The global food tech market is expected to grow over $250.43 billion by 2022 at a single digit CAGR through the forecast period.
The food tech market encompasses the online food and grocery ordering and delivery ecosystem, primarily the online grocery delivery companies (such as Tesco PLC, Sainsbury), online food aggregators (such as Grub Hub Inc., Domino's Pizza Inc.), and Over the Top (OTT) & convenience service provider (such as Zomato, Book a Table). The market is expected to progress to a substantial extent since the target customers are the convenience seeking global population.
Rapid adoption of e-commerce, growing internet and smartphone penetration, and ease of placing ordering are some of the factors responsible for the growth of this market. However, the market consists of certain challenges as well which are inhibiting the overall growth for the market, such as week business models, financial pressure, and intense competition scenario.
The concept of food tech market revolves around the types of services the market players provide. These services are online grocery delivery companies, online food aggregators, and Over the Top (OTT) & convenience service provider. Online food aggregators are dominating the market, however, the OTT& convenience service are estimated to grow at the highest CAGR since a small yet growing population segment have been identified to show inclination towards famous chefs and restaurants which they can find through such services for dine-in.
The competitive landscape for the food tech farming market demonstrates an inclination of companies adopting strategies such as collaborations, product launches, mergers, and contracts among others. GrubHub Inc., Tesco PLC, Domino's Pizza Inc., Pizza Hut International, and Sainsbury were the most prominent names that surfaced in 2015.
Key Topics Covered:
1. Report Scope & Methodology
1.1. Scope of the Report
1.2. The Food Tech Market Research Methodology
2. Market Dynamics
2.1. Market Drivers
2.1.1. Global Adoption of E-Commerce & Digital Payment
2.1.2. Growing Internet & Smartphone Penetration
2.1.3. Ease of Ordering
2.2. Market Restraints
2.2.1. Funding/Financial Pressure
2.2.2. Lack of Innovative Business Models
2.2.3. Intense Competition
2.3. Market Opportunities
2.3.1. Concept of Cloud Kitchen
2.3.2. Huge Scope of Logistics and Financial services
3. Industry Analysis
3.1. Investment & Funding Analysis
3.2. Market Share Analysis
4. Competitive Insights
4.1. Key Market Development & Strategies
4.1.2. Mergers & Acquisitions
4.1.3. Partnerships, Collaborations & Joint Ventures
4.1.4. Product Launches
4.1.5. Business Expansion
4.1.6. Others (Financial Investment)
4.2. Industry Attractiveness
4.2.2. Threat of New Entrants
4.2.3. Bargaining Power of Buyers
4.2.4. Bargaining Power of Suppliers
4.2.5. Threat from Substitutes
4.2.6. Intensity of Competitive Rivalry
5. Food Tech Market by Service Type
5.1. Online Grocery Delivery
5.2. Online Food Aggregators
5.3. OTT & Convenience Services
6. Market by Technology Type
6.2. Mobile App
7. Market by Geography
8. Company Profiles
8.1. Delivery Hero Holding GmbH
8.2. Domino's Pizza Inc.
8.3. Doordash Inc.
8.6. Grubhub Inc.
8.7. Jimmy John's Franchise LLC
8.8. McDonald's Corporation
8.9. Panera Bread Company
8.10. Papa John's International
8.11. Pizza Hut International
For more information about this report visit http://www.researchandmarkets.com/research/3dh3ln/global_food_tech
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SOURCE Research and Markets