The global food tech market is expected to reach a value of USD 342.52 Billion by 2027, according to recent analysis by Emergen Research. 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.
The report elaborates on a wide array of market aspects, including import & export, production and consumption rates, manufacturing processes, cost structures, sales network & distribution channels, and consumer bases in the key geographies. Authors of the report have also undertaken a far-reaching study of the present market scenario, coupled with a detailed analysis of significant factors like market size, share, and future growth rate.
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Some 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.
- 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.
- Key players in the market include Amazon, Apeel Sciences, McCormick & Company, Delivery Hero, DoorDash, Domino’s Pizza Inc., Goodr, Pizza Hut International, McDonald’s Corporation and Grubhub.
Food Tech Market Segmentation:
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
- 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)
- Fruit and Vegetables
- Bread and Cereals
- Other food products
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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Key points covered in the report:
- The report provides the reader with a detailed study of the global Food Tech market, including essential data beneficial for business.
- The prominent factors driving and restraining market growth, latest product trends, and technological advancements have been extensively discussed by the authors of the report.
- A broad market categorization, based on product type, application gamut, and end-user landscape, has been included in the report.
- It further entails the latest product development, incorporation of new techniques, and profiles of major competitors in the market.
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Food Tech Market Segmentation & Impact Analysis
4.1. Food Tech Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
22.214.171.124. Increasing demand for quick and convenient food and grocery delivery
126.96.36.199. Increasing adoption of eCommerce channels
188.8.131.52. Robotisation of the production processes
4.2.3. Market restraints analysis
184.108.40.206. Intense competitiveness among the food-tech startups in developing economies
220.127.116.11. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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