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The artificial intelligence (AI) market in the food and beverage industry market share is expected to increase by USD 5.66 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 21.93%.
This artificial intelligence (AI) market in food and beverage industry market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the artificial intelligence (AI) market in food and beverage industry market segmentation by application (transportation and logistics, production planning, quality control, and others) and geography (North America, Europe, APAC, South America, and Middle East and Africa). The artificial intelligence (ai) market in food and beverage industry market report also offers information on several market vendors, including ABB Ltd., Aboard Software, AGCO Corp., Ailytic Holdings Pty Ltd., Analytical Flavor Systems Inc., Buhler AG, Compac Sorting Equipment, Duravant LLC, Foodable Network LLC, Honeywell International Inc., Martec Of Whitwell Ltd., Ravenwood Packaging Ltd., Raytec Vision S.p.A., Rockwell Automation Inc., Sesotec GmbH, Siemens AG, Sight Machine, and The Not Co. Inc. among others.
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Based on our research output, there has been a positive impact on the market growth during and after the post-COVID-19 era. The rising demand for automation to improve productivity is notably driving the artificial intelligence (AI) market in the food and beverage industry market growth, although factors such as lack of skilled personnel may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the artificial intelligence (AI) market in food and beverage industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Artificial Intelligence (AI) Market In Food And Beverage Industry Market Driver
The rising demand for automation to improve productivity is one of the key drivers supporting the artificial intelligence (AI) market growth in the food and beverage industry. AI and machine learning (ML) systems assess the number of mathematical models of production and outcome possibilities to increase accuracy in demand planning. Moreover, AI systems are capable of monitoring product quantities, production cycle time, and others to optimize production efficiency across business functions. Furthermore, predictive maintenance uses sensors to track the equipment's condition. It analyzes the data related to the service of the equipment on a need basis instead of the actual scheduled service time. This minimizes machine downtime and reduces machine inspection costs. Also, manufacturers are combining analytics with ML to record and track everything from quotation to supply chain operations to reduce transport and warehousing costs and identify supply chain forecasting errors. This, in turn, will drive artificial intelligence (AI) in the food and beverage (F&B) market growth during the forecast period.
Key Artificial Intelligence (AI) Market In Food And Beverage Industry Market Trend
The emergence of IIoT is one of the key artificial intelligence (AI) market trends in the food and beverage industry contributing to market growth. The high demand and use of smart devices, wireless, and cloud technology will influence the future of industrial robots, such as collaborative robots, in terms of the range of utility and mode of operation. Moreover, the rising competition has influenced vendors to offer attractive options, such as services and control modules, through smart devices and Wi-Fi technology for controlling equipment from remote locations. These devices offer flexibility in use and have a user-friendly graphical user interface (GUI). Furthermore, sensor information can guide equipment to perform production and assembly processes and handle toxic chemicals. Therefore, the integration of IIoT is expected to transform food and beverage manufacturing facilities into more connected and synchronized units. This will have a positive impact on the growth of the global artificial intelligence (AI) in the food and beverage (F&B) market during the forecast period.
Key Artificial Intelligence (AI) Market In Food And Beverage Industry Market Challenge
The lack of skilled personnel is one of the challenges hampering the artificial intelligence (AI) market growth in the food and beverage industry. Manufacturers implementing AI need to have knowledge about the working of AI software platforms along with periodic servicing necessities to ensure smooth operations. The lack of technical knowledge about the platform often deters end-users from adopting AI. Moreover, the lack of skilled operators and proper training has resulted in a certain disinclination to execute wide-scale automation, as substantial time, training, and budget has to be allocated for the successful implementation of AI. Furthermore, the use of AI for analytics is challenging, as additional domain knowledge about analytic techniques is a major requirement for the implementation of AI in the food and beverage industry. Therefore, the lack of skilled personnel is expected to hamper the growth of the global artificial intelligence in the food and beverage market during the forecast period.
This artificial intelligence (AI) market in food and beverage industry market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global artificial intelligence (AI) market in the food and beverage industry as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the artificial intelligence (AI) market in food and beverage industry market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the artificial intelligence (AI) market in food and beverage industry market encompasses successful business strategies deployed by the key vendors. The artificial intelligence (AI) market in food and beverage industry market is fragmented and the vendors are deploying growth strategies such as quality, price, service, brand /image, distribution, and marketing to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The artificial intelligence (AI) market in food and beverage industry market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the artificial intelligence (AI) market in food and beverage industry market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the global application software market includes the following core components:
The report has further elucidated other innovative approaches being followed by service providers to ensure a sustainable market presence.
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43% of the market’s growth will originate from North America during the forecast period. The US is the key market for the artificial intelligence (AI) market in food and beverage industry market in North America. Market growth in this region will be faster than the growth of the market in other areas.
The increase in the adoption of advanced technologies with greater computing power to improve decision-making in food and beverage will facilitate the artificial intelligence (AI) market in the food and beverage industry market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 negatively impacted the food and beverage industry globally in 2020. However, in 2021, the lifting of restrictions on exports and imports, the large-scale COVID-19 vaccination drives, and economic recovery is anticipated to promote the sales of food and beverage products, which will fuel the growth of the AI in the F&B market in focus during the forecast period.
To gain further insights on the market contribution of various segments Request a PDF Sample
The artificial intelligence (AI) market share growth in the food and beverage industry by the transportation and logistics segment will be significant during the forecast period. The logistics and transportation segment of the global AI market in the food and beverage industry will grow due to the revenue contribution from manufacturers employing advanced technologies in their manufacturing plants. Manufacturers in the food and beverage industry are experiencing a paradigm change with the emergence of digitization as well as new market entrants and business models. These factors will drive the segment growth during the forecast period and thereby drive the artificial intelligence (AI) in the food and beverage (F&B) market growth.
This report provides an accurate prediction of the contribution of all the segments to the growth of the artificial intelligence (AI) market in food and beverage industry market size and actionable market insights on post COVID-19 impact on each segment.
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Artificial Intelligence (AI) Market In Food And Beverage Industry Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 21.93% |
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Market growth 2022-2026 |
USD 5.66 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
21.11 |
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Regional analysis |
North America, Europe, APAC, South America, Middle East, and Africa |
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Performing market contribution |
North America at 43% |
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Key consumer countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
ABB Ltd., Aboard Software, AGCO Corp., Ailytic Holdings Pty Ltd., Analytical Flavor Systems Inc., Buhler AG, Compac Sorting Equipment, Duravant LLC, Foodable Network LLC, Honeywell International Inc., Martec Of Whitwell Ltd., Ravenwood Packaging Ltd., Raytec Vision S.p.A., Rockwell Automation Inc., Sesotec GmbH, Siemens AG, Sight Machine, and The Not Co. Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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***1. Executive Summary
**1.1 Market Overview
*Exhibit 01: Executive Summary – Chart on Market Overview
*Exhibit 02: Executive Summary – Data Table on Market Overview
*Exhibit 03: Executive Summary – Chart on Global Market Characteristics
*Exhibit 04: Executive Summary – Chart on Market by Geography
*Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
*Exhibit 06: Executive Summary – Chart on Incremental Growth
*Exhibit 07: Executive Summary – Data Table on Incremental Growth
*Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
***2. Market Landscape
**2.1 Market ecosystem
*Exhibit 09: Parent market
*Exhibit 10: Market characteristics
***3. Market Sizing
**3.1 Market definition
*Exhibit 11: Offerings of vendors included in the market definition
**3.2 Market segment analysis
*Exhibit 12: Market segments
**3.3 Market size 2021
**3.4 Market outlook: Forecast for 2021 - 2026
*Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
*Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
*Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
*Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
***4. Five Forces Analysis
**4.1 Five Forces Summary
*Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
**4.2 Bargaining power of buyers
*Exhibit 18: Bargaining power of buyers – Impact of key factors in 2021 and 2026
**4.3 Bargaining power of suppliers
*Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
**4.4 Threat of new entrants
*Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
**4.5 Threat of substitutes
*Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
**4.6 Threat of rivalry
*Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
**4.7 Market condition
*Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
***5 Market Segmentation by Application
**5.1 Market segments
*Exhibit 24: Chart on Application - Market share 2021-2026 (%)
*Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
**5.2 Comparison by Application
*Exhibit 26: Chart on Comparison by Application
*Exhibit 27: Data Table on Comparison by Application
**5.3 Transportation and logistics - Market size and forecast 2021-2026
*Exhibit 28: Chart on Transportation and logistics - Market size and forecast 2021-2026 ($ million)
*Exhibit 29: Data Table on Transportation and logistics - Market size and forecast 2021-2026 ($ million)
*Exhibit 30: Chart on Transportation and logistics - Year-over-year growth 2021-2026 (%)
*Exhibit 31: Data Table on Transportation and logistics - Year-over-year growth 2021-2026 (%)
**5.4 Production planning - Market size and forecast 2021-2026
*Exhibit 32: Chart on Production planning - Market size and forecast 2021-2026 ($ million)
*Exhibit 33: Data Table on Production planning - Market size and forecast 2021-2026 ($ million)
*Exhibit 34: Chart on Production planning - Year-over-year growth 2021-2026 (%)
*Exhibit 35: Data Table on Production planning - Year-over-year growth 2021-2026 (%)
**5.5 Quality control - Market size and forecast 2021-2026
*Exhibit 36: Chart on Quality control - Market size and forecast 2021-2026 ($ million)
*Exhibit 37: Data Table on Quality control - Market size and forecast 2021-2026 ($ million)
*Exhibit 38: Chart on Quality control - Year-over-year growth 2021-2026 (%)
*Exhibit 39: Data Table on Quality control - Year-over-year growth 2021-2026 (%)
**5.6 Others - Market size and forecast 2021-2026
*Exhibit 40: Chart on Others - Market size and forecast 2021-2026 ($ million)
*Exhibit 41: Data Table on Others - Market size and forecast 2021-2026 ($ million)
*Exhibit 42: Chart on Others - Year-over-year growth 2021-2026 (%)
*Exhibit 43: Data Table on Others - Year-over-year growth 2021-2026 (%)
**5.7 Market opportunity by Application
*Exhibit 44: Market opportunity by Application ($ million)
***6. Customer landscape
**6.1 Customer landscape overview
*Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
*Exhibit 45: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
***7. Geographic Landscape
**7.1 Geographic segmentation
*Exhibit 46: Chart on Market share by geography 2021-2026 (%)
*Exhibit 47: Data Table on Market share by geography 2021-2026 (%)
**7.2 Geographic comparison
*Exhibit 48: Chart on Geographic comparison
*Exhibit 49: Data Table on Geographic comparison
**7.3 North America - Market size and forecast 2021-2026
*Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
*Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
*Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
*Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
**7.4 Europe - Market size and forecast 2021-2026
*Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
*Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
*Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
*Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
**7.5 APAC - Market size and forecast 2021-2026
*Exhibit 58: Chart on APAC - Market size and forecast 2021-2026 ($ million)
*Exhibit 59: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
*Exhibit 60: Chart on APAC - Year-over-year growth 2021-2026 (%)
*Exhibit 61: Data Table on APAC - Year-over-year growth 2021-2026 (%)
**7.6 South America - Market size and forecast 2021-2026
*Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
*Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
*Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
*Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
**7.7 Middle East and Africa - Market size and forecast 2021-2026
*Exhibit 66: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
*Exhibit 67: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
*Exhibit 68: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
*Exhibit 69: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
**7.8 US - Market size and forecast 2021-2026
*Exhibit 70: Chart on US - Market size and forecast 2021-2026 ($ million)
*Exhibit 71: Data Table on US - Market size and forecast 2021-2026 ($ million)
*Exhibit 72: Chart on US - Year-over-year growth 2021-2026 (%)
*Exhibit 73: Data Table on US - Year-over-year growth 2021-2026 (%)
**7.9 China - Market size and forecast 2021-2026
*Exhibit 74: Chart on China - Market size and forecast 2021-2026 ($ million)
*Exhibit 75: Data Table on China - Market size and forecast 2021-2026 ($ million)
*Exhibit 76: Chart on China - Year-over-year growth 2021-2026 (%)
*Exhibit 77: Data Table on China - Year-over-year growth 2021-2026 (%)
**7.10 UK - Market size and forecast 2021-2026
*Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
*Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
*Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
*Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
**7.11 Germany - Market size and forecast 2021-2026
*Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ million)
*Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
*Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
*Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)
**7.12 Market opportunity by geography
*Exhibit 86: Market opportunity by geography ($ million)
***8. Drivers, Challenges, and Trends
**8.1 Market drivers
*8.1.1 Rising demand for automation to improve productivity
*8.1.2 Regulations to improve food safety
*8.1.3 Evolving industrial IoT and big data integration
**8.2 Market challenges
*8.2.1 Lack of skilled personnel
*8.2.2 Limited automation in the food and beverage industry in developing countries
*8.2.3 Security issues
**8.3 Impact of drivers and challenges
*Exhibit 87: Impact of drivers and challenges in 2021 and 2026
**8.4 Market trends
*8.4.1 Emergence of IIoT
*8.4.2 Technology innovations in the market
*8.4.3 Advances in AI technology
***9. Vendor Landscape
**9.1 Overview
**9.2 Vendor landscape
*Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
*The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
**9.3 Landscape disruption
*Exhibit 89: Overview on factors of disruption
**9.4 Industry risks
*Exhibit 90: Impact of key risks on business
***10. Vendor Analysis
**10.1 Vendors covered
*Exhibit 91: Vendors covered
**10.2 Market positioning of vendors
*Exhibit 92: Matrix on vendor position and classification
*10.3 ABB Ltd.
*Exhibit 93: ABB Ltd. - Overview
*Exhibit 94: ABB Ltd. - Business segments
*Exhibit 95: ABB Ltd. - Key news
*Exhibit 96: ABB Ltd. - Key offerings
*Exhibit 97: ABB Ltd. - Segment focus
**10.4 Aboard Software
*Exhibit 98: Aboard Software - Overview
*Exhibit 99: Aboard Software - Product / Service
*Exhibit 100: Aboard Software - Key offerings
**10.5 Ailytic Holdings Pty Ltd.
*Exhibit 101: Ailytic Holdings Pty Ltd. - Overview
*Exhibit 102: Ailytic Holdings Pty Ltd. - Product / Service
*Exhibit 103: Ailytic Holdings Pty Ltd. - Key offerings
**10.6 Analytical Flavor Systems Inc.
*Exhibit 104: Analytical Flavor Systems Inc. - Overview
*Exhibit 105: Analytical Flavor Systems Inc. - Product / Service
*Exhibit 106: Analytical Flavor Systems Inc. - Key offerings
**10.7 Duravant LLC
*Exhibit 107: Duravant LLC - Overview
*Exhibit 108: Duravant LLC - Product / Service
*Exhibit 109: Duravant LLC - Key offerings
**10.8 Honeywell International Inc.
*Exhibit 110: Honeywell International Inc. - Overview
*Exhibit 111: Honeywell International Inc. - Business segments
*Exhibit 112: Honeywell International Inc. - Key news
*Exhibit 113: Honeywell International Inc. - Key offerings
*Exhibit 114: Honeywell International Inc. - Segment focus
**10.9 Martec Of Whitwell Ltd.
*Exhibit 115: Martec Of Whitwell Ltd. - Overview
*Exhibit 116: Martec Of Whitwell Ltd. - Product / Service
*Exhibit 117: Martec Of Whitwell Ltd. - Key offerings
**10.10 Raytec Vision S.p.A.
*Exhibit 118: Raytec Vision S.p.A. - Overview
*Exhibit 119: Raytec Vision S.p.A. - Product / Service
*Exhibit 120: Raytec Vision S.p.A. - Key offerings
**10.11 Rockwell Automation Inc.
*Exhibit 121: Rockwell Automation Inc. - Overview
*Exhibit 122: Rockwell Automation Inc. - Business segments
*Exhibit 123: Rockwell Automation Inc. - Key news
*Exhibit 124: Rockwell Automation Inc. - Key offerings
*Exhibit 125: Rockwell Automation Inc. - Segment focus
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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