Research Nester has released a report titled “Cooking Robot Market – Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global cooking robot market in terms of market segmentation by robot type, pay load, application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The global cooking robot market is segmented by robot type into articulated, collaborative, cartesian, SCARA, parallel, cylindrical and others, out of which, the collaborative robot segment is anticipated to hold the largest market share on account of the multi-functional capabilities of the robot type, along with the capabilities of the robots, such as machine learning and artificial intelligence technologies that make them eligible to be used for cooking different type of cuisines.
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The global cooking robot market is anticipated to record a significant CAGR throughout the forecast period, i.e. 2021-2028. Growing trends for automation in the hotel and hospitality industry, increasing investments by several large restaurant chains for automation of their processes, and the increasing sales of retail and food services around the world are some of the factors anticipated to promote towards the growth of the global cooking robot market. In the statistics by the United Census Bureau, sales for retail and food services in the United States peaked to USD 6023408 million in the year 2018 from USD 4283737 million in the year 2010.
Regionally, the global cooking robot market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Among these regions, the market in North America is anticipated to hold the largest market share on account of the availability of several large fast food supply chains with the capability to deploy cooking robots. Further, the market in the region is also anticipated to observe significant growth in the sales and the number of restaurants, thereby influencing the growth of the market. In the statistics by the National Restaurant Association of America, sales worth USD 899 billion is anticipated to be recorded in the year 2020. Additionally, the statistics also stated that the region would observe more than 1 million restaurant locations by the end of 2020.
Growing Concerns for The Global Pandemic COVID-19
In the statistics by the World Health Organization (WHO), around the world as on 15th of July 2020, the total number of active confirmed cases of coronavirus disease recorded to be 13,119,239 numbers, along with the total number of deaths to be 573,752 numbers.
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Changing business model to survive the global pandemic COVID-19, backed by the stringent government norms to stop the spread of the disease, has raised the necessity amongst the food operators to adopt cooking robots, so as to reduce the human contact that is required for cooking the food for the customers. Cooking robots significantly reduce human contact in the overall cooking process, therefore helping to lower the spread of the pandemic disease. Such a factor is anticipated to drive the growth of the global cooking robot market over the forecast period. Additionally, other factors such as the increasing adoption of robots in several end user industries, along with the increasing food safety regulations worldwide are some of the additional factors anticipated to drive the growth of the global cooking robot market.
However, concerns for the high cost of cooking robots, which might not be possible for small food chain operators to deploy, is anticipated to restrict the growth of the global cooking robot market.
This report also provides the existing competitive scenario of some of the key players of the global cooking robot market, which includes company profiling of Miso Robotics, KUKA AG (ETR: KU2), Mechanical Chef, Admatic Solutions (RoboChef), Moley Robotics, Sereneti, UBTECH Robotics, Inc., Yaskawa America, Inc., Nymble and Suzhou Seton Home Automation Co., Ltd. (MegCook). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cooking robot market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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