Report Description

The global food tech market is anticipated to register an impressive CAGR during the forecast period. Food technology or online delivery platforms, as well as internet kitchens, are seeing prospects for expansion as a result of how local restaurant food is sourced and disseminated. Due to this development in food technology or online delivery platforms, there are several prospects for restaurants in the online meal ordering sector. The 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 is not a new trend, but there has been a growing emphasis on keeping up with its various aspects, such as labeling and traceability. The food business is experiencing a growing trend of rapid digitization, which has increased the importance of traceability and improved transparency throughout the supply chain. The necessity for better change monitoring and speedy decision-making to address issues like health concerns has increased due to the supply chain network's rapid expansion, which has sped up the adoption of blockchain technology. Additionally, food businesses must abide by the Food and Drug Administration (FDA) new rules regarding meat usage restrictions, shelf-life labeling, and the definition of healthy or natural food.

Innovative Offerings Fuels Market Growth

Companies are focusing on new technologies to provide convenience to consumers when ordering. For instance, Domino's Pizza, Inc. is an American pizza restaurant franchise with locations worldwide. In 2021, Domino's Pizza earned around USD4.36 billion in revenue globally. Domino's has incorporated cutting-edge delivery methods for its consumers over the years. The business uses advanced technologies, including voice automation, autonomous delivery, GPS driver tracking, and others. The company was able to position itself as a pioneer in the food technology sector due to advances in the technologies it employed. The corporation established a solid foothold in the industry owing to Domino's tracker, text and Twitter ordering, wristwatch ordering, and these other methods. Also, Delivery Hero SE is a worldwide European online meal delivery service that is based in Germany and serves customers in over 40 nations throughout Europe, Asia, Latin America, and the Middle East. Delivery Hero has broadened the scope of its services to include speedy commerce services that can complete minor orders in under an hour. Also, Delivery Hero raises sales by 52% year over year and makes progress toward profitability in the first quarter of 2022. The business advertises delivery services on its website or mobile app to make it simple and convenient for clients to find their favorite cuisine wherever they are.


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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 the major market players in global food tech market.

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.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the Global Food Tech Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  •   Food Tech Market, By Technology Type:
    • Mobile App
    • Website
  •   Food Tech Market, By Service Type:
    • Online Food Aggregators
    • Online Grocery Delivery
    • OTT & Convenience Services

·           Food Tech Market, By Region:

  • North America
    • The United States
    • Canada
    • Mexico
  • Europe
    • Russia
    • France
    • The United Kingdom
    • Italy
    • Spain
  • Asia-Pacific
    • China
    • India
    • Japan
    • Indonesia
    • Vietnam
  • Middle East & Africa
    • Saudi Arabia
    • Egypt
    • UAE
    • Turkey
  • South America
    • Brazil
    • Argentina
    • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global food tech market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Global Food Tech Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Service Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Sample Size Determination

4.2.  Respondent Demographics

4.2.1.     By Gender

4.2.2.     By Age

4.2.3.     By Occupation

4.3.  Brand Awareness

4.4.  Frequency of Usage

4.5.  Factors Influencing Purchase Decision

4.6.  Challenges Faced Post Purchase

5.    Global Food Tech Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value          

5.2.  Market Share & Forecast

5.2.1.     By Technology Type Market Share Analysis (Mobile App, Website)

5.2.2.     By Service Type Market Share Analysis (Online Food Aggregators, Online Grocery Delivery, OTT & Convenience Services)

5.2.3.     By Regional Market Share Analysis

5.2.3.1.         North America Market Analysis

5.2.3.2.         South America Market Analysis

5.2.3.3.         Middle East & Africa Market Analysis

5.2.3.4.         Europe Market Analysis

5.2.3.5.         Asia -Pacific Market Analysis

5.2.4.     By Company Market Share Analysis

5.3.  Global Food Tech Market Mapping & Opportunity Assessment

5.3.1.     By Technology Type Market Mapping & Opportunity Assessment

5.3.2.     By Service Type Market Mapping & Opportunity Assessment

5.3.3.     By Regional Market Mapping & Opportunity Assessment

6.    Asia-Pacific Food Tech Market Outlook

6.1.  Market Size & Forecast          

6.1.1.     By Value

6.2.  Market Share & Forecast

6.2.1.     By Technology Type Market Share Analysis

6.2.2.     By Service Type Market Share Analysis

6.2.3.     By Country

6.2.3.1.         China Food Tech Market Outlook

6.2.3.1.1.             Market Size & Forecast

6.2.3.1.1.1. By Value

6.2.3.1.2.             Market Share & Forecast

6.2.3.1.2.1. By Technology Type Market Share Analysis

6.2.3.1.2.2. By Service Type Market Share Analysis

6.2.3.2.         Japan Food Tech Market Outlook

6.2.3.2.1.             Market Size & Forecast

6.2.3.2.1.1. By Value

6.2.3.2.2.             Market Share & Forecast

6.2.3.2.2.1. By Technology Type Market Share Analysis

6.2.3.2.2.2. By Service Type Market Share Analysis

6.2.3.3.         India Food Tech Market Outlook

6.2.3.3.1.             Market Size & Forecast

6.2.3.3.1.1. By Value

6.2.3.3.2.             Market Share & Forecast

6.2.3.3.2.1. By Technology Type Market Share Analysis

6.2.3.3.2.2. By Service Type Market Share Analysis

6.2.3.4.         Indonesia Food Tech Market Outlook

6.2.3.4.1.             Market Size & Forecast

6.2.3.4.1.1. By Value

6.2.3.4.2.             Market Share & Forecast

6.2.3.4.2.1. By Technology Type Market Share Analysis

6.2.3.4.2.2. By Service Type Market Share Analysis

6.2.3.5.         Vietnam Food Tech Market Outlook

6.2.3.5.1.             Market Size & Forecast

6.2.3.5.1.1. By Value

6.2.3.5.2.             Market Share & Forecast

6.2.3.5.2.1. By Technology Type Market Share Analysis

6.2.3.5.2.2. By Service Type Market Share Analysis

7.    North America Food Tech Market Outlook

7.1.  Market Size & Forecast          

7.1.1.     By Value

7.2.  Market Share & Forecast

7.2.1.     By Technology Type Market Share Analysis

7.2.2.     By Service Type Market Share Analysis

7.2.3.     By Country

7.2.3.1.         United States Food Tech Market Outlook

7.2.3.1.1.             Market Size & Forecast

7.2.3.1.1.1. By Value

7.2.3.1.2.             Market Share & Forecast

7.2.3.1.2.1. By Technology Type Market Share Analysis

7.2.3.1.2.2. By Service Type Market Share Analysis

7.2.3.2.         Canada Food Tech Market Outlook

7.2.3.2.1.             Market Size & Forecast

7.2.3.2.1.1. By Value

7.2.3.2.2.             Market Share & Forecast

7.2.3.2.2.1. By Technology Type Market Share Analysis

7.2.3.2.2.2. By Service Type Market Share Analysis

7.2.3.3.         Mexico Food Tech Market Outlook

7.2.3.3.1.             Market Size & Forecast

7.2.3.3.1.1. By Value

7.2.3.3.2.             Market Share & Forecast

7.2.3.3.2.1. By Technology Type Market Share Analysis

7.2.3.3.2.2. By Service Type Market Share Analysis

8.    Europe Food Tech Market Outlook

8.1.  Market Size & Forecast          

8.1.1.     By Value

8.2.  Market Share & Forecast

8.2.1.     By Technology Type Market Share Analysis

8.2.2.     By Service Type Market Share Analysis

8.2.3.     By Country

8.2.3.1.         Russia Food Tech Market Outlook

8.2.3.1.1.             Market Size & Forecast

8.2.3.1.1.1. By Value

8.2.3.1.2.             Market Share & Forecast

8.2.3.1.2.1. By Technology Type Market Share Analysis

8.2.3.1.2.2. By Service Type Market Share Analysis

8.2.3.2.         Italy Food Tech Market Outlook

8.2.3.2.1.             Market Size & Forecast

8.2.3.2.1.1. By Value

8.2.3.2.2.             Market Share & Forecast

8.2.3.2.2.1. By Technology Type Market Share Analysis

8.2.3.2.2.2. By Service Type Market Share Analysis

8.2.3.3.         France Food Tech Market Outlook

8.2.3.3.1.             Market Size & Forecast

8.2.3.3.1.1. By Value

8.2.3.3.2.             Market Share & Forecast

8.2.3.3.2.1. By Technology Type Market Share Analysis

8.2.3.3.2.2. By Service Type Market Share Analysis

8.2.3.4.         Spain Food Tech Market Outlook

8.2.3.4.1.             Market Size & Forecast

8.2.3.4.1.1. By Value

8.2.3.4.2.             Market Share & Forecast

8.2.3.4.2.1. By Technology Type Market Share Analysis

8.2.3.4.2.2. By Service Type Market Share Analysis

8.2.3.5.         United Kingdom Food Tech Market Outlook

8.2.3.5.1.             Market Size & Forecast

8.2.3.5.1.1. By Value

8.2.3.5.2.             Market Share & Forecast

8.2.3.5.2.1. By Technology Type Market Share Analysis

8.2.3.5.2.2. By Service Type Market Share Analysis

9.    Middle East & Africa Food Tech Market Outlook

9.1.  Market Size & Forecast          

9.1.1.     By Value

9.2.  Market Share & Forecast

9.2.1.     By Technology Type Market Share Analysis

9.2.2.     By Service Type Market Share Analysis

9.2.3.     By Country

9.2.3.1.         Saudi Arabia Food Tech Market Outlook

9.2.3.1.1.             Market Size & Forecast

9.2.3.1.1.1. By Value

9.2.3.1.2.             Market Share & Forecast

9.2.3.1.2.1. By Technology Type Market Share Analysis

9.2.3.1.2.2. By Service Type Market Share Analysis

9.2.3.2.         Egypt Food Tech Market Outlook

9.2.3.2.1.             Market Size & Forecast

9.2.3.2.1.1. By Value

9.2.3.2.2.             Market Share & Forecast

9.2.3.2.2.1. By Technology Type Market Share Analysis

9.2.3.2.2.2. By Service Type Market Share Analysis

9.2.3.3.         UAE Food Tech Market Outlook

9.2.3.3.1.             Market Size & Forecast

9.2.3.3.1.1. By Value

9.2.3.3.2.             Market Share & Forecast

9.2.3.3.2.1. By Technology Type Market Share Analysis

9.2.3.3.2.2. By Service Type Market Share Analysis

9.2.3.4.         Turkey Food Tech Market Outlook

9.2.3.4.1.             Market Size & Forecast

9.2.3.4.1.1. By Value

9.2.3.4.2.             Market Share & Forecast

9.2.3.4.2.1. By Technology Type Market Share Analysis

9.2.3.4.2.2. By Service Type Market Share Analysis

10.  South America Food Tech Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value

10.2.              Market Share & Forecast

10.2.1.  By Technology Type Market Share Analysis

10.2.2.  By Service Type Market Share Analysis

10.2.3.  By Country

10.2.3.1.      Brazil Food Tech Market Outlook

10.2.3.1.1.           Market Size & Forecast

10.2.3.1.1.1.               By Value

10.2.3.1.2.           Market Share & Forecast

10.2.3.1.2.1.               By Technology Type Market Share Analysis

10.2.3.1.2.2.               By Service Type Market Share Analysis

10.2.3.2.      Argentina Food Tech Market Outlook

10.2.3.2.1.           Market Size & Forecast

10.2.3.2.1.1.               By Value

10.2.3.2.2.           Market Share & Forecast

10.2.3.2.2.1.               By Technology Type Market Share Analysis

10.2.3.2.2.2.               By Service Type Market Share Analysis

10.2.3.3.      Colombia Food Tech Market Outlook

10.2.3.3.1.           Market Size & Forecast

10.2.3.3.1.1.               By Value

10.2.3.3.2.           Market Share & Forecast

10.2.3.3.2.1.               By Technology Type Market Share Analysis

10.2.3.3.2.2.               By Service Type Market Share Analysis

11.  Market Dynamics

11.1.              Drivers

11.1.1.  Increasing Internet Penetration

11.1.2.  Focuses on Food Safety

11.1.3.  Innovative Offerings

11.2.              Challenges

11.2.1.  Delivery Fees

11.2.2.  Long Delivery Period

11.2.3.  Low Quality of Packaged Food

12.  Impact of COVID-19 on Global Food Tech Market

12.1.              Impact Assessment Model       

12.1.1.  Key Segments Impacted

12.1.2.  Key Regions Impacted

12.1.3.  Key Countries Impacted

12.1.4.  Key Distribution Channel Impacted

13.  Market Trends & Developments

13.1.              Expanding Food Delivery Services

13.2.              Multiple Payment Options

13.3.              Consumer Preference for Healthier Food

13.4.              Adopting Buy Now Pay Later Model

13.5.              Increased Demand from Middle East & African Countries

14.  SWOT Analysis

14.1.              Strengths

14.2.              Weaknesses

14.3.              Opportunities

14.4.              Threats

15.  Porter’s Five Forces Model

15.1.              Competition Landscape

15.2.              Buyer Power

15.3.              Supplier Power

15.4.              Threat of New Entrants

15.5.              Threat of Substitutes

16.  Competitive Landscape

16.1.              Competition Outlook

16.2.              Company Profiles

16.2.1.  Foodpanda

16.2.1.1.      Company Details

16.2.1.2.      Products & Services

16.2.1.3.      Financials (As Reported)

16.2.1.4.      Key Market Focus & Geographical Presence

16.2.1.5.      Recent Developments

16.2.1.6.      Key Management Personnel

16.2.2.  Domino’s Pizza Inc.

16.2.2.1.      Company Details

16.2.2.2.      Products & Services

16.2.2.3.      Financials (As Reported)

16.2.2.4.      Key Market Focus & Geographical Presence

16.2.2.5.      Recent Developments

16.2.2.6.      Key Management Personnel

16.2.3.  Doordash Inc.

16.2.3.1.      Company Details

16.2.3.2.      Products & Services

16.2.3.3.      Financials (As Reported)

16.2.3.4.      Key Market Focus & Geographical Presence

16.2.3.5.      Recent Developments

16.2.3.6.      Key Management Personnel

16.2.4.  Grubhub Holdings Inc.

16.2.4.1.      Company Details

16.2.4.2.      Products & Services

16.2.4.3.      Financials (As Reported)

16.2.4.4.      Key Market Focus & Geographical Presence

16.2.4.5.      Recent Developments

16.2.4.6.      Key Management Personnel

16.2.5.  Goodr, Inc.

16.2.5.1.      Company Details

16.2.5.2.      Products & Services

16.2.5.3.      Financials (As Reported)

16.2.5.4.      Key Market Focus & Geographical Presence

16.2.5.5.      Recent Developments

16.2.5.6.      Key Management Personnel

16.2.6.  McDonald’s Corporation

16.2.6.1.      Company Details

16.2.6.2.      Products & Services

16.2.6.3.      Financials (As Reported)

16.2.6.4.      Key Market Focus & Geographical Presence

16.2.6.5.      Recent Developments

16.2.6.6.      Key Management Personnel

16.2.7.  Pizza Hut International

16.2.7.1.      Company Details

16.2.7.2.      Products & Services

16.2.7.3.      Financials (As Reported)

16.2.7.4.      Key Market Focus & Geographical Presence

16.2.7.5.      Recent Developments

16.2.7.6.      Key Management Personnel

16.2.8.  Zomato Limited

16.2.8.1.      Company Details

16.2.8.2.      Products & Services

16.2.8.3.      Financials (As Reported)

16.2.8.4.      Key Market Focus & Geographical Presence

16.2.8.5.      Recent Developments

16.2.8.6.      Key Management Personnel

16.2.9.  Delivery Hero Holding GmbH

16.2.9.1.      Company Details

16.2.9.2.      Products & Services

16.2.9.3.      Financials (As Reported)

16.2.9.4.      Key Market Focus & Geographical Presence

16.2.9.5.      Recent Developments

16.2.9.6.      Key Management Personnel

16.2.10.                Roofoods Ltd

16.2.10.1.    Company Details

16.2.10.2.    Products & Services

16.2.10.3.    Financials (As Reported)

16.2.10.4.    Key Market Focus & Geographical Presence

16.2.10.5.    Recent Developments

16.2.10.6.    Key Management Personnel

17.  Strategic Recommendations/Action Plan

17.1.              Key Focus Areas

17.2.              Target Regions

17.3.              Target Technology Type

17.4.              Target Service Type

18.  About Us & Disclaimer

 

                                                                                                                                                   (Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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Introducing new technology, such as mobile app-based services, is changing how the food business functions and spawning a new digital sector called food tech.

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Individualized diets, vegetable proteins and synthetic meat, upcycling and snacking, traceability of food, and restaurants that use automation are examples of the food tech market.

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Consumers now have quick access to high-quality, wholesome food owing to startups in the food technology sector. Additionally, enterprises will be able to produce and sell food of all kinds at a lower cost and with greater profitability.

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Food technology is expanding food production to feed the globe and slow the rate of hunger. Utilizing digital and cutting-edge technologies, agriculture is becoming more automated in order to generate food and raw resources.

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Parvati Sharma

Account Manager BD
Press Release

Food Tech Market to be Dominated by North America During the Forecast Period

Nov, 2022

The increasing use of smartphones, increasing internet users, and the growth of mobile applications regarding food & services are the factors driving the global food tech market.