Global Food Robotics market, which is slated to accrue nearly 3.60 (USD Billion) by 2026, is set to record the CAGR of nearly 12.6% over the period from 2020 to 2026.
Food Robotics Market
The global Food Robotics market, which is slated to accrue nearly 3.60 (USD Billion) by 2026, is set to record the CAGR of nearly 12.6% over the period from 2020 to 2026. The report offers assessment and analysis of the Food Robotics market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, sales estimates, opportunities, evolving trends, and industry-validated data. The report offers historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).
Technological breakthroughs in myriad sectors have enhanced the probabilities of robotics utilization in these sectors and food industry is no exception to this. Moreover, the use of robots in food sector will bring a paradigm shift in food processing, packaging & palletizing, and food services. Additionally, researchers are focusing on developing new kind of robots or automated machines having ability to provide quick services and make the food product delivery services more efficient.
Market Growth Dynamics
Escalating requirement for maintaining food safety along with need for effective packaging of food items will steer the market trends over the ensuing years. Apparently, high labor charges have forced the food producers to accept the services of automated systems and this will steer the growth of food robotics market in the years ahead. Furthermore, automation enhanced the food processing efficacy and reduces the percentage of error caused due to manual operations. Apart from this, food robots provide reliable as well as high quality services and helps in raising the production efficiency, thereby driving the market growth. Nonetheless, high expenditure pertaining to fixing and fitting and service charges for robotic tools can hinder the rapid pace of growth of food robotics market in the years to come. However, rise in the acceptance of robotics in a spectrum of industrial activities has prompted the demand for food robotics in the recent years. This, in turn, is likely to nullify the negative impact of the hindrances on the market expansion in the foreseeable future.
Moreover, swift technological changes and requirement for increasing operational efficiencies in food manufacturing sector will drive the market trends in the forthcoming years. In addition to this, the robotic systems cater to the food processing requirements including heavy Application handling and this will embellish the business growth in the years to come.
Europe To Make Remarkable Contributions Towards Overall Market Revenue By 2026
The growth of the market in Europe during the forecast timespan is owing to rapid surge in the product manufacturers in the continent. Apart from this, availability of established & strong infrastructure facility in the countries like the UK, Germany, Italy, and France will steer the growth of the market in Europe during the estimated timespan.
Key players influencing the market growth are Fanuc Corporation, Universal Robotics A/S, ABB Group, Rockwell Automation, Kawasaki Heavy Industries Ltd., Staubli International AG, Flexicell Inc., Epson Robotics, Yaskawa Motoman, Bastian Solutions, Mayekawa Manufacturing Company, Kuka AG, and Mitsubishi Electric Corporation.
The global food robotics market is segmented as follows:
By end-use industry
Escalating requirement for maintaining food safety along with need for effective packaging of food items will steer the market trends over the ensuing years.
The CAGR of the industry is expected to be over 12.6% during the forecast timeline.
Europe will contribute lucratively towards the global market revenue over the estimated timeline.
The key market participants include Rockwell Automation, Staubli International AG, Epson Robotics, Yaskawa Motoman, Bastian Solutions, Mayekawa Manufacturing Company, Fanuc Corporation, Kuka AG, Flexicell Inc., Universal Robotics A/S, Kawasaki Heavy Industries Ltd., ABB Group, and Mitsubishi Electric Corporation.