Study: Robotics market worth $2.5B by 2022
Articulated robots by type had the largest market share in 2016.
The global food robotics market is estimated at $1.37 billion in 2017, and is projected to reach $2.5 billion by 2022, at a CAGR of 12.80% during the forecast period, according to a report published by MarketsandMarkets, New York.
The study, "Food Robotics Market by Type, Application (Palletizing, Packaging, Repackaging, Pick & Place, Processing), Payload (Low, Medium, Heavy) & Region - Forecast to 2022,” reveals that articulated robots by type had the largest market share in 2016. Articulated robots can range from simple 2-joint robots to complex 10-joint ones. The more joints an articulated robot has, the greater its range of motion, making it flexible for food processing. Moreover, articulated robots have a wide variety of payload capacities, which makes them useful in the food industry.
The medium segment of the food robotics market by payload had the largest market share in 2016. The medium segment may be defined as robots with payload capacity ranging between 10 kg to 100 kg. In the food and beverage industry, the market for medium payload robots led in 2016, as most of the automated processes require a certain degree of flexibility to cater to the changing manufacturing needs.
The palletizing segment of the food robotics segment by application had the largest market share in 2016. This is due to reducing operating cost and labor requirements, increasing turnaround time and production and reducing ergonomic issues; these properties help in increasing their demand in the food and beverage industry. Palletizing refers to the process of loading and unloading large and heavy boxes and parts to and from pallets in food and beverage manufacturing and distribution facilities and warehouses.
The Asia-Pacific region is projected to have the highest CAGR during the forecast period. The countries covered in the Asia-Pacific region are projected to be the fastest-growing market for food robotics due to the increasing demand of ready-to-eat products. The packaged food consumption growth increased due to urbanization in the Asia-Pacific region.