: Global Artificial Intelligence in Food & Beverages Market
Global artificial intelligence in food & beverages market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of artificial intelligence in food & beverages market for global, Europe, North America, Asia Pacific and South America.
Major Market Competitors/Players: Global Artificial Intelligence in Food & Beverages Market
Few of the major competitors currently working in global artificial intelligence in food & beverages Market are TOMRA System ASA, GREEFA, Honeywell International Inc., Martec of Whitell Ltd. Sesotec GmbH,., Key Technology Inc., Raytec Vision SpA, Rockwell Automation, ABB Ltd., Foodable Network, LLC. Startup Creator, Compac Sorting Equipment, Agco Corporation, National Recovery Technologies, Llc, Max-Ai, Buhler AG |, QualySense AG, Bratney Companies, BoMill AB, Milltec Clarfai, Inc., BBC technologies, INTELLIGENTX Brewing Co.,
Research Methodology: Global Artificial Intelligence in Food & Beverages Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved