Press release
Digital Food Management Market Segments 2024-2033: Size, Share, and Insights
Digital Food Management Market
Insights into Digital Food Management Market: Global Trends and Analysis
Digital Food Management Industry - Key Market Dynamics and Trends
The digital food management market size has grown rapidly in recent years. It will grow from $2.52 billion in 2023 to $2.88 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to increased internet penetration, smartphone adoption, consumer demand or convenience, rise of food delivery platforms, pandemic-induced changes.
The digital food management market size is expected to see rapid growth in the next few years. It will grow to $4.82 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to growth in e-commerce, integration of payment systems, social media marketing, restaurant digitization, growth of virtual kitchens, rise of contactless payment and delivery. Major trends in the forecast period include advancements in autonomous delivery vehicles, expansion of 5G technology, advancements in ai and ml, blockchain for food traceability, augmented reality menus, restaurant partnerships with delivery apps, blockchain for enhanced customer trust.
Market Overview -
Digital food management refers to the use of technology and software tools to oversee and optimize various aspects of food production, distribution, storage, and consumption. This approach aims to enhance efficiency, reduce waste, and improve food safety and sustainability in the food industry.
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Surge Of Digital Food Management In Online Ordering And Contactless Dining
The increasing demand for convenience in online ordering and contactless dining is expected to propel the growth of the digital food management market going forward. Online ordering and contactless dining refer to restaurant services that allow customers to place orders and make payments without interacting closely with staff members or touching shared surfaces. Digital food management streamlines online ordering and contactless dining by enhancing efficiency, accuracy, and customer convenience through automated processes and real-time data integration. For instance, in October 2023, according to the Hotel Tech Report, a US-based hotel management software provider, from March 2020 to March 2021, there was a rise in the use of food delivery apps among American consumers, growing from 38% to 47%. Therefore, the increasing demand for convenience in online ordering and contactless dining is driving the growth of the digital food management market.
Competitive Landscape -
Major companies operating in the digital food management market report are Oracle Corporation, Uber Technologies Inc., Block Inc., Booking Holdings Inc., DoorDash Inc., Just Eat Takeaway.com, Roper Technologies Inc., Toast Inc., Grubhub Inc., Deliveroo, Zoho Corp. Pvt. Ltd., Lightspeed POS Inc., CBORD Group Inc., The CBORD Group Inc., AGILYSYS INC., TouchBistro Inc., Kellton Tech Solutions Ltd., HungerRush LLC, Omega Softwares Inc., iNECTA LLC, Tastewise Technologies Ltd., GOFRUGAL Technologies, APICBASE NV, Profileprint PTE LTD.
Revolutionizing Food Product Lifecycle With Next-Generation PLM
Major companies operating in the digital food management market are launching new technologies, such as next-generation product lifecycle management (PLM) solutions, to increase their profitability in the market. Next-generation Product Lifecycle Management (PLM) solutions in digital food management refer to advanced digital systems that optimize and integrate every stage of a food product's lifecycle, from ideation and development to distribution and disposal, using cutting-edge technologies. For instance, in May 2021, Centric Software, a US-based software company, launched Centric Food and Beverage PLM. This modern web and mobile app platform enhances team collaboration and strategic decision-making with features such as digital boards and product portfolio management. It supports various workflows, including 3D and CAD-neutral, and integrates with enterprise systems for effective vendor collaboration and calendar management.
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Key Segments -
The digital food management market covered in this report is segmented -
1) By Type: Software Solutions, Hardware Solutions, Services
2) By Technology: Computer-Aided Design (CAD), Computer-Aided Engineering (CAE), Sales Force Automation (SFA), Enterprise Resource Planning (ERP), Other Technologies
3) By Application: Food Safety, Marketing, Other Applications
4) By End-User: Restaurants And Cafes, Fast Food Chains, Catering Services, Hotels and Hospitality, Food Trucks, Other End Users
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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