Food Robotics Market is estimated to be 6.0 Billion by 2029 with a CAGR of 12.4% during the forecasted period.
Technological advancements in numerous domains have expanded the appliance possibility of robotics to an astonishing extent. Robotics and their application within the food industry may be a prominent technology which has the power to rework the procedures in food processing and handling, food serving, and palletizing & packing. Currently, the market is seeing the massively developed trend of robotics deployment within the food industry. Initially, robotics within the food industry focused on end-of-line work than the robots surpassed at it, however, there was a requirement for quicker and more active machines that are ready to work with a complicated feature within the assembly line and deliver rapid pick and place processes on food products.
Food Robotics Market accounted for US$ 2.1 billion in 2020 and is estimated to be US$ 6.0 billion by 2029 and is anticipated to register a CAGR of 12.4%.
The report "Global Food Robotics Market, By Type (Articulated, Cartesian, SCARA, Parallel, Cylindrical, Collaborative, and Others), By Payload (Low, Medium, and High), By Application (Palletizing, Packaging, Repackaging, Pick & Place, Processing and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
Key Highlights:
· In April 2018, 6d Bytes (US) launched a fully autonomus robotic station, Blendid for preparing healthy and delicious blends. This helped the company expand its product portfolio for food robotic solutions.
· In November 2019, Mitsubishi (Japan) has extended its MELFA articulated arms and its SCARA robot products to a series of triangular robots, which will help the company to expand its line of robtic solutions.
Analyst View:
In the last few years, there has been a growing need to package food products in order to increase their shelf life and cater to the demand for ready-to-cook and ready-to-eat products. Mass production of packaged food products especially in countries such as the U.S., Japan, France, and Italy has driven the market for food robotics. In most large-scale food manufacturing plants, processes are being automated in order to ensure quality and consistency in the Stock Keeping Units (SKUs). Food robotics is being increasingly implemented in the production of processed, frozen, dried, and chilled packaged food products. The growth in the packaged dairy products and baked goods industries is also driving the food robotics market as these products are manufactured on a large scale across regions.
Increase in the food safety regulations is anticipated to drive the demand for food robotics in the near future. In addition, it is expected that manual labor will be replaced entirely with industrial robots. These robots are advantageous as they can perform multiple tasks at the same time, leading to improved productivity. The changes in the lifestyle of people result in a surge in demand for packaged and ready-to-eat food products, which in turn is anticipated to boost the demand for food robotics during the forecast period. However, scarcity of skilled workforce in emerging economies and high installation cost of robotic system might be hampering the growth of the market.
Key Market Insights from the report:
The global food robotics market accounted for 2.1 billion in 2020 and is estimated to be US$ 6.0 billion by 2029 and is anticipated to register a CAGR of 12.4%. The market report has been segmented on the basis of type, payload, application, and region.
· Depending upon type, the articulated segment is projected to grow at highest CAGR over the forecast period. However, SCARA is anticipated to gain traction in the near future, owing to increase in demand for automation in the food & beverage industry. In 2016, articulated and SCARA collectively accounted for approximately three-fifths share in the global market.
· Depending upon payload, the medium segment is projected to grow at highest CAGR over the forecast period. This was attributed to robots offering high flexibility and better process control to cater to the changing manufacturing needs in this industry.
· Depending upon application, the palletizing segment is projected to grow at highest CAGR over the forecast period. In 2016, palletizing and processing application segments collectively accounted for approximately half of the share in the global food robotics market.
· By region, Asia-Pacific accounted for approximately three-fifths of the total food robotics market share and is expected to continue to be dominant during the forecast period; major growth in China, India, and the other developing countries is expected. Rise in food & beverage sector and increase in demand for packaged food are major drivers of the market in Asia-Pacific. Furthermore, reduction in the operating costs and labor cost is anticipated to boost the demand for robotics in the food industry which will ultimately benefit the food robotics market growth.
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Competitive Landscape:
The prominent player operating in the global food robotics market includes Mitsubishi Electric Corporation, ABB Group, Rockwell Automation Incorporated, Kawasaki Heavy Industries Ltd., Kuka AG, Fanuc Corporation, Yaskawa Electric Corporation, Seiko Epson Corporation, Staubli International AG, and Universal Robotics A/S.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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