Food Tech Market Trends, Revenue, Key Players, Growth, Share and Forecast Till 2027
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. The report sheds light on the mergers and acquisitions, collaborations, joint ventures, brand promotions and product launches, agreements and partnerships, and corporate and government deals. Moreover, the adverse effects of the coronavirus pandemic on the global Food Tech market, as well as its fundamental segments, have also been elucidated in this report. The pandemic has led to some devastating effects on the global economy, besides disrupting the functioning of the Food Tech industry.
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The latest research report by Emergen research, named ‘Global Food Tech Market – Forecast to 2027’, entails a comprehensive review of the global Food Tech market’s present and future trends. The report additionally sheds light on the emerging growth opportunities in the business sphere that are anticipated to bolster the growth of the market. A clear outline of the competitive landscape of the market is expected to help businesses involved in this sector decipher the optimal business moves to reach their desired business goals. The Global Food Tech Market Report offers extensive knowledge and information about the Food Tech market pertaining to market size, market share, growth influencing factors, opportunities, and current and emerging trends. These facts and figures help readers evaluate the global market growth, production, and consumption rates, volatility in demand and product prices, and upcoming market trends over the projected period.
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.
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
The report aims to deliver a comprehensive understanding of the Food Tech market growth and expansion in each key region of the world. It offers accurate estimations about the expected market size and growth over the projected timeline of 2020-2027.
Key Geographies Profiled in the Report:
- North America(the U.S., Mexico, and Canada)
- Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
- Europe(the U.K., France, Germany, and Rest of Europe)
- Latin America(Brazil and Rest of Latin America)
- Middle East & Africa(GCC Countries and Rest of Middle East & Africa)
Additionally, the report provides an extensive analysis of the Food Tech market, including key data, such as factors influencing the growth of the market, buyers and vendors, production and consumption, and revenue. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence. Furthermore, the report provides a comprehensive overview of the Food Tech market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns.
To learn more details about the Global Food Tech Market report, visit @ https://www.emergenresearch.com/industry-report/food-tech-market
- The report scrutinizes the salient factors influencing the growth of the market in the near future.
- Besides offering a vivid depiction of the global Food Tech business sphere and its fundamental operations, the latest report provides the industrial chain analysis and list down the current and future market trends and growth opportunities.
- The report sheds light on the prominent market contenders, as well as their business strategies and long-term expansion plans.
- The report includes information on the present and historical market scenarios, which helps forecast the market conditions over the next eight years (2020-2027).
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