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November 11, 2021updated 31 Mar 2022 7:47pm

Revealed: The food companies leading the way in artificial intelligence

Food companies are keen to show off their AI prowess but which are driving their industries forward through the use of this technology?

By Data Journalism Team

Unilever and Lindt & Sprungli are among the companies in the food industry best positioned to take advantage of developments in artificial intelligence, our analysis shows.

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

The assessment comes from GlobalData’s Thematic Research, which ranks companies on a scale of one to five based on their likelihood to tackle challenges like artificial intelligence and emerge as long-term winners of the food sector.

According to our analysis, Unilever, Lindt and Japan-based snacks group Calbee feature in the list of companies best positioned to benefit from investments in artificial intelligence, all of them recording scores of five out of five. Food-ingredients suppliers Firmenich, Givaudan and Symrise also score highly.

Unilever indicated good levels of investment in AI, with the company looking for 323 new jobs in the field since October 2020, for example.

The table below shows how GlobalData analysts scored the biggest companies among packaged food and food ingredients manufacturers on their AI performance, as well as the number of new artificial intelligence-related jobs, deals, patents and mentions in company reports since October 2020.

The final column in the table represents the overall score given to that company when it comes to their current artificial intelligence position relative to their peers. A score of five indicates that a company is a dominant player in this space, while companies that score less than three are vulnerable to being left behind. These can be read fairly straightforwardly.

The other datapoints in the table are more nuanced, showcasing recent artificial intelligence investment across a range of areas over the past year. These metrics give an indication of whether artificial intelligence is at the top of executives’ minds at the moment but high numbers in these fields are just as likely to represent attempts to catch up as they are a genuine strength in artificial intelligence.

For example, a high number of mentions of artificial intelligence in quarterly company filings could indicate either the company is reaping the rewards of previous investments, or that it needs to invest more to catch up with the rest of the industry. Similarly, a high number of deals could indicate that a company is dominating the market, or that it is using mergers and acquisitions to fill in gaps in its offering.

This article is based on GlobalData research figures as of 10 November 2021. For more up-to-date figures, check the GlobalData website.

Related Companies

Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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