According to a new report, published by KBV research, The Global Food Technology Market size is expected to reach $342.1 billion by 2030, rising at a market growth of 10.1% CAGR during the forecast period.
The Food Science segment is showcasing a CAGR of 9.2% during the forecast period. Food technology helps maintain the quality and consistency of food products by controlling variables like temperature, pressure, and mixing speed during processing. Advanced food technology enables the detection of contaminants, pathogens, and spoilage, reducing the risk of foodborne illnesses. Preservation techniques such as canning, pasteurization, and modified atmosphere packaging enhance food shelf life, reducing food waste and increasing product availability.
The Fish, Meat, & Seafood segment is leading the Global Food Technology Market, by Industry in 2022 thereby, achieving a market value of $72.8 Billion by 2030. Food technology ensures the safety of fish, meat, and seafood products through processes like HACCP, irradiation, and rapid chilling to control pathogen growth. Preservation techniques like vacuum packaging, freezing, and modified atmosphere packaging maintain the freshness and extend the shelf life of fish, meat, and seafood. Technology enables the automated sorting and inspection of seafood and meat, improving product quality and reducing waste.
The Software segment would display a CAGR of 10.3% during (2023 - 2030). The software category includes a variety of solutions, including chatbots, restaurant reservation platforms, apps for ordering food and groceries, and warehouse management systems (WMS). By enhancing inventory accuracy and maximizing warehouse space, a WMS can assist in delivering end-to-end visibility and increased control. Businesses are enhancing their industry software offerings by utilizing cutting-edge technologies like generative AI.
The Asia Pacific region dominated the Global Food Technology Market, by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $116.7 Billion by 2030. The Europe market is anticipated to grow at a CAGR of 9.8% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 9.4% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/food-technology-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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