The global food robotics market size is anticipated to reach USD 3.35 billion by 2025. It is also expected to register 13.1% CAGR during the forecasted period, 2017 to 2025. The rising preference for processed food prevailing among the millennial population coupled with the need for automation of food processing and manufacturing industry is anticipated to drive the market growth.
The SCARA type segment is projected to register the highest growth in the upcoming years with a CAGR of 15.5% during the forecasted years. While the articulated type of food robotics segment held the largest share across the global market, in 2016 due to its preference for applications like material handling and palletizing.
The application segment of packaging is anticipated to witness the fastest growth from 2017 to 2025 owing to the rising demand for packaged foods. Segments like processing and repackaging are also projected to register substantial growth due to the increasing usage of automated solutions across food processing industries.
The Asia Pacific is projected to witness the highest growth in the upcoming years owing to increasing disposable income among the working population coupled with the rising need for packed and processed food. On the other hand, Europe held the largest share across the global market on account of the surging presence of food industries and rising labor costs and overheads across this region.
The food robotics market includes key players such as ABB Group; Mitsubishi Electric Industries, and Kawasaki Heavy Industries Ltd. They have started investing hugely in R&Ds to cater to a large number of food industries and to widen their product reach. Also, the rising number of new entrants is influencing stiff competition across the global market.
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Further key findings from the report suggest:
• Low and medium payload segment is projected to register significant growth in the upcoming years.
• The SCARA type robot segment is projected to register highest growth with 15.5% CAGR during the forecasted years.
• Asia Pacific is anticipated to register fastest growth from 2017 to 2025 across the global food robotics market.
• The key players in this market are ABB Group; Mitsubishi Electric Industries, Kawasaki Heavy Industries Ltd., and Rockwell Automation Incorporated.
Million Insights has segmented the global food robotics market on the basis of robots, payload, applications, and regions:
Food Robotics Types of Robots outlook (Revenue, USD Million; 2014 - 2025)
Food Robotics Payload outlook (Revenue, USD Million; 2014 - 2025)
Food Robotics Application outlook (Revenue, USD Million; 2014 - 2025)
Food Robotics Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Republic of Korea
• Rest of the World