AI In Food And Beverages Market Outlook
Which drivers are expected to have the greatest impact on the over the ai in food and beverages market’s growth?
The increasing interest in dietary supplements is forecasted to fuel the expansion of the AI in food and beverage industry. Dietary supplements are food additives that contain one or more dietary ingredients like vitamins, minerals, herbs, amino acids, and enzymes. The elevated demand for dietary supplements is chiefly due to an aging population, improved health consciousness, and hectic lifestyles, as people look for handy options to preserve their health. AI scrutinizes individual health information, choices, and dietary requirements to make tailored supplement suggestions, thus enhancing customer satisfaction and adherence to supplementation routines. For example, in October 2022, according to a survey by the Council for Responsible Nutrition, a non-profit trade organization in the US, it was found that out of the 3,133 U.S. adults aged 18 and over surveyed, 2,342 stated that they used dietary supplements seasonally, sporadically, or consistently. 75% of Americans integrate dietary supplements into their everyday routine. Consequently, the escalating demand for dietary supplements is driving the growth of the AI in food and beverage industry.
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What is the future CAGR of the ai in food and beverages market, and how will it impact industry expansion?
There has been an incredible expansion in the size of the AI in food and beverages market in the past few years. Its growth is anticipated to surge from $9.4 billion in 2024 to $13.61 billion in 2025, at a Compound Annual Growth Rate (CAGR) of 44.8%. The historical growth can be linked to factors such as improved quality control and assurance, enhanced supply chain optimization, growing demand from consumers for personalized products, effective production processes, and increased adherence to regulations.
Expectations are high for the AI in food and beverages market size to experience remarkable expansion in the coming years. The market is predicted to increase in size to “$56.47 billion by 2029, boasting a compound annual growth rate (CAGR) of 42.7%. Factors contributing to the upward trend during the forecasted period include advancements in product development, improved customer interaction, eco-conscious practices, precision agriculture enhancements, and flexible pricing strategies. The forecast period also anticipates notable trends such as improved customer experiences, employment of blockchain for transparency, the use of robotic process automation (RPA), application of AI for product and flavor development, and food safety monitoring systems.
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What are the most significant trends transforming the ai in food and beverages market today?
The progression of technology is a notable emerging trend in the AI in food and beverages market. Firms active in this market are embracing novel technologies to maintain their leadership. As an example, Tastewise, a software firm from Israel, debuted TasteGPT, a chatbot solution, in March 2023. This chatbot is designed to enhance the company’s clients’ efficiency, encompassing different brands, and to reduce research and development duration. In a matter of seconds, TasteGPT can answer business queries about innovation and insights.
Which key market segments comprise the ai in food and beverages market and drive its revenue growth?
The AI in food and beverages market covered in this report is segmented –
1) By Type: Hardware, Software
2) By Organization Size: Small Enterprises, Medium And Large Enterprises
3) By Application: Food Storing, Consumer Engagement, Quality Control, Safety Compliance, Production And Packaging, Maintenance, Other Applications
4) By marketing Channel: Traditional marketing Channel (Offline), Online marketing Channel
5) By End User: Hotels And Restaurants, Food Processing Industries, Other End Users
Subsegments:
1) By Hardware: Sensors, Robots, Processors, Automation Systems, IoT Devices
3) By Software: Machine Learning Software, Data Analytics Software, Quality Control Software, Supply Chain Management Software, Customer Relationship Management (CRM) Software
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What regions are at the forefront of ai in food and beverages market expansion?
North America was the largest region in the AI in food and beverages market in 2024.Asia-Pacific is expected to be the fastest-growing region in the global AI in food and beverages market report during the forecast period. The regions covered in the AI in food and beverages market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Who are the leading players fueling growth in the ai in food and beverages market?
Major companies operating in the AI in food and beverages market include Raytec Vision SpA, Rockwell Automation Inc., ABB Ltd., Honeywell International Inc., TOMRA Sorting Solutions AS, Sesotec GmbH, Martec of Whitell Ltd., Key Technology Inc., Greefa Co., Sight Machine Inc., Compac Sorting Equipment Ltd., Agco Corporation, National Recovery Technologies LLC, Bulk Handling Systems, Buhler AG, QualySense AG, BoMill AB, ClarifAI Inc., BBC Technologies, Intelligent X Brewing Co., International Business Machines Corporation, Microsoft Corporation, Google LLC, Amazon.com Inc., Siemens AG, Schneider Electric SE, Emerson Electric Co., Yokogawa Electric Corporation, Mitsubishi Electric Corporation, Omron Corporation, Fanuc Corporation, GEA Group AG, Tetra Pak International SA, Krones AG, Sidel International AG, Alfa Laval AB, SPX Flow Inc., JBT Corporation
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What Is Covered In The AI In Food And Beverages Global Market Report?
• Market Size Forecast: Examine the ai in food and beverages market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the ai in food and beverages market for a structured understanding.
• Key Players Overview: Analyze major players in the ai in food and beverages market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai in food and beverages market.
• Segment Contributions: Evaluate how different segments drive overall growth in the ai in food and beverages market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai in food and beverages market.
• Industry Challenges: Identify potential risks and obstacles affecting the ai in food and beverages market.
• Competitive Landscape: Review strategic developments in the ai in food and beverages market, including expansions, agreements, and new product launches.
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