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Global FoodTech Market is Anticipated to Grow at a CAGR of 8.91% over the Forecast Period (2021 To 2029)

Published On 21 Feb 2022 12:23 PM


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The demand for food-tech from the foodservice industry is expected to increase tremendously in the forthcoming years. The increasing expenditure of foodservice owners on adopting advanced technologies to attract a new consumer base, increase their market footprint, and reduce their serving time is expected to drive the segment growth. For instance, the U.S.-based company Orderscape offers restaurant voice bots that work with Amazon Alexa. Orderscape mixes its solution into the restaurant's existing digital order receiving devices such as point-of-sale devices, allowing convenient voice-based food ordering for all consumers. This surges brand approachability and lets restaurants convert local queries into actionable tasks. The increasing demand for such facilities in the foodservice sector is anticipated to drive the foodtech market growth. 

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The demand for food-tech solutions in food waste management is expected to increase in the forthcoming years. A major portion of the food produced globally is wasted. Thus, food entrepreneurs and large corporations now focus on reducing food wastage by adopting food-tech solutions to minimize environmental footprint and save costs. Moreover, food brands are reusing and upcycling food waste to generate value and increase their reach to consumers interested in sustainability. For instance, the usage of 3-dimensional food printing solutions can reduce food waste by using it to print edible food products. The advancement in the foodtech market and the willingness of food entrepreneurs to invest in such technologies are likely to have a positive impact on the market growth.

Food technology is gradually contributing towards food's journey from farm to fork. The food industry is a vital link in that process. Thus, the usage of new food-tech solutions is increasing among food entrepreneurs. Furthermore, the internationalization of supply chains and industrialization of production increase the complexity of production processes. The application of software and data technology in the food industry can help companies to fathom the increased complexity. The food processing and handling business is the most important business amongst the several manufacturing industries globally that subsidize the maximum employability. The human workforce plays an important role in the smooth implementation of the packaging and production of food products. Due to human interference, the food businesses fail to maintain the demand-supply chain and lack food safety. To overcome these issues of food industries, the demand for food technology solutions is rising within the industry. These factors are driving the foodtech market.

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Our 420+ pages research study on Global FoodTech Market will include extensive information on the following pointers:

  • Global Market size and forecast values (2015 – 2029), in terms of revenue (US$ Million) by segments/sub-segments; wherein 2015 to 2019 has been considered as historic years, 2020 as the base year, while 2021 to 2029 has been considered as the forecast period.
  • Split of the market revenue (US$ Million) into all the relevant segments & sub-segments across all major regions/countries.
  • Technological Trends
  • Macro-Economic and Micro-Economic Indicators
  • Market determinants and Influencing Factors
  • Market Dynamics (Drivers, Restraints, Opportunities and Challenges)
  • Global and Regional Impact of Covid-19 on Global FoodTech Market
  • Porter’s Five Forces Analysis
  • Competitive Benchmarking: Global Presence and Growth Strategies
    • Mergers and Acquisitions
    • R&D Initiatives
    • Product Launches
    • Investments Trends
  • Market Share Analysis, 2020
  • Detailed insights of major market participants operating in the market, including information on company details, company overview, product offerings, key developments, financial analysis, SWOT analysis and business strategies.
  • We have reports available in different languages including German, Russian, Korean, French, Chinese, Arabic, Spanish, Japanese and other languages.
  • We offer the feasibility of customizing the reports specific to regions which will cover exclusive insights on regions and its respective countries (namely North America, Europe, Asia Pacific, Middle East & Africa, Latin America)

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Competitor Insights

The key companies profiled in the foodtech market are mentioned below:

Global FoodTech Market

By Offering

  • Hardware
  • Software
  • Services

By Type

  • B2B
  • B2C

By Category

  • AgTech
  • Food Science
    • Meat Alternatives
    • Dairy Alternatives
    • Sugar Alternatives
    • Others
  • Food Processing, Storage and Packaging
  • Food Service (Restaurants and Institutional Catering)         
  • Food Delivery
  • Food Waste Solutions
  • Retail
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

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