The Global Food Tech Market Size and Revenue Forecasts to 2027
The report on the Global Food Tech Market initially offers an in-depth overview of the Food Tech Market along with insights into the developments and advancements in the sector. The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects. The research study also provides a complete analysis of the market drivers, restraints, limitations, threats, risks, and growth opportunities.
This growth can be attributed to increasing adoption of advanced technologies in food processing techniques for improving food safety and efficiency of production processes. Food processing companies are increasingly investing in adoption and deployment of robotics and automation across processes in the food industry. This is resulting in more hygienic processes, faster production, and higher capacity output. In addition, increasing availability of fresh products and improved visibility through online channels, is resulting is rising demand and consumption, which is driving growth of the food tech market. Food industries are investing significantly in automation and digitalization in order to meet growing demand for food due to the rapid population growth.
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Key Highlights and Developments Included in the Report
- In May 2020, Amazon announced that it is starting to offer online food delivery service named Amazon food in Bengaluru, India. The strategy is expected to strengthen the company’s position in the online food delivery market, and will enable the company to compete with established players such as Zomato and Swiggy.
- The websites segment accounted for largest market share of 57.1% in 2019. Increasing demand for quick and convenient food and grocery delivery, with the availability of cash-on-delivery and advanced online payment options, are driving growth of such websites, thereby supporting the growing trend of ordering food online from various food chains.
- Online grocery delivery segment revenue is expected to expand at a rapid CAGR of 6.8% during the forecast period. The wide availability of online grocery shopping websites and shifting consumer preferences for online shopping platforms due to COVID-19 pandemic has been driving an increase in online grocery delivery in recent times.
- The meat segment accounted for a significantly high revenue share in the food tech market in 2019. Rising demand for healthier, cheaper, and safer meat products is driving demand for online purchase of meat products, thus driving further growth of online grocery shopping channels.
The key players profiled in the report are Amazon, Apeel Sciences, McCormick Company, Delivery Hero, DoorDash, Domino’s Pizza Inc., Goodr, Pizza Hut International, McDonald’s Corporation and Grubhub.
Global Food Tech Market Segmentation based on Product Types and Application Spectrum:
Emergen Research has segmented the global food tech market on the basis of technology type, service type, product type, and region:
Technology type Outlook (Revenue, USD Billion; 2020–2027)
- Mobile App
- Websites
Service type Outlook (Revenue, USD Billion; 2020–2027)
- Online Food delivery
- Online Grocery delivery
- OTT Convenience Services
Product type Outlook (Revenue, USD Billion; 2020–2027)
- Meat
- Fruit and Vegetables
- Fish
- Bread and Cereals
- Dairy
- Other food products
Regional Analysis of the Food Tech Market Includes:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The report provides an extensive forecast of the industry and its significant growth in the forecast years. The report provides important information regarding the sales volume, revenue forecast, market size, market share, and current and emerging market trends. Along with this, the report covers SWOT analysis, Porter’s Five Forces analysis, Feasibility analysis, and investment return analysis.
Key Benefits of Buying the Global Food Tech Report:
- Comprehensive analysis of the changing competitive landscape
- Assists in decision making processes for the businesses along with detailed strategic planning methodologies
- The report offers an 8-year forecast and assessment of the Global Food Tech Market
- Helps in understanding the key product segments and their estimated growth rate
- In-depth analysis of market drivers, restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Food Tech Market
- Extensive profiling of the key stakeholders of the business sphere
- Detailed analysis of the factors influencing the growth of the Global Food Tech Market
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