Key Trends Shaping the Food Robotics Market
The global food robotics market size is estimated to be valued at USD 1.9 billion in 2020 and projected to reach USD 4.0 billion by 2026, recording a CAGR of 13.1%
The report "Food Robotics Market by Type (Articulated, Cartesian, SCARA, Parallel, Collaborative, Cylindrical), Payload (Heavy, Medium, Low), Function (Palletizing, Packaging, Repackaging, Picking, Processing), Application and Region - Trends & Forecast to 2026" According to MarketsandMarkets, the global food robotics market size is estimated to be valued at USD 1.9 billion in 2020 and projected to reach USD 4.0 billion by 2026, recording a CAGR of 13.1% forecast period. The demand for food robotics is increasing significantly owing to surging demand for food with increasing population and increasing demand for enhanced productivity in food processing. Additionally, increasing automation in the food industry is projected to provide growth opportunities for the food robotics market.
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Opportunities: Increasing functionality of robots
Traditionally, the functionality and use of robots was limited to heavy payload in transportation equipment manufacturing. However, with the increasing functionality of robots more industries, such as the food processing industry are adopting automation with mainly low payload robots. Sections such as dairy and bakery in the food & beverage industry are minimizing human contact in the production process in order to comply with health authority standards. There is an opportunity for the food robotics market to grow with the increase in functionality of robots to include packaging, repackaging, and palletizing.
Challenges: High installation cost of robotic system
Most food manufacturers are reluctant to adopt automated processes due to the installation cost over and above the price of the robot. The added cost to turn the individual robots into a comprehensive robotic system, peripheral equipment such as safety barriers, sensors, programmable logic controllers (PLC), human machine interface (HMI), and safety systems is a challenge for market growth. Additionally there are engineering costs for programming, installation, and commissioning. These additional costs pose a challenge for the growth of the food robotics market. Small- and medium-scale manufacturers are reluctant to incur high initial costs of installation as it could extend the period to achieve the break-even point.
Asia Pacific is projected to account for the fastest-growing market during the forecast period
Due to the high population in the region and changing lifestyles, the demand for RTE foods is growing. The automation in production and processing of RTE foods in the Asia Pacific region is projected to provide growth opportunities for the food robotics market.
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Key Market Players:
Key players in this market include ABB Group(Switzerland),KUKA AG (Germany), Fanuc Corporation (Japan), Kawasaki Heavy Industries Ltd. (Japan), Rockwell Automation Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Yasakawa Electric Corporation (Japan), Denso Corporation (Japan), Nachi-Fujikoshi Corporation (Japan), OMRON Corporation (Japan), Universal Robots A/S (Denmark), Staubli International AG (Switzerland), Bastian Solutions LLC (U.S.), Schunk GmbH (Germany), Asic Robotics AG (Switzerland), Mayekawa Mfg. Co. Ltd. (Japan), Apex Automation & Robotics (Australia), Aurotek Corporation (Taiwan), Ellison Technologies Inc. (U.S.), Fuji Robotics (Japan), and Moley Robotics (U.K.).