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Strong Growth Ahead: Artificial Intelligence (AI) In Foodtech Market Size To Grow At Arecord 34.1% Cagr By 2029
Artificial Intelligence (AI) In Foodtech
How Big Is the Artificial Intelligence (AI) In Foodtech Market Size Expected to Be by 2034?
The artificial intelligence (AI) in foodtech market has experienced exponential growth in recent years. It is anticipated to increase from $6.38 billion in 2024 to $8.58 billion in 2025 at a CAGR of 34.5%. This expansion in the past can be attributed to the rising demand for automation, improvements in supply chain optimization, enhanced food safety and compliance, increasing consumer demand, and improved operational efficiency and cost reductions.
The artificial intelligence (AI) in foodtech market is poised for exponential growth in the coming years. It is projected to reach $27.73 billion by 2029, growing at a CAGR of 34.1%. The expansion in this sector is fueled by increasing consumer interest in personalized nutrition, rising food safety and quality control measures, greater supply chain optimization, a focus on sustainability and waste reduction, and enhanced food safety monitoring. Notable trends in this period will include technological innovations, personalized meal planning, smart farming and precision agriculture, predictive analytics for demand forecasting, and the adoption of robotics and automation in food processing.
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What Are the Emerging Segments Within the Artificial Intelligence (AI) In Foodtech Market?
The artificial intelligence (AI) in foodtech market covered in this report is segmented -
1) By Component: Solution, Services
2) By Application: Food Production And Processing, Product Development And Innovation, Supply Chain Management, Food Safety And Compliance, Other Applications
3) By End-User: Food And Beverage Manufacturers, Restaurants And Food Service Providers, Other End-Users
Subsegments:
1) By Solution: AI-Based Food Quality Monitoring Systems, AI-Powered Predictive Analytics For Demand Forecasting, AI in Supply Chain Optimization, Smart Kitchen Solutions, AI For Personalization In Food Recommendations, Automated Food Processing And Packaging Systems, AI-Driven Food Safety Systems, AI-Powered Robotics For Food Preparation
2) By Services: AI Consulting Services, AI Integration and Implementation Services, AI Training and Support Services, Managed Services For AI Systems, AI Data Analytics Services, AI Algorithm Customization Services, AI Testing And Quality Assurance Services
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What Long-Term Drivers Are Shaping Artificial Intelligence (AI) In Foodtech Market Trends?
The expanding food delivery sector is expected to accelerate the growth of AI in the foodtech market. Food delivery businesses transport prepared meals from restaurants or other food outlets to customers, driven by consumer demand for convenience and the rise of online ordering platforms. The food delivery market benefits from AI by optimizing delivery routes, predicting customer preferences, automating order management, and improving overall efficiency. For example, in May 2024, the Economic Times reported that Swiggy, an India-based food delivery platform, saw a 17% year-on-year growth in GMV during the first half of 2023, reaching $1.43 billion. Thus, the rise of the food delivery industry is accelerating the growth of AI in the foodtech sector.
Who Are the Top Competitors in Key Artificial Intelligence (AI) In Foodtech Market Segments?
Major companies operating in the artificial intelligence (AI) in foodtech market are Microsoft Corporation, Cargill Incorporated, International Business Machines Corporation, Oracle Corporation, SAP SE, NVIDIA Corporation, Agilent Technologies Inc., Zebra Technologies Corporation, InstaCart, TOMRA Systems ASA, Blue Yonder Group Inc., Grubhub Inc., Google DeepMind Technologies Limited, Rebel Foods, Tovala, Saffron Tech, Blue River Technology, Brightseed, Clear Labs Inc., Nutrino Health Ltd., FoodLogiQ, NotCo Ltd., AgShift, Zest Labs, ImpactVision
What Artificial Intelligence (AI) In Foodtech Market Trends Are Gaining Traction Across Different Segments?
The AI in foodtech market is benefiting from the automation of kitchen operations. Miso Robotics' Flippy 2, launched in November 2022, is an AI-powered kitchen assistant designed to automate frying tasks in quick-service restaurants. Flippy 2 improves food quality, reduces labor costs, and enhances service speed by managing the fry station.
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Which Regions Are Becoming Hubs for Artificial Intelligence (AI) In Foodtech Market Innovation?
North America was the largest region in the artificial intelligence (AI) in foodtech market in 2024. The regions covered in the artificial intelligence (AI) in foodtech market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Intelligence (AI) In Foodtech Market?
2. What is the CAGR expected in the Artificial Intelligence (AI) In Foodtech Market?
3. What Are the Key Innovations Transforming the Artificial Intelligence (AI) In Foodtech Industry?
4. Which Region Is Leading the Artificial Intelligence (AI) In Foodtech Market?
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