The global food robotics market size was US$ 2262.2 million in 2021. The global food robotics market size is forecast to reach US$ 5556.5 million by 2030, growing at a compound annual growth rate (CAGR) of 10.5% during the forecast period from 2022 to 2030.
A food robotics system is a machine designed for performing various complex activities such as picking, packing, and palletizing in the food and beverage industry. There have been numerous technological advances across multiple sectors that have led to the reality of fictional robots. Increasing demand for enhanced productivity increases the deployment of robots to automate processes, resulting in robots being an integral part of various industries.
Factors Influencing Market Growth
Impact Analysis of COVID-19
In the wake of the COVID-19 pandemic, the economy has suffered greatly. Several countries implemented strict lockdowns to contain the infection, which resulted in the shutdown of food processing plants and interruption of food & beverages (F&B) supply chains for a limited amount of time. As a result of the shortage of F&B products and essential items, panic buying by consumers worldwide, interruption of supply chains due to travel restrictions, and lack of labor, there has been a significant impact on the F&B supply chain. The world's leading robot manufacturing companies reported a decrease in revenue generation during the first and second quarters of 2020 because the economy slowed due to lockdowns and quarantine restrictions imposed by governments worldwide and a decline in the demand for automation. It has negatively affected the food robotics market worldwide, resulting in revenue losses in the first two quarters of 2020.
Regional Insights
The Asia Pacific region held the largest share of the global food robotics market in 2021 and is forecast to remain dominant throughout the forecast period. Consumers in emerging economies are increasingly purchasing packaged and processed food, thereby driving the adoption of automation technologies for increasing food production capacity.
Leading Competitors
The leading prominent companies profiled in the global food robotics market are:
Scope of the Report
The global food robotics market segmentation focuses on Type, Payload, Application, and Region.
Segmentation based on Type
Segmentation based on Payload
Segmentation based on Application
Segmentation based on Region