The global B2B food marketplace platforms market is expected to grow from US$ 22728.6 million in 2021 to US$ 71628.0 million by 2028; it is estimated to grow at a CAGR of 17.8% from 2021 to 2028.
The B2B food marketplace platforms connect buyers and sellers across the world. The sellers at these platforms can be producers or vendors, and the buyers are retailers, vendors, and food service industry players such restaurants, hotels, and canteens. Processed as well as unprocessed foods are traded on these platforms.
The B2B food marketplace platforms market is experiencing significant growth owing to the proliferation of smartphones and tablets, which facilitates better communication between SME’S and buyers. Moreover, contractual pricing of the products is further fuelling the growth of the market. Further, increasing adoption of packaged food products and growing food service industry owing to rising disposable income and inclination toward modern lifestyle is further propelling the adoption of B2B food marketplace platforms. Additionally, growing offshore renewable industry is among the other factors complementing the market growth. Moreover, the COVID-19 outbreak has positively impacted to the growth of the market as buyers and sellers are opting digital solution for conducting business operations.
Impact of COVID-19 Pandemic on B2B Food Marketplace Platforms Market
The B2B food marketplace platform market players also experienced a slowdown in the volumes attributing to the fact that the production units were operating with a limited workforce. This has had a negative impact on the truck refrigeration market. The food & beverages industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, shutdown of production plants, etc., because of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South and Central America, and the Middle East, and Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. All these factors are anticipated to affect the food & beverages industries in an adverse manner and thus act as restraining factor for the growth of B2B food marketplace platform markets in the coming months.
The overall B2B food marketplace platform market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the B2B food marketplace platform market with respect to all the segments. It also provides the overview and forecast for the global B2B food marketplace platform market based on all the segmentation provided with respect to five major regions?North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data and gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the B2B food marketplace platform market. Major players operating in the global B2B food marketplace platform market include eFoodChoice.com; Mindcurv GmbH; GUSTO MARKETPLACE; Jumbotail Technologies Pvt. Ltd.; Agorara; Ukrainian Food Platform; FoodMaven; Telio Vietnam Co., Ltd; FoodB2BMarketplace.com; FOOD FOR SALE; FoodsTrade; and BioLinked.