Food Robotics Market: Current Analysis and Forecast (2021-2027)
Global Food Robotics Market was valued at US$ 2.1 Billion in 2020 and is anticipated to reach US$ 4.9 Billion by 2027 displaying an elevated CAGR of 13% over the forecast period (2021-2027).
The demand for food robotics is witnessing an uptick on account of the decreasing labor productivity, labor working hours, and the total output as well. Deployment of robotics helps in increasing output, timesaving, smooth, and efficient operations as well. As per the U.S. Bureau of Labor Statistics, food manufacturing employee around 1.6 million workers. Furthermore, with surging mishappening during food processing and other operations, there is a greater demand for food robots. In 2018, the incident rate for food manufacturing workers in the U.S. was 4.2%. In which Burns, cuts, and slips are among the most common types of injuries in food processing plants.
As per the United States Department of Agriculture (USDA), food and beverage manufacturing plants accounted for 15.8% of the value of shipments and 14.7 percent of all employees from all U.S. manufacturing plants in 2019. Growing demand for processed and packaged food in the region acting as a growth catalyst to the industry. 80% of Americans’ total calorie consumption comes from store-bought foods and beverages (packaged and unpackaged). Moreover, the rise in work-related fatalities in the region is also proliferating the growth of the demand. As per the U.S Bureau of Labor Statistics, the number of fatalities increased from 40 in 2016 to 49 in 2019.
ABB Group, Kawasaki Heavy Industries Ltd., Rockwell Automation Incorporated, Mitsubishi Electric Corporation, Fanuc Corporation, Yaskawa Electric Corporation, Kuka AG, Seiko Epson Corporation, Staubli International AG, and Universal Robotics A/S. etc, are some of the prominent players operating in the Food Robotics market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products.
Insights Presented in the Report
“Amongst Type, Articulated segment holds the major share”
Based on the Type, the market is fragmented into Articulated, Cartesian, SCARA, Parallel, Cylindrical, Collaborative and Other. The articulated segment of the Global Food Robotics market grabbed the major market share and dominated the market. The segment captured around XX% market share and generated USD XX Mn in 2020 and is expected to grow at a CAGR of XX% during the forthcoming years
“Amongst Payload, Medium Payload segment to dominate the market during the forecast period”
Based on the payload, the market is mainly fragmented into Low, Medium, and High. The medium payload segment grabbed major market share and captured XX% market revenue in 2020. However, the low payload segment would emerge in the forecast period and would witness the highest CAGR during the forthcoming period
“Amongst Function Type, Palletizing segment grabbed Major Market share in 2020”
Based on function type, the market is fragmented into Palletizing, Packaging, Repackaging, Pick & Place, Processing and Others. The Palletizing segment grabbed major market share and captured XX% market revenue in 2020. However, the packaging segment would emerge in the forecast period and would witness the highest CAGR during the forthcoming period as well and would reach USD XX Mn by 2027
Amongst Application, Meat, poultry, & seafood segment grabbed Major Market share in 2020”
Based on Application, the market is segmented into Meat, poultry, & seafood, Processed food, Dairy products, Fruits & vegetables, Beverage, Bakery & confectionery products, and other applications (Convenience food & infant food). The Meat, Poultry, and Seafood segment grabbed XX% market share and gathered USD XX Mn in 2027. Moreover, this segment is expected to reach USD XX Mn by 2027 with a growth of XX% CAGR during 2021-2027
“North America represents one of the largest markets of Food Robotics market”
For a better understanding of the market dynamics of the Food Robotics market, a detailed analysis was conducted for different regions across the globe including North America, Europe, Asia Pacific, and the Rest of the world. North America dominated the market and generated revenue of US$ XX Million in 2020 owing to the change in lifestyle and growing demand for processed and packaged food.
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