SAN FRANCISCO, Oct. 8, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Food Robotics - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 711
Companies: 43 - Players covered include ABB Group; Bastian Solutions, Inc.; FANUC Corporation; Kawasaki Heavy Industries Ltd.; KUKA AG; Mayekawa Mfg. Co., Ltd.; Mitsubishi Electric Corporation; Rockwell Automation, Inc.; Seiko Epson Corporation; Staubli International AG; Universal Robots A/S; Yaskawa Electric Corporation and Others.
Coverage: All major geographies and key segments
Segments: Payload (Low (Below 10 Kg), Medium (10 Kg-100 Kg), Heavy (Above 100 Kg)); Application (Palletizing, Packaging & Repackaging, Pick & Place, Processing, Other Applications); End-Use (Beverages; Meat, Poultry & Seafood; Fruits & Vegetables; Confectionery; Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Food Robotics Market to Reach $3.9 Billion by 2026
Amid the COVID-19 crisis, the global market for Food Robotics estimated at US$1.9 Billion in the year 2020, is projected to reach a revised size of US$3.9 Billion by 2026, growing at a CAGR of 12.1% over the analysis period. Low (Below 10 Kg), one of the segments analyzed in the report, is projected to record a 13.3% CAGR and reach US$1.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Medium (10 Kg-100 Kg) segment is readjusted to a revised 11.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $656.9 Million in 2021, While China is Forecast to Reach $684.6 Million by 2026
The Food Robotics market in the U.S. is estimated at US$656.9 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$684.6 Million by the year 2026 trailing a CAGR of 11.6% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 10.9% and 10.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.7% CAGR.
Heavy (Above 100 Kg) Segment to Reach US$396.1 Million by the year 2026
In the global Heavy (Above 100 Kg) segment, USA, Canada, Japan, China and Europe will drive the 10.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$175.4 Million in the year 2020 will reach a projected size of US$343.3 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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