Northbrook, IL 60062 -- (SBWire) -- 10/23/2023 --According to a report titled "Food Robotics Market by Type (Articulated, Cartesian, SCARA, Parallel, Collaborative, Cylindrical), Payload (Heavy, Medium, Low), Function (Palletizing, Packaging, Repackaging, Picking, Processing), Application, and Region - Trends & Forecast to 2026" by MarketsandMarkets, the global food robotics market is estimated to have been valued at USD 1.9 billion in 2020. It is projected to reach USD 4.0 billion by 2026, exhibiting a compound annual growth rate (CAGR) of 13.1% during the forecast period.
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The increasing demand for food, driven by a growing global population, and the need for improved productivity in food processing are key factors fueling the rising interest in food robotics. Additionally, the food industry's growing automation is anticipated to offer substantial growth opportunities for the food robotics market.
Key Highlights:
Beverage Application Growth: The report forecasts significant growth in the beverage application segment, particularly in the packaging and repackaging functions. The demand for food robotics in the beverage industry is driven by the need for automation in packaging processes, and the growth of packaged beverages is expected to contribute to the adoption of food robotics systems.
Dominance of the European Region: In 2020, the European region held the largest share in the food robotics market. The European market's leadership is attributed to substantial investments in research and development related to technology, as well as increasing consumer demand for convenient, ready-to-cook, and high-quality food products. The European Robotics Association's initiatives to monitor and support robot technology in the food and beverage manufacturing sector are expected to positively influence the adoption of food robotics.
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The report also provides comprehensive insights into the marketing and development strategies of leading companies in the food robotics market. It includes profiles of prominent companies such as ABB Group (Switzerland), KUKA AG (Germany), Fanuc Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan), Rockwell Automation Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Yasakawa Electric Corporation (Japan), Denso Corporation (Japan), Nachi-Fujikoshi Corporation (Japan), OMRON Corporation (Japan), Universal Robots A/S (Denmark), Staubli International AG (Switzerland), Bastian Solutions LLC (U.S.), Schunk GmbH (Germany), Asic Robotics AG (Switzerland), Mayekawa Mfg. Co. Ltd. (Japan), Apex Automation & Robotics (Australia), Aurotek Corporation (Taiwan), Ellison Technologies Inc. (U.S.), Fuji Robotics (Japan), and Moley Robotics (U.K.).
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Food Robotics Market Report: Trends and Projections 2020-2026
Food Robotics Market by Type (Articulated, Cartesian, SCARA, Parallel, Collaborative, Cylindrical), Payload (Heavy, Medium, Low), Function (Palletizing, Packaging, Repackaging, Picking, Processing), Application and Region - Trends & Forecast to 2026