Global Artificial Intelligence (AI) in Food & Beverages Market to Reach US$ 102.2 Billion by 2032, Fueled by Growing Advancements in the F&B Infrastructure

July 10, 2023 | Technology & Media

According to the latest report by IMARC Group, titled “­­Artificial Intelligence (AI) in Food & Beverages Market by Application (Food Sorting, Quality Control and Safety Compliance, Consumer Engagement, Production and Packaging, Maintenance, and Others), End Use (Food Processing Industry, Hotel and Restaurant, Beverage Industry), and Region 2024-2032,” the global artificial intelligence (AI) in food & beverages market size reached US$ 7.5 Billion in 2023. Artificial Intelligence (AI) in food & beverages involves the application of advanced technologies that mimic human intelligence to streamline various operations of the food industry. AI systems are designed to think, learn, and make decisions, enabling them to automate and optimize processes in food production, processing, quality control, supply chain management, and customer experience. It provides numerous benefits, such as increased productivity, enhanced food safety and quality, optimized supply chain management, personalized customer experiences, and improved decision-making based on actionable insights.

Global Artificial Intelligence (AI) in Food & Beverages Market Trends:

The surging demand for food safety and quality is encouraging many companies to adopt AI solutions, primarily driving the market growth. Besides this, AI-powered systems can analyze vast amounts of data to detect potential contaminants, monitor production processes, and ensure compliance with regulatory standards, thereby minimizing the risk of foodborne illnesses and enhancing consumer trust. Moreover, the growing need for operational efficiency and cost reduction is propelling the adoption of AI in areas such as inventory management, demand forecasting, and supply chain optimization. Concurrent with this, with the growing focus on personalized customer experiences, an expanding number of companies are leveraging AI technologies to tailor their offerings to individual preferences, enhance customer engagement, and build brand loyalty by personalizing recommendations, menu customization, and interactive chatbots, which is supporting the market growth. In addition to this, the emergence of AI-powered analytics platforms enabling valuable insights from large datasets to make data-driven decisions, identify market trends, and develop innovative products are presenting remunerative opportunities for the market growth. Furthermore, the bolstering growth of the hotels, restaurants, and catering (HoReCa) sector and the expanding establishment of quick service restaurants (QSRs) have facilitated the demand for AI in food and beverage units, aiding in market expansion. Looking forward, the market value is projected to reach US$ 102.2 Billion by 2032, expanding at a CAGR of 32.65% during 2024-2032.

Market Summary:

  • On the basis of the application, the market has been segregated into food sorting, quality control and safety compliance, consumer engagement, production and packaging, maintenance, and others. Currently, consumer engagement dominates the market, holding the largest share.
  • Based on the end use, the market is categorized into food processing industry, hotel and restaurant, and beverage industry. Among these, food processing industry represents the biggest market segment.
  • On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Presently, North America enjoys the leading position in the market.The competitive landscape of the market has also been examined, with some of the key players being ABB Ltd., Sesotec GmbH, Siemens AG, Sight Machine, TOMRA System ASA, etc.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Applications Covered Food Sorting, Quality Control and Safety Compliance, Consumer Engagement, Production and Packaging, Maintenance, Others
End Uses Covered Food Processing Industry, Hotel and Restaurant, Beverage Industry
Regions Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered ABB Ltd., Sesotec GmbH, Siemens AG, Sight Machine, TOMRA System ASA, etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Artificial Intelligence (AI) in Food & Beverages Market to Reach US$ 102.2 Billion by 2032, Fueled by Growing Advancements in the F&B Infrastructure
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