AI In Food And Beverages Global Market Expected to hit $39.4 Billion by 2028, Top Factors Leading The Industry Worldwide

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Overview and Scope
Artificial intelligence in food and beverages refers to the utilization of advanced artificial intelligence and machine learning techniques in the food and beverages sector to control food waste, deliveries, and food safety. Big data analytics and machine learning models are used by AI to derive practical insights about consumer demands and preferences that help with product creation.

Sizing and Forecast
The ai in food and beverages market size has grown exponentially in recent years. It will grow from $6.53 billion in 2023 to $9.56 billion in 2024 at a compound annual growth rate (CAGR) of 46.3%. The growth in the historic period can be attributed to quality control and assurance, supply chain optimization, consumer demand for personalization, efficient production processes, regulatory compliance.

The ai in food and beverages market size is expected to see exponential growth in the next few years. It will grow to $39.4 billion in 2028 at a compound annual growth rate (CAGR) of 42.5%. The growth in the forecast period can be attributed to advanced product development, enhanced customer engagement, sustainable and eco-friendly practices, precision agriculture, dynamic pricing strategies. Major trends in the forecast period include enhanced customer experience, blockchain integration for transparency, robotic process automation (rpa), ai in flavor and product development, food safety monitoring.

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Segmentation & Regional Insights
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

North America was the largest region in the AI in food and beverages market in 2023. 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

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Major Driver Impacting Market Growth
The growing number of startups in food and beverages is expected to propel the growth of the AI in food and beverage market going forward. A food and beverage startup refer to a brand-new company operating in the food industry that brings innovation into the space by creating new food processing solutions, improving food delivery, and eliminating food waste. AI in food and beverage helps startups by analyzing the prevalent customer demands and desires and extracting useful insights pertaining to their needs that help to develop products. For instance, according to EMW Law, a UK-based commercial law firm, the number of new food and drink start-ups in the UK has increased 47% from 3,996 to 5,885 in 2021 compared to the previous year. Therefore, the growing number of startups in food and beverages is driving the growth of the AI in food and beverage market.

Key Industry Players
Major companies operating in the ai in food and beverages market report are 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., Foodable Network LLC, 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

The ai in food and beverages market report table of contents includes:
1. Executive Summary