Global Food Technology Market Size & Share to 2027
Global Food Technology Market Size, Trends & Growth Opportunity By Service Type (Online Grocery Delivery, Online Food Aggregator, OTT & Convenience Services), Technology Type (Website, Mobile Apps), Region and Forecast till 2027
Global Food Technology Market
The food technology is defined as the emerging sector which explores advanced technology that can be leveraged to create sustainability, and efficiency in producing, designing, choosing, and delivering food. The increase in adoption of online delivering platforms across the globe is expected to drive the global food technology market growth. Also, change in lifestyle, and high standard of living will support the market growth.
Market Drivers
The rise in penetration of the internet as well as smart phone is the key driving factor which is expected to boost the global food technology market growth. Also, the rise in use of online food delivery platforms which help restaurants in increasing their customer reach and to generate additional income which will significantly drive the food technology market across the globe. Furthermore, the growing working population, and inflating income levels, is fuelling the market growth over the forecast period. Moreover, the rise in the trend of the on-the-go food items and quick home delivery models which offer convenience, ready-to-eat and cheaper food delivery options will positively influence the market growth.
Market Restraints
Huge initial investment is the major restraint which expected to hamper the global food technology market growth during this forecast timeline.
Market Segmentation
The Global Food Technology Market is segmented into service type such as Online Grocery Delivery, Online Food Aggregator, and OTT & Convenience Services. Further, market is segmented into technology type such as Website, and Mobile Apps.
Also, Global Food Technology Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Some key players are profiled in this report such as Food Panda, Uber, Deliveroo, Zomato, Tesco PLC, Sainsbury, Grub Hub Inc., Delivery Hero Holding GmbH, Domino’s Pizza Ince,and McDonald's Corporation.
Market Taxonomy
By Service Type
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