Press release
17.8% CAGR, B2B Food Marketplace Platforms Market is Emerging with $71628.0 Million of Industry Revenue by 2028
B2B food marketplace platforms are being propelled forth by an increasing number of small and medium businesses. Small and medium-sized firms are expanding rapidly, particularly in India, South Africa, and Russia. Initiatives such as Make in India and Start-up India have resulted in a growing number of start-ups in nations that use internet marketplace to do business, thereby boosting the market growth. Due to lower communication and infrastructure costs, established organizations and major corporations are gravitating toward the online marketplace. B2B food marketplace platforms allow organizations to reach out to more clients, resulting in essential exposure to the firm. The rising importance of online marketing tools, such as Google advertisements and Facebook advertisements, is also driving the B2B food marketplace platforms market.Get Sample PDF Copy at https://www.theinsightpartners.com/sample/TIPRE00015838?Openpr+10051
Impact of COVID-19 Pandemic on B2B Food Marketplace Platforms Market
The B2B food marketplace platform market players also experienced a slowdown in the volumes attributing to the fact that the production units were operating with a limited workforce. This has had a negative impact on the truck refrigeration market. The food & beverages industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, shutdown of production plants, etc., because of this pandemic. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South and Central America, and the Middle East, and Africa has affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. All these factors are anticipated to affect the food & beverages industries in an adverse manner and thus act as restraining factor for the growth of B2B food marketplace platform markets in the coming months.
The B2B food marketplace platforms are being propelled forth by an increasing number of small and medium businesses. Small and medium-sized firms are expanding rapidly, particularly in India, South Africa, and Russia. Initiatives such as Make in India and Start-up India have resulted in a growing number of start-ups in nations that use internet marketplace to do business, thereby boosting the market growth. Due to lower communication and infrastructure costs, established organizations and major corporations are gravitating toward the online marketplace. B2B food marketplace platforms allow organizations to reach out to more clients, resulting in essential exposure to the firm. The rising importance of online marketing tools, such as Google advertisements and Facebook advertisements, is also driving the online marketplace. Furthermore, due to the prominence of social media apps, marketing alternatives are aplenty these days, which aid in propelling the online marketplace along development paths.
In addition, the usage of 4G and 5G technologies for robust connection is likely to have a beneficial influence on market growth, as it offers users a continuous, seamless experience. Furthermore, the usage of smartphones is accelerating at a rapid pace, boosting the customer's exposure to online buying. As a result, the increasing use of smartphones is driving market development.
Strategic Insights
The players operating in the B2B food marketplace platforms market focus on strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In 2021, B2B grocery delivery startup Jumbotail Technologies said that it had raised $14.2 million in a funding round dubbed ‘Series B3’, completing a targeted $25 million investment round.
- In 2020, FoodMaven announced partnership with The Annex by Ardent Mills (The Annex), to sell its transitional wheat flour to FoodMaven’s foodservice customers. FoodMaven and Ardent Mills have been collaborating since past several years to offer grains and flours to customers in Colorado.
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