The online ordering ecosystem has been supportive in addressing the time constraint issues of the global population through timely, quick and convenient food and grocery delivery. The global food tech market is expected to grow at a CAGR of 5.8% through 2015 to 2022. Development in the market is accredited to the rapid adoption of e-commerce, growing internet and smartphone penetration, and ease of placing orders among others.
The report is a compilation of the different segments of global food tech market, including market breakdown by the service type, technology type, and different geographical areas. Herein the revenue generated from the service type, namely: online grocery delivery, food aggregators, & OTT & convenience services; and technology type, namely: websites and mobile apps is tracked to calculate the overall market size. While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the food tech market. It also includes the key participants involved in the industry at the relevant sections.
The report answers the following questions about the global food tech market:
- What are the different factors driving the market and how will the impact change through the forecast period?
- What are the major factors challenging the growth of global food tech market and how can they be addressed through the forecast period?
- How will the market players leverage on key developments such as acquisitions, partnerships, and product launch among others?
- Which region will lead the global food tech market by the end of the forecast period?
- What are the prevalent service types and what is the market size for each of them?
- What are the prevalent technology types and what is the market size for each of them?
- How will the competitive rivalry evolve through the forecast period?
The report puts special emphasis on the market share of the services provided in food tech market, owing to the changing paradigms in the industry. In spite of this, due to the numerous instances of failed business models and financial pressure, a majority of potential new entrants resist from adopting food tech services. The report further includes a thorough analysis of the impact of the five major forces to understand the overall attractiveness of the industry. This segment also focuses on the investments done in the food tech market by the market participants.
The most often used strategy for developing a better hold on to the market has been through partnerships & collaborations, followed by product launches. Moreover, the company profile section highlights significant information about the key companies involved along with their financial positions, key strategies & developmental activities of recent years.
Further, the report includes an exhaustive analysis of the geographical split into North America, Europe, Asia-Pacific (APAC), and Rest of the World (RoW). Each geography details the individual push and pull forces in addition to the key players from that region. The prominent players operating and profiled in the global food tech market are GrubHub Inc., Domino’s Pizza Inc., Tesco PLC, Sainsbury Inc., and Pizza Hut International among others.