Global Artificial Intelligence (AI) in Food & Beverages Market Share Will Reach USD 83.40 Billion By 2029
The global Artificial Intelligence (AI) in food & beverages market size is expected to reach USD 83.40 billion by 2029, according to a new study by Polaris Market Research. The report Artificial Intelligence (AI) in Food & Beverages Market Share, Size, Trends, Industry Analysis Report, By Application (Food Sorting, Quality Control & Safety Compliance, Consumer Engagement, Production & Packaging, Maintenance, Other); By End-Use (Food Processing Industry, Hotel & Restaurant, Beverage Industry, Others); By Region; Segment Forecast, 2022 – 2029” gives a detailed insight into current market dynamics and provides analysis on future market growth.
In the F&B industry, artificial intelligence assists various major problems and drives the industry growth during the forecast period. AI can help in alleviating a few of the manufacturing industry’s specific problems, such as supporting supreme product quality and preventive analytics requirements. Most beverages businesses want to make high-quality products at the lowest possible cost. Using machine learning can help to sustain greater levels of overall product quality while allowing for faster quality control with a visual inspection.
Further, sensors could improve processes to capture and correlate information relevant to the operation, such as temperature or throughput statistics. The value of an artificial intelligence tool comes from merging real-time sensor data to derive insights and improve operational capabilities. An integrated artificial intelligence or machine-learning tool analyses raw data to detect trends and recommend actions to increase efficiency. This capacity to analyze operational circumstances and draw conclusions is immensely beneficial for companies that operate across numerous manufacturing sites or with varied shifts. Thus, the benefits from the adoption of artificial intelligence in the beverages industry are boosting market growth.
Based on the end-use, the food processing segment garnered the leading share in the market, in 2021. The significant aspects likely to fuel the adoption of these solutions in these processing industries include the rapid change in food & beverages processing industries towards adopting Automation solutions to improve processing units and increase efficiency and hygiene. Furthermore, the increasing demand for more accurate estimates to manage pricing and inventory is another factor driving the increased use of artificial intelligence solutions in these processing businesses. Adopting these technologies in the beverages and consumable processing units allows for faster operations, fewer hours spent on manual sorting, less waste, and higher product quality.
Top Markeet Players
Market players such Honeywell International Inc, ABB ltd., Martec of Whitell Ltd, Key Technology Inc, Raytec Vision SpA, Sesotec GmbH, Sight Machine Inc, Rockwell Automation Inc, TOMRA Sorting Solutions AS, GREEFA, Duravant LLC, are some key players operating in the global market.
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Polaris Market Research has segmented the Artificial Intelligence (AI) in food & beverages market report based on application, end-use, and region:
Artificial Intelligence (AI) in Food & Beverages, Application Outlook (Revenue – USD Billion, 2017 – 2029)
- Food Sorting
- Quality Control and Safety Compliance
- Consumer Engagement
- Production and Packaging, Maintenance
Artificial Intelligence (AI) in Food & Beverages, End-Use Outlook (Revenue – USD Billion, 2017 – 2029)
- Processing Industry
- Hotel and Restaurant
- Beverage Industry