Global AI In Food & Beverages Market Overview:
Artificial Intelligence (AI) in food and beverages industry can used to reduce human errors and have positive effect on front and back end process of food and beverages. The AI including automated process would carry more quality to the product. Artificial intelligence can be used in the process of food sorting, consumer engagement, managing supply chain, developing new products and quality control. Some of the key players profiled in the study are TOMRA Sorting Solutions AS. (Norway), GREEFA. (Netherlands), Sesotec GmbH. (Germany), Rockwell Automation Inc. (United States), ABB Ltd. (Switzerland), Honeywell International Inc. (United States), Aboard Software (United States), Analytical Flavor Systems (United States), Deepnify (Canada) and ImpactVision (United States).
On the basis of geography, the market of AI In Food & Beverages 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, Norway, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by End User, the sub-segment i.e. Hotels & Restaurants will boost the AI In Food & Beverages market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rising Demand Due To Innovative Packaging
- Increasing Demand Due To Fast Delivery, Easily Accessible
- Regulations to Improve Food Safety
- Introduction of IOT Integrates Smart Machines, Warehouses, Robots
- Rising Dependency Due To Innovative Production
- Adoption of Machine Learning
- Less Availability of Skilled Workers
- Rising Opportunity in AI Application for Improvement of Product Design, Quality Control and Maintenance
- Limited Automation in the F&B Industry in Developing Countries
Major Market Developments:
On 11th January 2018, – Tomra Sorting Recycling has signed a contract with SKM Recycling (SKM) to provide automated sorting technology. Tomra is projected to provide 40 Autosort units featuring proprietary 3D laser technology for SKM's three new sorting facilities in Australia to reduce wastage.
Food & Drug Administration's Food Safety Modernization Act (FSMA) introduced regulations in September 2016, which necessitate large food manufacturers to meet preventive controls and Current Good Manufacturing Practice (CGMPS) requirements.
AI in F&B Service Providers, Industry Associations and Experts, Research Organizations and Consulting Companies., Research Institutes, Government Regulatory Bodies, Government and Private Research Organization and Others
Major Objectives Focused through this Study
To define, describe, and forecast the Global AI In Food & Beverages market on the basis of product [Hardware, Software and Services] , application [Food Sorting, Consumer Engagement and Quality Control], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the AI In Food & Beverages market with respect to major geographies, namely, 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, Norway, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the AI In Food & Beverages industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Key Technology Inc. (United States), Raytec Vision SpA. (Italy), Martec of Whitell Ktd. (United Kingdom) and NotCo (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the AI In Food & Beverages market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Dow Jones (Factiva), along with primary respondents. The complete methodology includes the study of the annual and financial reports of the key market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) related to the market.