Global Food Robotics To Hit US$2.5 Billion

  • Tuesday, 16 May 2017 00:00
  • Published in Business News
  • Read 840 times

The global food robotics market is projected to grow at a CAGR of 12.8 percent from 2017 to 2022, according to Research and Markets. 

The global food robotics market is estimated at US$1.37 billion in 2017, forecast to reach US$2.5 billion by 2022, growing at a CAGR of 12.8 percent during the forecast period.

The main drivers of the market are increasing food safety regulations, higher demand for packaged foods, and productivity increase.

One of the major restraining factors includes scarcity of skilled workforce in emerging economies. The rising production of low-cost robots and increasing functionality of robots are expanding the growth of the food robotics market.

The collaborative robot segment is expected to have the highest CAGR during the forecast period. A collaborative robot is a robot designed to assist human beings in a specific task, whereas a regular robot is designed to be programmed to work on its own.

The collaborative robot design allows humans to perform certain operations successfully and to steer them on the correct path if they deviate or exceed the scope of the task. A collaborative robot expands the functioning of robots beyond providing repetitive motion, and includes learning and thinking abilities.

The low payload—which is the actual data in a data packet without headers or metadata—segment is predicted to have the highest CAGR during the forecast period. This segment is experiencing a high growth due to the increased usage of robot arms for applications such as picking and packaging.

The major factors driving the Asia Pacific food robotics market is increasing disposable incomes and urbanisation, which has led to the rising popularity of packaged food consumption.

The Asia Pacific market is projected to have the highest CAGR during the forecast period. The demand for food robotics is growing in the region as consumer demand for ready-to-eat food products has increased rapidly in the last decade.

  • Last modified on Monday, 15 May 2017 17:35
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Asia Pacific Food Industry (APFI) is Asia’s leading trade magazine for the food and beverage industry. Established in 1985, APFI is the first BPA-audited magazine and the publication of choice for professionals throughout the industry with its editorial coverage on the latest research, innovative technologies, health and nutrition trends, and market reports.

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