Digital Food Management Solutions Market size to grow by USD 2.99 billion from 2022 to 2027, Driven by growing demand for food safety and traceability- Technavio

NEW YORK, Oct. 3, 2023 /PRNewswire/ -- The "digital food management solutions market size 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) - Forecast and Analysis 2023-2027" report has been added to Technavio's offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the digital food management solutions market from 2022 to 2027 is USD 2.99 billion, according to Technavio. The growing demand for food safety and traceability is a key factor driving market growth. This growth is driven by factors such as increased foodborne illness, consumer demand for transparency in the food supply chain, and the implementation of stricter regulations by government agencies. The demand is being fueled by a growing incidence of food-borne illnesses. In addition, over the years there have been several food-borne illness outbreaks that resulted in serious health consequences for consumers. As a result, concerns related to the safety of the food chain have a positive effect on the market, more attention is being paid to applying measures to guarantee product safety. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

Market Challenge

High maintenance costs of digital systems are significant challenges restricting market growth. One of the main factors contributing to high maintenance costs is rapid technological progress and innovation in digital technology. In addition, as new features and capabilities are introduced to keep pace with competition, it is often necessary for businesses to upgrade their digital systems. However, these improvements are at a price as regards financing requirements and the means required to implement this degradation. Therefore, businesses that do not have sufficient funds to invest in digital solutions that are negatively affecting the market will find it difficult to improve them. Hence, these factors are expected to restrict market growth during the forecast period.

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The digital food management solutions market is segmented 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). 

• The food safety segment is estimated to witness significant growth during the forecast period. The growing concerns about foodborne illnesses and increasing government regulations aimed at ensuring food safety are some of the key factors contributing significantly to the growth of the food safety segment. Food safety is an essential part of the food industry and with technological advances, digital solutions are being developed to improve food safety operations. Innovative tools and techniques to prevent contamination of foodstuffs, track the ingredients used in foods as well and monitor storage and transport conditions are some of the key advantages of digital food management solutions. Hence, these factors are expected to drive market growth during the forecast period.

• North America is estimated to contribute 48% to the growth of the global market during the forecast period. 

View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Digital Food Management Solutions Market:

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.

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Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio