Increasing Demand for Food and Emergence of Covid-19 to Augment Growth of Food and Beverage Robotic System Integration Market
Increa sing demand for food is expected to propel growth of the food and beverage robotic system integration market. For instance, according to Food and Agriculture Organization, worldwide food demand is expected to increase by 70% by 2050. Moreover, increasing labor cost is also expected to aid in growth of the market. For instance, according to Eurostat press release in April 2019, in 2018, hourly labor costs in the whole economy expressed in € rose by 2.7% in the EU and by 2.2% in the euro area compared to 2017, with Latvia (+12.9%), Lithuania (+10.4%), Estonia, and Slovakia (both +6.8%) witnessing the highest increase. Emergence of Covid-19 is expected to offer lucrative growth opportunities for players in the global food and beverage robotic system integration market . According to the World Health Organization, globally, as of 5:01pm CET, 11 February 2021, there have been 106,991,090 confirmed cases of COVID-19, including 2,347,015 deaths. Such scenario has led to...