Artificial Intelligence (AI) Market in Food and Beverage Industry 2024-2028

The artificial intelligence (AI) market in food and beverage industry is forecasted to grow by USD 35,207.82 mn during 2023-2028, accelerating at a CAGR of 39.47% during the forecast period. The report on the artificial intelligence (AI) market in food and beverage industry provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising demand for automation to improve productivity, regulations to improve food safety, and evolving industrial IoT and big data integration.

Market Scope
Base Year	2023
End Year	2028
Series Year	2024-2028
Growth Momentum	Accelerate
YOY 2024	39.15%
CAGR	39.47%
Incremental Value	$35207.82mn

Technavio's artificial intelligence (AI) market in food and beverage industry is segmented as below:

By Type

Transportation and logistics
Production planning
Quality control
Others

By End-user

Food processing industry
Hotels and restaurants
Beverage industry

By Geographical Landscape

North America
Europe
APAC
South America
Middle East and Africa

This study identifies the emergence of IIoT as one of the prime reasons driving the artificial intelligence (AI) market in food and beverage industry growth during the next few years. Also, technology innovations in the food and beverage industry and advances in AI technology will lead to sizable demand in the market.

The report on the artificial intelligence (AI) market in food and beverage industry covers the following areas:

Artificial intelligence (AI) market in food and beverage industry sizing
Artificial intelligence (AI) market in food and beverage industry forecast
Artificial intelligence (AI) market in food and beverage industry industry analysis

The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading artificial intelligence (AI) market in food and beverage industry vendors that include ABB Ltd., Aboard Software, AGCO Corp., Ailytic Holdings Pty Ltd., Analytical Flavor Systems Inc., Buhler AG, De Greefs Wagen Carrosserie en Machinebouw BV, Duravant LLC, Foodable Network LLC, Honeywell International Inc., Key Technology Inc., Martec Of Whitwell Ltd., Ravenwood Packaging Ltd., Raytec Vision S.p.A., Rockwell Automation Inc., Sesotec GmbH, Siemens AG, Sight Machine, The Not Co. Inc., and Tomra Systems ASA. Also, the artificial intelligence (AI) market in food and beverage industry analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.

Product Code: IRTNTR70234

1 Executive Summary

1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Global Market Characteristics
Exhibit 04: Executive Summary - Chart on Market By Geographical Landscape
Exhibit 05: Executive Summary - Chart on Market Segmentation by Type
Exhibit 06: Executive Summary - Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary - Chart on Incremental Growth
Exhibit 08: Executive Summary - Data Table on Incremental Growth
Exhibit 09: Executive Summary - Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
Exhibit 10: Parent market
Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
Exhibit 12: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 13: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 14: Chart on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2023-2028 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2023-2028 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2023-2028 (%)

4 Historic Market Size

4.1 Global Artificial intelligence (AI) market in food and beverage industry 2018 - 2022
Exhibit 18: Historic Market Size - Data Table on global artificial intelligence (ai) market in food and beverage industry 2018 - 2022 ($ million)
4.2 Type Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - Type Segment 2018 - 2022 ($ million)
4.3 End-user Segment Analysis 2018 - 2022
Exhibit 20: Historic Market Size - End-user Segment 2018 - 2022 ($ million)
4.4 Geography Segment Analysis 2018 - 2022
Exhibit 21: Historic Market Size - Geography Segment 2018 - 2022 ($ million)
4.5 Country Segment Analysis 2018 - 2022
Exhibit 22: Historic Market Size - Country Segment 2018 - 2022 ($ million)

5 Five Forces Analysis

5.1 Five forces summary
Exhibit 23: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 24: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 25: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 26: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 27: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 28: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 29: Chart on Market condition - Five forces 2023 and 2028

6 Market Segmentation by Type

6.1 Market segments
Exhibit 30: Chart on Type - Market share 2023-2028 (%)
Exhibit 31: Data Table on Type - Market share 2023-2028 (%)
6.2 Comparison by Type
Exhibit 32: Chart on Comparison by Type
Exhibit 33: Data Table on Comparison by Type
6.3 Transportation and logistics - Market size and forecast 2023-2028
Exhibit 34: Chart on Transportation and logistics - Market size and forecast 2023-2028 ($ million)
Exhibit 35: Data Table on Transportation and logistics - Market size and forecast 2023-2028 ($ million)
Exhibit 36: Chart on Transportation and logistics - Year-over-year growth 2023-2028 (%)
Exhibit 37: Data Table on Transportation and logistics - Year-over-year growth 2023-2028 (%)
6.4 Production planning - Market size and forecast 2023-2028
Exhibit 38: Chart on Production planning - Market size and forecast 2023-2028 ($ million)
Exhibit 39: Data Table on Production planning - Market size and forecast 2023-2028 ($ million)
Exhibit 40: Chart on Production planning - Year-over-year growth 2023-2028 (%)
Exhibit 41: Data Table on Production planning - Year-over-year growth 2023-2028 (%)
6.5 Quality control - Market size and forecast 2023-2028
Exhibit 42: Chart on Quality control - Market size and forecast 2023-2028 ($ million)
Exhibit 43: Data Table on Quality control - Market size and forecast 2023-2028 ($ million)
Exhibit 44: Chart on Quality control - Year-over-year growth 2023-2028 (%)
Exhibit 45: Data Table on Quality control - Year-over-year growth 2023-2028 (%)
6.6 Others - Market size and forecast 2023-2028
Exhibit 46: Chart on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 47: Data Table on Others - Market size and forecast 2023-2028 ($ million)
Exhibit 48: Chart on Others - Year-over-year growth 2023-2028 (%)
Exhibit 49: Data Table on Others - Year-over-year growth 2023-2028 (%)
6.7 Market opportunity by Type
Exhibit 50: Market opportunity by Type ($ million)
Exhibit 51: Data Table on Market opportunity by Type ($ million)

7 Market Segmentation by End-user

7.1 Market segments
Exhibit 52: Chart on End-user - Market share 2023-2028 (%)
Exhibit 53: Data Table on End-user - Market share 2023-2028 (%)
7.2 Comparison by End-user
Exhibit 54: Chart on Comparison by End-user
Exhibit 55: Data Table on Comparison by End-user
7.3 Food processing industry - Market size and forecast 2023-2028
Exhibit 56: Chart on Food processing industry - Market size and forecast 2023-2028 ($ million)
Exhibit 57: Data Table on Food processing industry - Market size and forecast 2023-2028 ($ million)
Exhibit 58: Chart on Food processing industry - Year-over-year growth 2023-2028 (%)
Exhibit 59: Data Table on Food processing industry - Year-over-year growth 2023-2028 (%)
7.4 Hotels and restaurants - Market size and forecast 2023-2028
Exhibit 60: Chart on Hotels and restaurants - Market size and forecast 2023-2028 ($ million)
Exhibit 61: Data Table on Hotels and restaurants - Market size and forecast 2023-2028 ($ million)
Exhibit 62: Chart on Hotels and restaurants - Year-over-year growth 2023-2028 (%)
Exhibit 63: Data Table on Hotels and restaurants - Year-over-year growth 2023-2028 (%)
7.5 Beverage industry - Market size and forecast 2023-2028
Exhibit 64: Chart on Beverage industry - Market size and forecast 2023-2028 ($ million)
Exhibit 65: Data Table on Beverage industry - Market size and forecast 2023-2028 ($ million)
Exhibit 66: Chart on Beverage industry - Year-over-year growth 2023-2028 (%)
Exhibit 67: Data Table on Beverage industry - Year-over-year growth 2023-2028 (%)
7.6 Market opportunity by End-user
Exhibit 68: Market opportunity by End-user ($ million)
Exhibit 69: Data Table on Market opportunity by End-user ($ million)

8 Customer Landscape

8.1 Customer landscape overview
Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

9.1 Geographic segmentation
Exhibit 71: Chart on Market share By Geographical Landscape 2023-2028 (%)
Exhibit 72: Data Table on Market share By Geographical Landscape 2023-2028 (%)
9.2 Geographic comparison
Exhibit 73: Chart on Geographic comparison
Exhibit 74: Data Table on Geographic comparison
9.3 North America - Market size and forecast 2023-2028
Exhibit 75: Chart on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 76: Data Table on North America - Market size and forecast 2023-2028 ($ million)
Exhibit 77: Chart on North America - Year-over-year growth 2023-2028 (%)
Exhibit 78: Data Table on North America - Year-over-year growth 2023-2028 (%)
9.4 Europe - Market size and forecast 2023-2028
Exhibit 79: Chart on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 80: Data Table on Europe - Market size and forecast 2023-2028 ($ million)
Exhibit 81: Chart on Europe - Year-over-year growth 2023-2028 (%)
Exhibit 82: Data Table on Europe - Year-over-year growth 2023-2028 (%)
9.5 APAC - Market size and forecast 2023-2028
Exhibit 83: Chart on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 84: Data Table on APAC - Market size and forecast 2023-2028 ($ million)
Exhibit 85: Chart on APAC - Year-over-year growth 2023-2028 (%)
Exhibit 86: Data Table on APAC - Year-over-year growth 2023-2028 (%)
9.6 South America - Market size and forecast 2023-2028
Exhibit 87: Chart on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 88: Data Table on South America - Market size and forecast 2023-2028 ($ million)
Exhibit 89: Chart on South America - Year-over-year growth 2023-2028 (%)
Exhibit 90: Data Table on South America - Year-over-year growth 2023-2028 (%)
9.7 Middle East and Africa - Market size and forecast 2023-2028
Exhibit 91: Chart on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 92: Data Table on Middle East and Africa - Market size and forecast 2023-2028 ($ million)
Exhibit 93: Chart on Middle East and Africa - Year-over-year growth 2023-2028 (%)
Exhibit 94: Data Table on Middle East and Africa - Year-over-year growth 2023-2028 (%)
9.8 US - Market size and forecast 2023-2028
Exhibit 95: Chart on US - Market size and forecast 2023-2028 ($ million)
Exhibit 96: Data Table on US - Market size and forecast 2023-2028 ($ million)
Exhibit 97: Chart on US - Year-over-year growth 2023-2028 (%)
Exhibit 98: Data Table on US - Year-over-year growth 2023-2028 (%)
9.9 China - Market size and forecast 2023-2028
Exhibit 99: Chart on China - Market size and forecast 2023-2028 ($ million)
Exhibit 100: Data Table on China - Market size and forecast 2023-2028 ($ million)
Exhibit 101: Chart on China - Year-over-year growth 2023-2028 (%)
Exhibit 102: Data Table on China - Year-over-year growth 2023-2028 (%)
9.10 Germany - Market size and forecast 2023-2028
Exhibit 103: Chart on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 104: Data Table on Germany - Market size and forecast 2023-2028 ($ million)
Exhibit 105: Chart on Germany - Year-over-year growth 2023-2028 (%)
Exhibit 106: Data Table on Germany - Year-over-year growth 2023-2028 (%)
9.11 UK - Market size and forecast 2023-2028
Exhibit 107: Chart on UK - Market size and forecast 2023-2028 ($ million)
Exhibit 108: Data Table on UK - Market size and forecast 2023-2028 ($ million)
Exhibit 109: Chart on UK - Year-over-year growth 2023-2028 (%)
Exhibit 110: Data Table on UK - Year-over-year growth 2023-2028 (%)
9.12 Canada - Market size and forecast 2023-2028
Exhibit 111: Chart on Canada - Market size and forecast 2023-2028 ($ million)
Exhibit 112: Data Table on Canada - Market size and forecast 2023-2028 ($ million)
Exhibit 113: Chart on Canada - Year-over-year growth 2023-2028 (%)
Exhibit 114: Data Table on Canada - Year-over-year growth 2023-2028 (%)
9.13 Market opportunity By Geographical Landscape
Exhibit 115: Market opportunity By Geographical Landscape ($ million)
Exhibit 116: Data Tables on Market opportunity By Geographical Landscape ($ million)

10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 117: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends

11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape
Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 119: Overview on factors of disruption
11.4 Industry risks
Exhibit 120: Impact of key risks on business

12 Vendor Analysis

12.1 Vendors covered
Exhibit 121: Vendors covered
12.2 Market positioning of vendors
Exhibit 122: Matrix on vendor position and classification
12.3 ABB Ltd.
Exhibit 123: ABB Ltd. - Overview
Exhibit 124: ABB Ltd. - Business segments
Exhibit 125: ABB Ltd. - Key offerings
Exhibit 126: ABB Ltd. - Segment focus
12.4 Aboard Software
Exhibit 127: Aboard Software - Overview
Exhibit 128: Aboard Software - Product / Service
Exhibit 129: Aboard Software - Key offerings
12.5 AGCO Corp.
Exhibit 130: AGCO Corp. - Overview
Exhibit 131: AGCO Corp. - Business segments
Exhibit 132: AGCO Corp. - Key news
Exhibit 133: AGCO Corp. - Key offerings
Exhibit 134: AGCO Corp. - Segment focus
12.6 Ailytic Holdings Pty Ltd.
Exhibit 135: Ailytic Holdings Pty Ltd. - Overview
Exhibit 136: Ailytic Holdings Pty Ltd. - Product / Service
Exhibit 137: Ailytic Holdings Pty Ltd. - Key offerings
12.7 Analytical Flavor Systems Inc.
Exhibit 138: Analytical Flavor Systems Inc. - Overview
Exhibit 139: Analytical Flavor Systems Inc. - Product / Service
Exhibit 140: Analytical Flavor Systems Inc. - Key offerings
12.8 Buhler AG
Exhibit 141: Buhler AG - Overview
Exhibit 142: Buhler AG - Business segments
Exhibit 143: Buhler AG - Key offerings
Exhibit 144: Buhler AG - Segment focus
12.9 Duravant LLC
Exhibit 145: Duravant LLC - Overview
Exhibit 146: Duravant LLC - Product / Service
Exhibit 147: Duravant LLC - Key offerings
12.10 Honeywell International Inc.
Exhibit 148: Honeywell International Inc. - Overview
Exhibit 149: Honeywell International Inc. - Business segments
Exhibit 150: Honeywell International Inc. - Key news
Exhibit 151: Honeywell International Inc. - Key offerings
Exhibit 152: Honeywell International Inc. - Segment focus
12.11 Martec Of Whitwell Ltd.
Exhibit 153: Martec Of Whitwell Ltd. - Overview
Exhibit 154: Martec Of Whitwell Ltd. - Product / Service
Exhibit 155: Martec Of Whitwell Ltd. - Key offerings
12.12 Raytec Vision S.p.A.
Exhibit 156: Raytec Vision S.p.A. - Overview
Exhibit 157: Raytec Vision S.p.A. - Product / Service
Exhibit 158: Raytec Vision S.p.A. - Key offerings
12.13 Rockwell Automation Inc.
Exhibit 159: Rockwell Automation Inc. - Overview
Exhibit 160: Rockwell Automation Inc. - Business segments
Exhibit 161: Rockwell Automation Inc. - Key news
Exhibit 162: Rockwell Automation Inc. - Key offerings
Exhibit 163: Rockwell Automation Inc. - Segment focus
12.14 Sesotec GmbH
Exhibit 164: Sesotec GmbH - Overview
Exhibit 165: Sesotec GmbH - Product / Service
Exhibit 166: Sesotec GmbH - Key offerings
12.15 Siemens AG
Exhibit 167: Siemens AG - Overview
Exhibit 168: Siemens AG - Business segments
Exhibit 169: Siemens AG - Key news
Exhibit 170: Siemens AG - Key offerings
Exhibit 171: Siemens AG - Segment focus
12.16 The Not Co. Inc.
Exhibit 172: The Not Co. Inc. - Overview
Exhibit 173: The Not Co. Inc. - Product / Service
Exhibit 174: The Not Co. Inc. - Key offerings
12.17 Tomra Systems ASA
Exhibit 175: Tomra Systems ASA - Overview
Exhibit 176: Tomra Systems ASA - Business segments
Exhibit 177: Tomra Systems ASA - Key offerings
Exhibit 178: Tomra Systems ASA - Segment focus

13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 179: Inclusions checklist
Exhibit 180: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 181: Currency conversion rates for US$
13.4 Research methodology
Exhibit 182: Research methodology
Exhibit 183: Validation techniques employed for market sizing
Exhibit 184: Information sources
13.5 List of abbreviations
Exhibit 185: List of abbreviations