The food technology market size worldwide was 260.07 billion U.S. dollars in 2022. Due to advancing technologies within the food industry, as well as a demand for healthier, cheaper, and safer food products, the market is forecast to exceed 360 billion U.S. dollars by 2028.

Access the summary of the Food Tech market report, featuring key insights, executive summary, market size, CAGR, growth rate, and future outlook.

BIS Research undertakes detailed study report on Global Food Tech Market. The research analyses key market study, trends, size, share, players & opportunities.

Analyze the market segmentation of the Food Tech industry. Gain insights into market share distribution with a detailed breakdown of key segments and their growth.

In fiscal year 2021, the shipment value of the agritech and foodtech markets in Japan amounted to almost 72 billion Japanese yen. The market encompassing smart agriculture, plant factory, next-generation aquaculture, and alternative proteins was forecast to triple in size until fiscal 2030, exceeding 211 billion yen.

Explore key Food Tech market trends in our in-depth report. Uncover major growth drivers, potential restraints, and future market directions. Get expert insights and stay ahead with our detailed market analysis.

Introduction

The AI in Foodtech market is projected to grow significantly, with a forecasted CAGR of 29.3%, reaching USD 62.7 billion by 2033 from USD 4.8 billion in 2023. The AI in Foodtech Market is rapidly expanding, driven by the need for increased efficiency and innovation in the food industry. Growth factors include the rising demand for personalized nutrition, improved supply chain management, and the ability of AI to enhance food safety and quality. With AI, companies can optimize production processes, reduce waste, and better predict consumer preferences, leading to more efficient operations and satisfied customers.

One of the key growth factors for AI in the foodtech market is the optimization of food production and supply chain management. AI algorithms can analyze vast amounts of data related to crop yield, weather patterns, soil conditions, and market demands to provide valuable insights for farmers and food producers. This enables optimized planting, resource allocation, and inventory management, resulting in increased productivity, reduced waste, and improved sustainability practices.

Furthermore, AI has enhanced food processing and quality control processes. Computer vision technology, coupled with machine learning algorithms, can accurately detect defects, contaminants, and anomalies in food products, ensuring adherence to quality standards and food safety regulations. AI-powered systems can also automate sorting, grading, and packaging processes, improving operational efficiency and reducing human error.

In the customer-facing aspect of the foodtech market, AI has transformed the dining experience and personalized nutrition. AI-powered recommendation systems can analyze individual preferences, dietary restrictions, and health data to provide personalized menu suggestions and nutritional guidance. Chatbots and virtual assistants powered by AI can enhance customer service, provide real-time support, and streamline the ordering and delivery process.

However, the market also faces challenges. One significant hurdle is the high cost of implementing AI technologies, which can be prohibitive for smaller companies. Additionally, there are concerns about data privacy and security, as well as the need for significant investment in training and upskilling the workforce to effectively use AI tools.

For new entrants, the AI in Foodtech Market presents numerous opportunities. As the market is still developing, there is ample room for innovation and the introduction of new solutions that can address current industry pain points. Startups can focus on niche areas such as sustainable food production, AI-driven food delivery services, or smart kitchen appliances.

Food And Agriculture Technology And Products Market size was valued at USD 661.33 Billion in 2024 and is projected to reach USD 1369.64 Billion by 2031, growing at a CAGR of 10.51% during the forecast period 2024-2031.

Food Agriculture Technology and Products Market: Definition/ Overview

Food agriculture technology and products encompass a range of innovative tools, methods, and materials designed to enhance the efficiency, sustainability, and productivity of agricultural practices. This includes technologies such as precision farming, biotechnology, and vertical farming systems, which are applied across various sectors, including crop cultivation, livestock management, and food processing. Looking ahead, the future of food agriculture technology is promising, with continued advancements in automation, data analytics, and sustainable practices expected to drive significant improvements in food production efficiency and resource management, ultimately addressing the challenges of a growing global population and changing climate conditions.

The term “unicorn” is used in the venture capital industry to describe a startup company with a value of over one billion U.S. dollars. As of March 2020, food technology unicorns in Asia had the highest combined company value at 274 billion euros. Meanwhile, food tech unicorns Europe had the lowest combined company value at 92 billion euros.

What is the leading food technology unicorn in the Americas?

In 2021, food technology unicorns in the Americas were ranked according to company value. Uber Eats was ranked first with a company value of 46 billion euros, while Chewy ranked last with a company value of 29 billion euros. In that year, the food technology unicorns in Europe were similarly ranked according to company value. Delivery Hero was the food technology company in Europe with the highest value at approximately 27 billion euros.

What is the value of the global food technology market size?

The food technology market size worldwide was valued at 220.32 billion U.S. dollars in 2019. Due to advancing technologies within the food industry, as well as a demand for healthier, cheaper, and safer food products, the value of the global food technology market is expected to grow. By 2027, the market is forecast to exceed 342 billion U.S. dollars.

The size and share of the market is categorized based on Type (Software, Scanning Device) and Application (Hotels and Restaurants, Food Testing Laboratories, Others) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The size of the MENA Food Service Market market was valued at USD 84.77 USD Billion in 2023 and is projected to reach USD 159.09 USD Billion by 2032, with an expected CAGR of 9.41% during the forecast period. Various factors are driving this significant growth, including the growing popularity of hybrid seeds, supportive government initiatives aimed at promoting agriculture, rising concerns regarding food security, and the integration of advanced technologies within the food service industry. Hybrid seeds offer benefits such as increased yield, resistance to pests and diseases, and better tolerance to environmental stresses, making them a valuable asset for farmers in the region. Moreover, governments in the MENA region are actively implementing policies and programs to enhance agricultural productivity and support sustainable farming practices. Additionally, the increasing demand for safe and nutritious food has heightened awareness about food security, leading to a surge in investments in food production and distribution. Technological advancements, such as automation and data analytics, are further streamlining operations and improving efficiency within the food service industry, contributing to its overall growth. Recent developments include: December 2023: The Ritz-Carlton announced that it would launch its new resort in the second half of 2024, which is inspired by a super yacht. The new resort is designed to cater to the exponential growth in the travel industry and increased tourism in Dubai., October 2023: Roboost, a delivery management startup based in Egypt, announced its partnership with McDonald’s Egypt to automate the last-mile delivery cycle. This collaboration aims to improve McDonald’s delivery and supply chain management in Egypt and reduce operational costs., September 2023: ACCOR announced its ambitious plan to further expand its presence in North Africa with a robust pipeline across key brands, including Pullman, Mövenpick, and Swissôtel. In North Africa, the group is ready to launch a mix of resorts and hotels., July 2023: An Indian food tech startup announced the launch of its two new cloud kitchens in Riyadh. Rebel Foods is the parent company of brands Faasos, Behrouz Biryani, Oven Story Pizza, and more. This launch made it the first Indian food tech startup to enter the Middle Eastern market., December 2022: The Riyadh-based food technology company “Matbakhi” announced its launch with a cloud kitchen concept to cater to the increasing online food delivery trend in the country.. Key drivers for this market are: Growing Population Coupled with Increased Spending on Dining Out is Propelling Market Growth. Potential restraints include: Growing Population Coupled with Increased Spending on Dining Out is Propelling Market Growth. Notable trends are: Growing Population Coupled with Increased Spending on Dining Out is Propelling Market Growth.

The size and share of the market is categorized based on Type (No-till technique, Genetic engineering, Bio seeds, Micro irrigation, Other) and Application (Goverment, Private) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

Food Traceability Technology Market size was valued at USD 2.7 Billion in 2023 and is projected to reach USD 10.3 Billion by 2030, growing at a CAGR of 12.0% during the forecast period 2024-2030.

Global Food Traceability Technology Market Drivers
The market drivers for the Food Traceability Technology Market can be influenced by various factors. These may include:

Customer Demand for Transparency: People are becoming more and more concerned about the safety and provenance of the food they eat. More openness in the food supply chain is made possible by traceability technologies, which empowers customers to make more informed decisions.

Stricter Regulatory Requirements: Stricter standards pertaining to food safety and traceability are being implemented and enforced by governments and regulatory agencies across the world. The adoption of traceability systems by food firms is significantly influenced by their compliance with regulatory requirements.

Globalisation of the Food Supply Chain: when a result of the food supply chain becoming more globalised, improved product tracking and monitoring are required when goods travel across national boundaries. Throughout the supply chain, traceability technologies aid in guaranteeing the quality and safety of food items.

Food Fraud Concerns: Mislabeling and adulteration are two issues that the food sector must deal with. By enabling the tracking and authentication of product provenance, traceability technologies serve to lower the risk of food fraud.

Enhancement of Supply Chain Efficiency: By offering real-time visibility into the movement of goods, traceability technologies like blockchain and RFID (Radio-Frequency Identification) can improve the efficiency of the supply chain. This may result in less waste and improved inventory control.

Technological Developments: As a result of ongoing developments in fields like blockchain, data analytics, and the Internet of Things, more complex and trustworthy traceability solutions are being created. Companies now find it simpler to deploy traceability systems because to these technical improvements.

Brand protection and reputation management: A company’s reputation may be severely harmed by food recalls and safety incidents. By putting traceability solutions into practice, businesses may safeguard their brand image by responding to recalls more skillfully and proving their dedication to food safety.

Growing attention on Sustainability: The food sector is placing an increasing amount of attention on sustainability and ethical sourcing. Technologies for traceability can assist in guaranteeing that food items are sourced ethically, satisfying consumer demand for environmentally and socially conscious methods.

Integration with Smart Packaging: Real-time product condition monitoring, including temperature and humidity, is made possible by the integration of traceability technologies with smart packaging systems. This is essential to preserving perishable foods’ safety and quality.

Growing Awareness Among Food Producers: As the advantages of traceability become more widely known, more manufacturers and food producers are realising the importance of putting traceability solutions into place to improve their processes and satisfy consumer demands.

Global Food Safety Diagnostics Market is segmented by Contaminant Testing (Pathogen Testing, Pesticide and Residue Testing, Mycotoxin Testing, GMO Testing, Allergen Testing, and Other Contaminant Testing), by Technology (Polymerase Chain Reaction (PCR), Immunoassay-based, Chromatography and Spectrometry, and Other Technologies), by Application (Animal Feed and Pet Food, and Food), and by Geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa). The report offers market size and values in (USD Million) for the above segments during the forecast years.

The revenue of Meeat Food Tech Oy increased since 2021. As of 2023, the company reached a revenue of 7.1 million euros. Meeat Food Tech Oy is a Finland-based company, focusing on plant-based meat alternatives. Financial challenges of Meeat Food tech Oy despite revenue growth While Meeat Food Tech Oy's revenue has been increasing, the company faces financial hurdles. In 2023, Meeat Food tech reported an operating loss exceeding 3.7 million euros, a decline from its 2021 performance. However, the firm's workforce has expanded, with employee numbers rising to 15 in 2023. Meat alternatives are on the rise The average volume per capita of meat substitutes in Finland's food market is expected to increase by 47.62 percent between 2024 and 2029, reaching a new peak of 0.29 kilograms in 2029. This trend aligns with changing dietary habits, as a 2023 survey revealed that 30 percent of Finns have meatless or fishless dinners once or twice a week, indicating a growing acceptance of plant-based options.

The Food Automation Market is Segmented by Operational Technology and Software (distributed Control Systems (DCS), Manufacturing Execution Systems (MES), Variable-Frequency Drive (VFD), Valves and Actuators, Electric Motors, Sensors and Transmitters, and Industrial Robotics), End-User (dairy Processing, Bakery and Confectionery, Meat, Poultry, and Seafood, Fruits and Vegetables, and Beverages), Application (packaging and Repackaging, Palletizing, Sorting and Grading, and Processing), Geography (North America (United States and Canada), Europe (United Kingdom, Germany, France, and Rest of Europe), Asia-Pacific (China, India, Japan, and Rest of Asia-Pacific), Latin America, and Middle-East and Africa). The Market Size is Provided in Terms of Value USD for all the Abovementioned Segments.

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Food Ultrasound Market Size 2024-2028

The food ultrasound market is estimated to grow by USD 99.7 million at a CAGR of 6.79% between 2023 and 2028. The market is witnessing substantial growth, primarily driven by a growing focus on safety and quality. A significant driver of this growth is the heightened consumer demand for safe and healthy food, fueled by increasing safety concerns. Ultrasonic technology emerges as a critical component in enhancing safety and quality standards. Through early contamination detection, ultrasound plays a vital role in ensuring that only safe and high-quality products reach consumers. This technology's ability to detect potential issues early in the production process not only improves consumer confidence but also helps manufacturers maintain compliance with rigorous safety regulations. As a result, ultrasonic technology is becoming increasingly integral to the industry's efforts to deliver safe and top-quality products to the market. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

By Frequency Range

The market is a critical segment within the food industry, leveraging ultrasound technology for various applications such as freezing, harvesting, drying, and sterilizing food products. This technology plays a pivotal role in ensuring food safety and quality by detecting potential tampering, germs, and other contaminants. Food ultrasound is extensively used in the meat and food, bakery and confectionery, cereals, grains, pulses, nuts, seeds, and spices sectors, contributing to the production of packaged foods. The global market is driven by increasing demand for eco-friendly and energy-efficient technologies, stringent rules and regulations regarding food safety, and the technical challenges faced in food processing. Consumers' heightened awareness of food quality and the need for safe storage further fuel the adoption of food ultrasound equipment. As the industry evolves, innovations in ultrasound technologies continue to meet the attributes desired by both consumers and regulatory bodies, making food ultrasound a cornerstone of modern food processing operations.

The market share growth by the medium frequency segment will be significant during the forecast period. Medium frequency (100 kHz to 1 MHz) ultrasound is a technology that uses sound waves to determine the properties. Sound waves in the medium frequency range are generated and propagate through the sample. By analyzing the interaction between sound waves and food, information can be obtained about various properties, such as chemical composition, texture, and quality.

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The medium frequency segment was valued at USD 122.90 million in 2018. The use of this has increased significantly in recent years. This is mainly due to the advantages that technology offers. One of the main benefits is the destruction of blemishes. This means that the samples were not damaged or altered during the analytical process. This is especially important in this industry where product quality is paramount. This ultimately saves manufacturers time and money and improves the overall efficiency of the production process.

By Region

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North America is estimated to contribute 39% 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.

North America is expected to be the largest geographic segment of the global market during the forecast period, owing to the growing demand for high-quality processed foods and the presence of a large number of companies in the region. The market is expected to grow significantly due to the expansion of the processing industry, growing interest in food safety and quality, and increasing demand for meat and seafood. The United States is the largest market in North America, accounting for the majority of the market share. The market is expected to grow significantly due to increasing demand for processed ones, the prevalence of diseases, and growing consumer awareness of the benefits of ultrasound technology in the processing industry. With such a large number of diseases, the demand will increase, boosting the growth of the regional market during the forecast period.

Market Dynamics and Customer Landscape

The market is revolutionizing the industry with its innovative applications. Utilizing sound waves of varying frequencies, this technology enhances various applications such as crystallization, freezin

Global Food Safety Testing Market is expected to reach at a CAGR of 7.5% from 2016 - 2021. BIS report focus on market trend, size, growth, Technology, Analysis & Forecast

The global food security technologies market size was $5 billion in 2022 and is expected to reach $8 billion by 2030 with a CAGR of roughly 6.05%.

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Food Service Market Size 2025-2029

The food service market size is forecast to increase by USD 53,709.5 billion at a CAGR of 47.5% between 2024 and 2029.

The global foodservice market is experiencing consistent growth, driven by rising consumer demand for convenience and advancements in delivery technology and catering services. Key factors include shifting lifestyles that favor dining out or ordering in, particularly among urban populations, and the expansion of online food delivery platforms, which leverage mobile apps and real-time tracking to enhance customer experience.
This report provides a comprehensive guide for businesses, detailing market size, growth forecasts through 2028, and key segments like quick-service restaurants, which dominate due to their speed and affordability. It explores trends such as the growing popularity of plant-based menu options, reflecting dietary shifts, and addresses challenges like rising operational costs, which can squeeze margins in a competitive landscape. The analysis is designed to support strategic planning, menu development, and operational efficiency.
For companies aiming to thrive in the global foodservice market, this report offers clear, data-driven insights into capitalizing on convenience trends and managing cost pressures, ensuring they can adapt to an evolving and dynamic industry.

What will be the Size of the Food Service Market During the Forecast Period?

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The foodservice industry continues to evolve, with increasing adoption of technology and strategic partnerships to enhance the customer experience. Food delivery services have gained significant traction, offering convenience and flexibility to consumers. Market growth is driven by factors like population growth, changing consumer preferences, and advancements in food technology. The industry's size is substantial, with continuous expansion expected due to increasing demand for diverse and convenient food options.

How is this Food Service Industry segmented?

The food service industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Service

  Conventional
  Centralized
  Ready-prepared
  Assembly-serve


Sector

  Commercial
  Non-commercial


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK
    France
    Italy


  South America



  Middle East and Africa

By Service Insights

The conventional segment is estimated to witness significant growth during the forecast period. The conventional food service system is a traditional approach used by companies to prepare and serve food on the same premises. This system ensures customers that their meals are freshly prepared and customized to their preferences. Depending on the food type, it is maintained in heated or chilled conditions before being served. This system is commonly used in institutions such as schools and universities, as well as in restaurants and cafeterias. Food prepared using this method can be distributed directly to dining rooms or lunch counters for service. Key players in the food service industry, including restaurant operators, hotel chains, independent business owners, and child care centers, utilize this system. The convenience of this approach allows for productivity gains, improved safety, and enhanced consumer experience.

With the increasing urbanization and population growth, particularly in urban areas, the demand for food service establishments has risen. The integration of technology, such as e-commerce systems and online ordering, has further boosted the growth of the food service industry. The sector encompasses various segments, including restaurants, cafes, and hotels, among others. The industry caters to diverse cuisines and dietary preferences, such as veganism, which is currently a popular food trend. The market is driven by factors such as changing consumer lifestyles, foreign investment, rising incomes, and high aspiration levels. The quality of food, punctuality of delivery, and full meal menus, including breakfast, lunch, and dinner options, are essential considerations for both fine dining establishments and casual dining restaurants.

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The conventional segment was valued at USD 1,173.40 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 44% 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.

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