The global B2B food industry size is expected to grow from USD 29.32 billion in 2022 to USD 78.98 billion by 2028; it is expected to grow at a CAGR of 18% from 2022 to 2028.
New York, Feb. 13, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “ B2B Food Marketplace Platform Market Size, Share, Growth, Trends and Global Forecast to 2028 - COVID-19 Impact and Global Analysis by Offering (Chilled & Dairy, Grocery, Beverages, and Others) and Enterprise Size (Small and Medium Enterprises and Large Enterprises)” The global B2B food marketplace platform market growth is driven by increasing adoption of e-commerce platforms, innovations in product selling models and better communications between SMEs and buyers due to smartphones and tablets.
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Global B2B Food Marketplace Platform Market – Report Scope:
|Market Size Value in||USD 29.32 Billion in 2022|
|Market Size Value by||USD 78.98 Billion by 2028|
|Growth rate||CAGR of 18% from 2022 to 2028|
|No. of Pages||163|
|No. of Tables||73|
|No. of Charts & Figures||79|
|Historical data available||Yes|
|Segments covered||Offering, and Enterprise Size|
Global B2B Food Marketplace Platform Market: Competitive Landscape and Key Developments
FoodMaven, Amazon, eFoodChoice.com, Cheetah technologies Inc., Eworldtrade.com, FoodsTrade, Ufoodin, Pod foods Co., Emerge Srl, and Notch are the leading players profiled in the B2B food marketplace platform market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help key players strategize their growth. A few developments are mentioned below:
In 2022 , Pod Foods, the company reinventing the grocery supply chain with the full-service wholesale B2B marketplace, launched a new, data-driven discovery engine that will eventually make "the infinite shelf" a reality for grocery retailers. The new engine connects any retailer, in any location, with Pod Foods' infinite warehouse of emerging brands and its robust, software and data-enriched warehousing and fulfillment platform.
In 2021 , Notch secured CAD 12.5 million (US$ 10 million) in funding, as the start-up looks to expand its recently revamped restaurant supply chain offering to new markets.
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Better Communications Between SMEs and Buyers Due to Smartphones and Tablets Drives Global B2B Food Marketplace Platform Market Growth:
The demand for B2B food marketplace platforms is mainly driven by small and medium enterprises. These firms are expanding rapidly in the US. Moreover, the availability of well-developed internet infrastructure and acceptance of advanced technologies create a favorable environment for start-ups in the country, especially for companies that use the internet marketplace to do business. Due to lower communication and infrastructure costs, established organizations and major corporations are also gravitating toward the online marketplace. B2B food marketplace platforms allow organizations to reach out to more clients, thereby providing essential exposure to the firm. The rising importance of online marketing tools, such as Google and Facebook advertisements, is also propelling the online marketplace. Furthermore, due to the prominence of social media apps, marketing alternatives are aplenty these days, which aid in the continuous development of the online marketplace. 4G and 5G technologies, which aid in robust internet connectivity, are likely to benefit the B2B food marketplace platform market in the coming years, as it offers users a continuous, seamless experience. Moreover, customers' exposure to online buying is increasing with the elevating use of smartphones, which supports the B2B food marketplace platform market growth.
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The North America B2B food marketplace platform market is segmented into the US, Canada, and Mexico. Technological advancements and developments in the foodservice industry have led to a highly competitive market for all industries across North America. Many major investors are investing in technological developments in the foodservice industry across the region. Companies in North America are continuously enhancing their overall business processes to meet customer demands for high-quality services. In North America, many well-established restaurants such as Subway, Starbucks, McDonald's, Dunkin', Pizza Hut, Burger King, Wendy's, and Taco Bell, along with grocery retail chains such as Walmart, Kroger, Costco, Safeway, Albertsons, Vons, Food Lion, and Stop & Shop, are inclined toward adopting advanced technologies as these companies have an extensive global supply chain and huge investment in advanced technologies. Further, the flourishing food service industry in North America is driving the adoption of B2B food marketplace platforms. For instance, in August 2021, according to the American National Restaurant Association, food and beverage sales increased by 19.7% compared to 2020. Also, the annual commercial food service sales increased by 12.3% in October 2021 compared to 2020, according to Restaurant Canada's 2021 Food Service Facts. In addition, according to the US Department of Agriculture, US household spending on food and beverage increased from 11.9% in 2020 to 12.4% in 2021. Moreover, the presence of several B2B e-commerce solution providers is expanding the reach of B2B food marketplace platform market growth in North America.
Global B2B Food Marketplace Platform Market: Industry Overview
The B2B food marketplace platform market is segmented based on food category, enterprise size, and geography. Based on food category, the B2B food marketplace platform market is divided into chilled & dairy, grocery, beverages, and others. Based on enterprise size, the B2B food marketplace platform market is segmented into small and medium enterprises and large enterprises.
Based on geography, the B2B food marketplace platform market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, the UK, France, Italy, Russia, Spain, Belgium, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, Indonesia, Malaysia, Thailand, and the Rest of APAC), MEA (the UAE, Morocco, South Africa, Turkey, Nigeria, and the Rest of MEA), and SAM (Brazil, Argentina, and the Rest of SAM).
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