Press release
Foodtech Market Size to Expand Rapidly with Rising Demand for Online Grocery Delivery and Aggregator Platforms | Valuates Reports
Foodtech MarketThe global Foodtech market was valued at US$ million in 2023 and is anticipated to reach US$ million by 2030, witnessing a CAGR of % during the forecast period 2024-2030.
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The Foodtech market is witnessing rapid expansion as digital transformation reshapes the global food ecosystem. Driven by increasing smartphone penetration, high-speed internet, and growing consumer demand for convenience, Foodtech solutions are becoming mainstream. The sector is benefitting from changing lifestyles, urbanization, and the rise of digital-first consumers who prefer technology-driven services for grocery shopping, meal ordering, and other convenience-based offerings.
By type, the Foodtech market is segmented into websites and mobile apps. Websites have historically played a central role in enabling online food ordering and grocery services, providing users with comprehensive menus, price comparisons, and delivery tracking. However, mobile apps now dominate the segment, offering enhanced convenience, faster user experiences, push notifications, and loyalty features. The mobile-first approach is a key growth driver as companies optimize their platforms for real-time ordering and customer engagement.
In terms of application, online grocery delivery is gaining significant traction as consumers prioritize contactless shopping and doorstep convenience. Online food aggregator platforms are also expanding rapidly, connecting customers with multiple restaurants, cafes, and food chains through a single platform. Additionally, convenience services such as ready-to-cook kits, dietary plans, and subscription-based meal deliveries are becoming popular among busy urban professionals, further fueling demand across the market.
Looking forward, the Foodtech market is expected to continue its strong growth trajectory, supported by technological innovations such as AI-driven personalization, predictive analytics, and cloud-based logistics platforms. The integration of drones, robotics, and last-mile delivery solutions will further enhance efficiency. Companies that invest in user-centric platforms, data-driven strategies, and diversified service offerings are likely to secure a competitive edge in this dynamic and rapidly evolving market.
Segment by Type
• Websites
• Mobile App
Segment by Application
• Online Grocery Delivery
• Online Food Aggregator
• Convenience Services
By Company
GrubHub, Domino's Pizza, Tesco, Sainsbury, Pizza Hut, Doordash, Eat24, Foodpanda, Jimmy John's, McDonald's, Panera Bread, Papa John's, Postmates
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