PORTLAND, OR — Allied Market Research has published a new report stating that the global food robotics market will experience explosive growth over the next decade, expected to hit a valuation of $5.78 billion by 2031.
The market was pegged at $2.04 billion in 2020, showing the rapid pace at which it has expanded. Allied reports a 10.4% CAGR of the global food robotics market from now until 2031.
A surge of safety regulations coupled with an unstable labor pool are a just few of the factors driving this growth. The pandemic affected consumption patterns and operations logistics as social distancing became imperative.
The report said that the palletizing segment of the market was dominant in terms of revenue in 2020, contributing to approximately two-fifths of total sales. However, the processing segment is expected to eclipse palletizing during the forecast period with a CAGR of 12.2%.
Automation and robotics are topics that are increasingly imperative to baking companies across the country and in nearly every product type. Not only is it critical to alleviate workforce shortages, but to keep employees happy doing less tedious tasks.
Learn more about the report here.
