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The Digital Food Management Solutions Market size is estimated to grow at a CAGR of 16.58% between 2022 and 2027. The market size is forecast to increase by USD 2,999.55 million. The growth of the market depends on several factors, including rising demand for efficient food management systems, rising adoption of digital technologies and IoT in the food industry, and growing demand for food safety and traceability. Digital food management solutions refer to software or technological solutions that help in managing various aspects of the food industry's digital platforms, such as web and mobile applications, to streamline operations, improve efficiency, and enhance the overall experience for both businesses and customers in the food industry.
This digital food management solutions market report extensively covers market segmentation by application (food safety, marketing, and others), end-user (restaurants, convenience stores, institutional kitchens, catering, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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One of the key factors driving the market growth is the growing demand for food safety and traceability. There has been an increasing demand for food safety and traceability in the global digital food management solutions market due to factors, including an increase in foodborne illnesses, consumer demand for transparency in the food supply chain, and the implementation of stricter regulations by government agencies. Additionally, the rise in foodborne illnesses is also fuelling the demand.
Moreover, there have been numerous cases of foodborne outbreaks over the years, leading to serious health consequences for consumers. As a result, there is an increasing focus on implementing measures to ensure the safety of food products due to the concerns regarding the safety of the food supply chain which is positively impacting the market. Hence, such factors are expected to drive market growth during the forecast period.
A key factor shaping the digital food management solutions market growth is the rise in the adoption of cloud-based solutions. There has been an increase in the adoption of cloud-based solutions in the global digital food management solutions market due to the various benefits that cloud-based solutions offer to businesses in this industry. Scalability is one of the main advantages offered by cloud-based solutions.
Moreover, the scalability of cloud-based solutions enables businesses to easily scale up or down their operations as per their requirements as well as makes them flexible to evolving consumer demands and market conditions, ensuring that they can efficiently manage their food-related operations. Cost-effectiveness is another main advantage of cloud-based solutions as it eliminates the cost of n hardware, infrastructure, and maintenance by adopting a pay-as-you-go model. Hence, such factors are expected to drive market growth during the forecast period.
High maintenance costs of digital systems are one of the key challenges hindering the digital food management solutions market growth. The rapid advancement and innovation in digital technology is one of the main factors fuelling the high maintenance costs. Additionally, businesses often find themselves required to upgrade their digital systems as new features and capabilities are introduced to stay competitive in competitive.
However, these upgrades come at a price, especially in terms of financial requirements and the resources required to implement such degradation. Thus, it becomes hard for businesses without sufficient funds to upgrade their digital solutions which is negatively impacting the market. Hence, such factors are expected to hinder market growth during the forecast period.
The food safety segment is estimated to witness significant growth during the forecast period. Some of the main factors which are significantly contributing to the growth of the food safety segment are the increasing concerns about foodborne illnesses and growing government regulations to ensure food safety. Food safety is an essential aspect of the food industry, and with the advancements in technology, digital solutions are being developed to improve food safety practices.
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The food safety segment was the largest segment and was valued at USD 677.60 million in 2017. Some of the main advantages of digital food management solutions include innovative tools and techniques to prevent food contamination, track food ingredients, and monitor food storage and transportation conditions. Furthermore, this solution allows real-time monitoring of food safety parameters, including temperature, humidity, and cleanliness, throughout the supply chain. Additionally, digital food management solutions enhance the traceability of food products and enable prompt detection and response to potential food safety issues by offering real-time data and analytics. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
The increasing demand for efficient order management in the restaurant segment drives the market growth during the forecast period. There is a growing popularity of online food delivery platforms among the restaurant segment with the advancement of technology and it enables them to streamline their operations, improve customer experience, and boost their revenue. Furthermore, there is a growing demand for r efficient order management which fuels the demand for these solutions as it offers numerous features including online ordering, order tracking, and real-time inventory management. Additionally, it enables restaurants to receive and process orders in a timely manner, reducing the risk of errors and missed orders. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the market growth during the forecast period.
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North America is estimated to contribute 48% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the main factors which are significantly contributing to the growth of the digital food management solutions market in North America is due to the rapid growth in the usage and adoption of digital tools and technologies across different industries, including the food and beverage sector.
Furthermore, North America is a hub for companies offering innovative solutions for managing food processes digitally. Additionally, the increasing demand for efficiency and convenience in the food industry is fuelling the demand for the digital food management solutions market in North America. Furthermore, there is an increasing shift in preference among consumers in adopting digital platforms for their food management requirements including ordering food online, tracking deliveries, and managing their dietary preferences. Hence, such factors are expected to drive market growth in the region during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global digital food management solutions market witnessed a significant slowdown due to the temporary closure of restaurants, convenience stores, institution kitchens, and others in North America. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in restaurants and other business units. Such factors are expected to drive the market during the forecast period.
The digital food management solutions market industry report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Digital Food Management Solutions Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The digital food management solutions market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Digital Food Management Solutions Market Scope |
|
Report Coverage |
Details |
Page number |
173 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 16.58% |
Market growth 2023-2027 |
USD 2,999.55 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
15.58 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 48% |
Key countries |
US, China, Germany, France, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
365 RM UK Ltd., Agilysys Inc., Apicbase NV, Booking Holdings Inc., Chetu Inc., FlexiBake Ltd., iNECTA LLC, JAMIX Oy, jiWebTech Technologies LLP, Kellton Tech Solutions Ltd., Kitchen Brains, Omega Softwares, Oracle Corp., Roper Technologies Inc., SmartSuite Holdings LLC, SweetWARE, Toast Inc., TouchBistro Inc., Vision Software Technologies Inc., and Zoho Corp. Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
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