What is AI in Food and Beverage Market Scope?
Artificial intelligence in food and beverages will be defined as solutions that help in improving the supply chain of the food & beverages industry. This solution provides gives another way to fulfill their customers at lower costs. The advent usage of artificial intelligence, in the food & beverages industry, has offered various advantages such as increases efficiency and execution of product delivery; increase food security, and also reduces wastage of food.
The AI in Food and Beverage market study is being classified, by Application (Food Sorting, Quality Control & Safety Compliance, Consumer Engagement (Chatbots, etc.), Production & Packaging, Maintenance and Others) and major geographies with country level break-up. According to AMA, the Global AI in Food and Beverage market is expected to see growth rate of 65.3%
Research Analyst at AMA predicts that Players from United States will contribute to the maximum growth of Global AI in Food and Beverage market throughout the predicted period.
GREEFA (Netherlands), Honeywell International Inc.(United States), Martec of Whitell Ltd. (United Kingdom), Sesotec GmbH (Germany), Key Technology Inc.(United States), Raytec Vision SpA (Italy), Rockwell Automation (United States), ABB Ltd. (Switzerland), Foodable Network, LLC. (United States) and Agco Corporation (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are National Recovery Technologies, Llc (United States), Buhler AG (Switzerland), QualySense AG (Switzerland), Bratney Companies and BoMill AB (Sweden).
Analyst at AMA have segmented the market study of Global AI in Food and Beverage market by Type, Application and Region.
On the basis of geography, the market of AI in Food and Beverage has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement.
Market Influencers and their development strategies
March 2019 - TOMRA Sorting Recycling launched a cloud-based dat platform, TOMRA Insight, which unlocks new opportunities for sorting equipment users. This can transform sorting from an operational process into a management tool for fact-based decision-making at each step of the value and production chain.
August 2018 - Key Technology introduced VERYX digital sorters for fresh-cut leafy greens. VERYX is the world’s only belt-fed sorter that can inspect products entirely in-air with top and bottom sensors, in order to detect and eliminate all foreign materials (FM) and product defects. By combining Key’s expertise in sorting and conveying, these integrated VERYX systems are specifically designed to handle the challenges of sorting leafy greens.
Influencing Market Trend
- The continuous adoption of advanced technology in the food & beverages industry
- The growing concern regarding the improvement of supply chain efficiency
- Changing and growing consumer preference towards affordable, easily accessible, and fast food options has ushered in a transformation in the food and beverage industry
- Prominent market leaders are making optimum usage of advanced technologies, such as machine learning and artificial intelligence
- Lack of technical AI experts will further hamper the growth of the market.
- Lack of initial investment.
Key Target AudienceGovernment Regulatory Bodies, Private Research Organizations, Government Research Organizations and Others
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