The Europe Food Technology Market would witness market growth of 9.8% CAGR during the forecast period (2023-2030).
Plant-based as well as alternative protein products are becoming more and more popular, which is one of the major trends driving the market. The rise of vegetarianism, veganism, and flexitarian diets has led to a surge in the development of plant-based meat and dairy alternatives. Because of advancements in food technology, it is now feasible to produce goods that closely resemble the nutritional makeup, flavor, and texture of conventional animal-based foods. This caters to consumer preferences for more ethical and sustainable options.
Food technology has also played a crucial role in enhancing food safety and quality. Advances in food processing techniques, packaging, and storage have extended the shelf life of perishable items, reduced food waste as well as ensuring that consumers have access to fresh and safe products. In addition, the development of rapid testing and traceability systems has made it possible to monitor and manage the safety of food products from farm to fork.
The food supply chain has witnessed significant changes with the advent of technology. The latest developments in the market have been focused on improving supply chain efficiency and transparency. The use of blockchain technology and Internet of Things (IoT) devices enables real-time tracking of food products, ensuring their authenticity and provenance, which is crucial in mitigating food fraud and enhancing traceability.
Germany has witnessed a similar surge in e-commerce, with a focus on food delivery and grocery shopping apps. Consumers increasingly rely on these platforms for their everyday food needs. Food delivery services have become a staple, offering a wide variety of cuisines, from local favorites to international dishes, delivered directly to consumers' doorsteps. The efficiency, real-time tracking, and a wide array of choices have made food delivery an integral part of modern life in Germany.
The growth of e-commerce and the popularity of food delivery services are transforming the food technology landscape in Europe. These platforms require robust technological infrastructure for order management, supply chain optimization, and last-mile delivery, all of which contribute to the growth of food technology in the region.
The Germany market dominated the Europe Food Technology Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $20,721.6 Million by 2030. The UK market is exhibiting a CAGR of 8.8% during (2023 - 2030). Additionally, The France market would experience a CAGR of 10.7% during (2023 - 2030).
Based on Application, the market is segmented into Food Science, Supply Chain, Delivery, Kitchen & Restaurant Tech and Others. Based on Application, the market is segmented into Fish, Meat, & Seafood, Beverages, Dairy Products, Fruits & Vegetables, Grain & Oil, Bakery & Confectionery and Others. Based on Component, the market is segmented into Hardware, Software and Services. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Food Technology Market will Hit $342.1 Billion by 2030, at a CAGR of 10.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Delivery Hero SE, HelloFresh SE, Swiggy, Flytrex Inc., Trax Technology Solutions Pte. Ltd., CUBIQ FOODS S.L., Lunchbox Technologies, Inc., Miso Robotics, Inc., Carlisle Technology, and Domino’s Pizza, Inc.
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