Oct 16 2017
The "Food Robotics Market - Global Opportunity Analysis And Industry Forecast (2017-2022)" report has been added to Research and Markets' offering.
Global Food Robotics Market is expected to reach USD 2,159.3 million by 2022 supported by a CAGR of 12.5% during the forecast period of 2017 to 2022.
The global food robotics market is mainly driven by the increasing food safety regulations, rising demand for advanced food packaging, growing demand to improve productivity, increasing production of low-cost robots, rise in investments for automated solutions in food industry, and growing demand for reducing production cost and increasing food shelf-life leading to increasing adoption of robotic systems. However, lack of skilled workforce in emerging economies restricts the growth of this market. Moreover, high cost of installation and service charges of robotic systems further challenges the growth of this market.
Geographically, the global food robotics market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. These regions are further analysed at a country level with the detailed qualitative and quantitative analysis. Europe accounted for the major share of the global food robotics market in 2016, followed by North America, and Asia-Pacific.
The major share of the European region is mainly attributed to the increasing energy efficiency and reducing production cost with the use of robots, relatively quick high return on investment which allows sustainable and more flexible production line, rising investment for automation in dairy industry, increasing demand for automation in prepared food and meat processing industry, and enhanced competitiveness in the region.
On the other hand, Asia-Pacific region is projected to grow at a fastest CAGR of 15.4% during the forecast period, due to increasing demand to improve productivity, emergence of advanced and new robotic technologies, increased production of low-cost robots, increasing food safety regulations, and growing investments in automated systems.
Source: https://www.researchandmarkets.com/research/6fqctc/food_robotics