The global market of AI in Food Beverage projected a CAGR rise of 425 to reach USD 1258 billion by 2026 Changes in consumer demand to favor easy inexpensive and easily accessible food options have resulted in a transformation in the food and beverage industry with market leaders leveraging a ID: 900658
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AI in Food & Beverage Market, By Type, Trend Analysis, Competitive Market Share & Forecast, 2020- 2026
Slide2Global AI in Food & Beverage Market- Industry Trends & Forecast Report 2027
According to
BlueWeave Consulting, The global AI in food & beverages Market expected to reach US$ 12.58 billion in 2026 with a lucrative CAGR of 42.5%. Key factors driving growth are the growing need to reduce the cost of food & beverage, raising the value of big data in food & beverage, increasing adoption of precision medicine and increasing the cost of hardware.Increasing applicability of AI-based medical care technologies and increasing venture capital funding can also be attributed to the surge in demand for this technology. CarePrevist, Inc., for example. Uses AI technology to track changes in behavioral patterns and activity for early prediction of health problems. Increasing number of cross-industry collaborations are expected to improve the adoption of AI by the food & beverage sector which is also responsible for its lucrative rate of growth.
Slide3Growth DriversGrowing Need for Analysis of Consumer Buying Behavior and Prediction of Inventory Levels to Reduce Food WastageWith every passing day, the rising number of customers to be addressed by food and beverage companies is overwhelming and it needs enormous efforts to engage with customers. Using AI-enabled algorithms, Artificial Intelligence uses data derived from past records, so that sales-related outcomes can be predicted for a specified time. AI mainly helps food producers and retailers understand their customers better. The companies will be able to recognize the tastes and preferences of the consumers, which would help them anticipate potential sales trends for their goods. They would also be able to identify with those clients who engage with them repeatedly and predict their buying patterns. This would help them stock up on their inventories.
Slide4RestraintsStringent Regulatory Compliances related to Food and Safety ProcessesFood and beverage manufacturers face the challenge of meeting strict food and safety-related regulatory compliances. In fact, there is a need to monitor the inventory and ensure the quality of food at all times, as these entail significant operational costs. Because of these factors, companies run the risk of huge financial losses.
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Slide5Global AI in Food & Beverage Market: ApplicationOn the basis of its application, the market is segmented into food processing, quality control, customer interaction, production & packaging, maintenance and so on, from which the production and packaging segment is expected to hold the largest market share, due to the increasing demand for a variety of modern and ready-made packaging as demand for food exports is picked up, need to be achieved.
Slide6Global AI in Food & Beverage Market: Regional InsightsOn the basis of regional analysis, the global artificial intelligence in food and beverages market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America is estimated to occupy the highest market share, owing to the general preference and enthusiasm shown by the general population in the region towards adopting AI in food and beverages. Agriculture and its allied industries that include food and beverages have created about 21.6 billion jobs that covers nearly 11% of the employment in the United States of America. The market in Asia Pacific region especially in countries such as China and India is anticipated to grow at a high rate, owing to AI in Food and Beverages Industry being embraced by market players in the region at a faster rate
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Slide7Competitive landscapeArtificial intelligence in Food & Beverage market is fragmented owing to the presence of number of large-sized companies, mid-sized & small-sized companies, and many start-ups that provide artificial intelligence in Food & Beverage industry. However, the companies that hold the majority share of artificial intelligence in Food & Beverage market are
Raytec
Vision SpA, Rockwell Automation Inc., ABB Ltd, Honeywell International Inc., Key Technology Inc., TOMRA Sorting Solutions AS, GREEFA, Sesotec GmbH, Martec of Whitell Ltd, Sight Machine Inc. and Other Prominent Players.
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