Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 2.36 Billion | USD 5.43 Billion | 9.7% | 2023 |
According to a report from Zion Market Research, the global Food Robotics Market was valued at USD 2.36 Billion in 2023 and is projected to hit USD 5.43 Billion by 2032, with a compound annual growth rate (CAGR) of 9.7% during the forecast period 2024-2032.
This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the Food Robotics industry over the next decade.
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.
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.
Report Attributes | Report Details |
---|---|
Report Name | Food Robotics Market |
Market Size in 2023 | USD 2.36 Billion |
Market Forecast in 2032 | USD 5.43 Billion |
Growth Rate | CAGR of 9.7% |
Number of Pages | 110 |
Key Companies Covered | 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 |
Segments Covered | By Type, By Payload, By Application, By End-Use Industry And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
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-
The global food robotics market is segmented as follows:
By Type
By Payload
By Application
By end-use industry
By Region
FrequentlyAsked Questions
Escalating requirement for maintaining food safety along with need for effective packaging of food items will steer the market trends over the ensuing years.
compound annual growth rate (CAGR) of 9.7% during the forecast period 2024-2032.
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.
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