Artificial Intelligence In Food & Beverages Market Size, Share, Trends, Growth and Forecast 2026

Artificial Intelligence In Food & Beverages Market

Artificial Intelligence In Food & Beverages Market – By Application (Food Sorting, Quality Control, and Customer Engagement), By End-User (Hotels & Restaurants and Food Processing Units), and By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Category: Technology & Media Report Format : PDF Pages: 140 Report Code: ZMR-6336 Published Date: May-2021 Status : Published
Market Size in 2019 Market Forecast in 2026 CAGR (in %) Base Year
USD 2.97 Billion USD 28.87 Billion 44.75% 2020

Artificial Intelligence In Food & Bever Market

Artificial Intelligence In Food & Beverages Market Size

The global Artificial Intelligence In Food & Beverages Market, which was estimated at about 2.97 (USD Billion) in 2019 and is predicted to accrue earnings worth 28.87(USD Billion) by 2026, is set to record a CAGR of nearly over 44.75% during 2020-2026.

The report offers a valuation and analysis of Artificial Intelligence In the Food & Beverages market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, limitations, sales estimates, avenues, current & emerging trends, and industry-validated market data. The report offers historical data from 2016 to 2019 along with a forecast from 2020 to 2026 based on value (USD Billion).

Artificial Intelligence in Food and Beverages Market: Synopsis

Artificial Intelligence is one of the most popular disruptive techniques that food & beverage firms use for elevating to digital maturity. AI helps in effective decision-making for the firms as well as assisting them in accomplishing their business objectives. Through the use of AI tools, firms in the food & beverages industry can accrue the benefit from the automation of processes, augmented decision-making methods, and AI-driven product & service innovations. AI helps in minimizing manual work and wastage of food along with improving the safety of food & beverages.

Artificial Intelligence in Food and Beverages Market: Growth Dynamics

The massive use of AI’s deep learning tool in the food sector along with a huge focus on a vision for the circular economy can bring a paradigm shift in food production, thereby driving the use of artificial intelligence in the food and beverages industry in the upcoming years.

In addition to this, AI can assist farmers in preventing food wastage while helping them avoid waste of edible food. Furthermore, AI algorithms can help restaurants in forecasting food sales, thereby preventing the wastage of food. All these aforementioned factors will drive artificial intelligence in food & beverage market trends.

Furthermore, firms are making use of artificial intelligence algorithms for producing plant-based diets as substitutes for meat, fish, and egg-based food products. Shifting consumer food value equations will have far-reaching consequences on the food & beverages industry and will prompt the use of AI tools in the food & beverages industry, thereby steering the market growth over the upcoming years. The need for improving food supply chain processes will boost the market demand in the ensuing years.

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Regional Landscape

North America To Make Notable Contributions Towards Overall Market Size By 2026

The application of artificial intelligence in the flourishing food & beverages business in North American content is likely to increase in the near future. The growth of artificial intelligence in the food & beverages market in North America is likely to register lucrative growth over 2020-2026 due to the use of AI in food processing activities in the U.S. and Canada.

Apparently, AI is also projected to help farmers achieve better crop yield resulting in a bulge in food production, thereby driving the regional market trends. The use of AI in food production in the countries like the U.S. will help the country in reducing food imports & will add to food exports, thereby contributing substantially to the country’s GDP or economy. This, in turn, will further exponentiate the growth of artificial intelligence in the food & beverages market in the North American sub-continent over the upcoming years.

Report Scope :

Report Attributes Report Details
Report Name AI in Food & Beverages Market Size Report
Market Size in 2019 USD 2.97 Billion
Market Forecast in 2026 USD 28.87 Billion
Growth Rate CAGR of 44.75%
Number of Pages 188
Forecast Units Value (USD Billion), and Volume (Units)
Key Companies Covered ABB Ltd., Rockwell Automation, Inc., Honeywell International Inc., TOMRA Sorting Solutions AS, and Raytec Vision SpA.
Segments Covered By End-User, By Application, and By Region
Base Year 2020
Historical Year 2015 to 2018
Forecast Year 2019 - 2026
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Competitive Landscape

  • ABB Ltd.
  • Rockwell Automation
  • Honeywell International Inc.
  • TOMRA Sorting Solutions AS
  • Raytec Vision SpA.

The global Artificial Intelligence In Food & Beverages Market is segmented as follows:

By End-User:

  • Hotels & Restaurants
  • Food Processing Units

By Application:

  • Food Sorting
  • Quality Control
  • Customer Engagement

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
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

With massive use of AI’s deep learning tool in food sector along with huge focus on vision for circular economy can bring a paradigm shift in food production, thereby driving the use of artificial intelligence in food and beverages industry in the upcoming years. In addition to this, AI can assist farmers in preventing food wastage while helping them avoid waste of edible food. Furthermore, AI algorithms can help restaurants in forecasting food sales, thereby preventing wastage of food. All these aforementioned factors will drive artificial intelligence in food & beverage market trends.

Furthermore, firms are making use of artificial intelligence algorithms for producing plant-based diet as the substitute for meat, fish, and egg-based food products. Shifting consumer food value equations will have far-reaching consequences on food & beverages industry and will prompt the use of AI tools in food & beverages industry, thereby steering the market growth over the upcoming years. Need for improving food supply chain processes will boost the market demand in the ensuing years.

According to Zion Market Research report, the global Artificial Intelligence In Food & Beverages market, which was estimated at about 2.97 (USD Billion) in 2019 and is predicted to accrue earnings worth 28.87(USD Billion) by 2026, is set to record a CAGR of nearly over 44.75% during 2020-2026.    

North America is likely to make noteworthy contributions towards overall market revenue. The growth of the industry in the sub-continent over the estimated timespan is attributed to use of Ai in food processing activities in the U.S. and Canada. Apparently, AI is also projected to help farmers achieve better crop yield resulting in bulge in food production, thereby driving the regional market trends. The use of AI in food production in the countries like the U.S. will help the country in reducing the food imports & will add to food exports, thereby contributing substantially towards the country’s GDP or economy. This, in turn, will further exponentiate the growth of artificial intelligence in food & beverages market in North American sub-continent over the upcoming years.

The key players profiled in the report include are ABB Ltd., Rockwell Automation, Inc., Honeywell International Inc., TOMRA Sorting Solutions AS, and Raytec Vision SpA.

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