“The global food robotics market is projected to grow at a CAGR of 12.80%.”
The global food robotics market is estimated at USD 1.37 billion in 2017 and is projected to reach USD 2.50 billion by 2022, at a CAGR of 12.80% during the forecast period. The primary factors that drive the market are increasing food safety regulations, higher demand for packaged foods, and the increasing need to improve productivity. 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 maximize the growth of the food robotics market.
“The collaborative segment by type is projected to have the highest CAGR during the forecast period.”
The collaborative robot segment by type is projected to have the highest CAGR during the forecast period. A collaborative robot is a robot designed to assist human beings in a specific task. In one approach to the collaborative robot design, it 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. The collaborative robot design is to expand the functioning of robots beyond providing repetitive motion and to include learning and thinking abilities.
“The low payload segment is projected to have the highest CAGR during the forecast period.”
The low payload segment is projected to have the highest CAGR during the forecast period. The popular low payload series of robots include Staubli TP & TS 4-axis series and TX & TX2 6-axis series by Staubli International AG (Switzerland); KUKA KR Cybertech by KUKA AG (Germany); and Evermore CNC. By Evermore Machine Co. Ltd. (Taiwan). This market segment is growing at a rapid pace due to the increased usage of robot arms for applications such as picking & packaging.
“The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period.”
The Asia-Pacific market is projected to have the highest CAGR during the forecast period. The demand for food robotics is growing in the Asia-Pacific region as the consumer demand for ready-to-eat products has increased rapidly in the last decade. The major factors driving the Asia-Pacific food robotics market is urbanization and rise in disposable income of the consumers that has led to the growth of packaged food consumption.
Break-up of Primaries:
- By Company Type: Tier 1 – 40%; Tier 2 – 40%; and Tier 3 – 20%
- By Designation: C Level – 20%; Manager Level – 40%; Director Level – 40%
- By Region: North America – 25%; Europe – 25%; Asia-Pacific – 50%
Key players include the following:
- Mitsubishi Electric Corporation (Japan)
- ABB Group (Switzerland)
- Kawasaki Heavy Industries Ltd. (Japan)
- Rockwell Automation Incorporated (U.S.)
- FANUC Corporation (Japan)
The key companies in the food robotics market adopted strategies such as mergers & acquisitions, agreements & collaborations, new product launches & product approvals, and investments & expansions as their key growth strategies to increase their market share and profits. New product launches accounted for the highest number of developments followed by the merger and expansions.
The report provides the food robotics market across different segments. It aims at estimating the market size and future growth potential of this market across different types, payload, application, and region. The report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and business strategies.
Key Reasons to buy the Report:
- To get an overview of the global food robotics market.
- From an insight perspective, this research report has focused on detailed analyses?industry, market share of top players, and company profiles.
- This report also explains high-growth segments of the global food robotics market, its high-growth regions and, drivers, restraints, opportunities, and challenges.