Food Tech Market– Global Industry Size, Share, Trends, Competition Forecast and Opportunities, 2024-2032F,Segmented By Technology Type (Mobile App, Website), By Service Type (Online Food Aggregators, Online Grocery Delivery, OTT & Convenience Services), By Region
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Consumer Goods and Retail | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationThe global online food delivery market size was estimated at USD 189.70 billion in 2021.
Today's consumers prefer placing their orders for their favorite meals through online platforms, which offer a limitless selection of eateries. Additionally, customers can choose, customize, and order food from restaurants based on ratings and reviews.
The food technology market is expanding more quickly because of the increased accessibility of online food delivery platforms. Due to the rise in smartphone and internet usage, food technology web platforms are becoming increasingly popular with consumers.
These platforms for food technology assist restaurants in expanding their consumer base, increasing revenue, and better utilizing their resources. The listing platform for food technology aids restaurants in spreading the word about their enterprise. Due to their high standard of living and changing way of life, customers rely heavily on services that save them time while also providing convenience.
Food delivery trends have undergone a significant transformation, notably in the manner that many chains of restaurants and restaurants generate revenue. An emerging way to make money is to advertise food technology apps like those for online grocery shopping and online food ordering.
The food technology businesses provide restaurants with high consumer traffic in exchange for a transaction charge when customers use the restaurants' applications to order meals online. This helps the food technology companies raise their revenue.
Increasing Internet Penetration Fuels the Market Growth
The market for food technology is expanding primarily because of the increased use of smartphones and internet penetration. Around 69% of the world's population, or 4.9 billion people, are active on the internet as of 2022. Additionally, culinary technologies are employed as platforms for online meal delivery, which aid eateries in expanding their clientele and generating more revenue. This is one thing causing the food technology market to grow.
Focus on Food Safety Propels the Market Growth
Food safety? It's not exactly new, but lately, there's been a bigger push to stay on top of things like proper labeling and traceability. You see, the food business is going digital fast, making it even more important to know where everything comes from. This also makes the whole process way more transparent! And because the supply chain is getting so huge, we need to be able to keep a closer eye on changes and make decisions quickly when things like, say, a health scare pop up. That's helped push the adoption of blockchain technology, too. Oh, and let's not forget that food companies have to follow the FDA's new rules, especially when it comes to things like meat restrictions, shelf-life labeling, and what we actually mean by "healthy" or "natural" food.
Innovative Offerings Fuels Market Growth
Companies are really stepping up their game, using cool new tech to make ordering stuff super easy for us! Take Domino's Pizza, Inc., that American pizza place you see everywhere. They raked in about USD4.36 billion globally in 2021! Over the years, they've been all about using the latest in delivery – think voice automation, robots doing deliveries, and even GPS tracking so you can stalk your driver (just kidding... mostly!). Because they've embraced these techy advancements, they've really become a leader in food tech. Things like Domino's Tracker, ordering via text, Twitter, or even your wristwatch have helped them get a strong grip on the market. And then there's Delivery Hero SE, a German-based online delivery service that's all over Europe, Asia, Latin America, and the Middle East. They're not just about meals anymore; they're offering quick commerce too, getting small orders to you in under an hour! They're also seeing a big boost in sales – up 52% from last year – and heading towards being profitable in early 2022. To make things easy, they show off their delivery services on their website or mobile app, so finding your favorite grub is a breeze, no matter where you are.
Market Segmentation
The global food tech market is segmented into technology type, service type, and region. Based on technology, the market is segmented into mobile apps and websites. Based on service type, the market is segmented into online food aggregators, online grocery delivery, OTT & convenience services.
Company Profile
Foodpanda, Domino’s Pizza Inc., Doordash Inc., Grubhub Holdings Inc., Goodr, Inc., McDonald’s Corporation, Pizza Hut International, Zomato Limited, Delivery Hero Holding GmbH, Inc., Roofoods Ltd are
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | · Technology Type · Service Type |
| Regional Scope | North America, Europe, Asia-Pacific, Middle East & Africa, and South America |
| Country Scope | United States, Canada, Mexico, China, Japan, India, Indonesia, Vietnam, Russia, Italy, France, Spain, United Kingdom, Saudi Arabia, Egypt, UAE, Turkey, Brazil, Argentina; Colombia |
| Key Companies Profiled | Foodpanda, Domino’s Pizza Inc., Doordash Inc., Grubhub Holdings Inc., Goodr, Inc., McDonald’s Corporation, Pizza Hut International, Zomato Limited, Delivery Hero Holding GmbH, Inc., Roofoods Ltd, etc. |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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