Key Factor Supporting Global Food Technology (FoodTech) Market Development in 2025: Growing Popularity Of Online Food Delivery Fueling The Growth Of The Market Due To Rising Demand For Convenience And Efficiency

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What Is the Expected CAGR for the Food Technology (FoodTech) Market Through 2025?
The expansion of the food technology (foodtech) market has been exponential in the recent past. It is projected to escalate from a market capitalization of $236.82 billion in 2024 to $263.46 billion in 2025, indicating a compound annual growth rate (CAGR) of 11.2%. This historic growth trend can be credited to the increasing consumer preference for healthier ingredients, amplified investments in foodtech, an expanding population requiring a larger food supply, heightened consciousness about food safety and environmental issues, and the burgeoning market for plant-based and alternative proteins.

What's the Projected Size of the Global Food Technology (FoodTech) Market by 2029?
Over the coming years, the food technology (foodtech) market is predicted to experience a swift expansion, reaching up to $410.2 billion by 2029 with a compound annual growth rate (CAGR) of 11.7%. Various factors contributing to this growth during the forecast period include the rising trend of plant-based diets, growing requirement for personalized food options, increased popularity of food delivery platforms and a heightened demand for processed and convenience food items. Notable trends during this period are expected to encompass novel developments in food technology, food safety techniques, advances in reducing food wastage, the evolution of smart kitchen technologies, and digitization within the food industry.

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Top Growth Drivers in the Food Technology (FoodTech) Industry: What's Accelerating the Market?
The anticipated proliferation of the food technology (foodtech) market hinges on the increasing trend of online food delivery. This service, which lets users order meals or groceries via a web portal or an app, and gets the food delivered to them from a restaurant or through a third-party service or delivery platform, continues to gain traction. Its growth stems from an escalating demand for convenience and time-saving offerings that enable consumers to easily have meals without interfering with their usual schedules. Advanced algorithms and automation facilitated by foodtech enrich the online food delivery process, efficiently managing orders for quicker delivery. The technology increases efficiency by leveraging intelligent kitchen solutions and data-driven logistics, thus heightening customer satisfaction. As an example, the Australian Bureau of Statistics, a government agency based in Australia, reported that the seasonally adjusted online food sales in February 2025 surged to $1326.4 million from $1225.9 million in 2024. Hence, the increasing demand for online food delivery is propelling the expansion of the food technology (foodtech) market.

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What Trends Will Shape the Food Technology (FoodTech) Market Through 2029 and Beyond?
Prominent corporations in the foodtech market are emphasizing the evolution of innovative solutions like AI-driven recipe creators to boost personalization and enhance customer interaction. These AI-enabled recipe generators are tools that apply artificial intelligence to develop custom recipes grounded in user choices, dietary requirements, and available ingredients. For instance, in November 2024, Zydus Wellness Limited, a consumer wellness firm based in India, unveiled Nutralite Chef, an AI-powered foodtech platform. The platform is purposed to simplify meal preparations and recipe crafting for city dwellers. This app suggests tailored recipes and meal schemes based on ingredients available, nutrition preferences, and calorie requirements. Additionally, it supports voice and image-centered searches for user convenience. It also offers guided cooking instructions in various languages through WhatsApp and web platforms, promising an accessible, ad-free user experience.

What Are the Main Segments in the Food Technology (FoodTech) Market?
The food technology (foodtech)market covered in this report is segmented -

1) By Component: Hardware, Software, Services
2) By Technology: Digital Platforms, Artificial Intelligence, Blockchain, Internet Of Things, Biotechnology
3) By Industry: Fish, Meat, And Seafood, Fruits And Vegetables, Grain And Oil, Dairy Products, Beverages, Bakery And Confectionery, Other Industries
4) By Application: Food Science, Kitchen And Restaurant Technology, Delivery, Supply Chain, Other Applications

Subsegments:
1) By Hardware: Smart Kitchen Appliances, Automated Cooking Equipment, Food Delivery Robots And Drones, Internet Of Things-Enabled Sensors, Precision Agriculture Equipment
2) By Software: Artificial Intelligence-Based Recipe And Meal Planning Platforms, Restaurant And Kitchen Management Software, Food Delivery And Logistics Platforms, Inventory Management Systems, Nutrition And Diet Tracking Applications
3) By Services: Cloud Kitchen And Ghost Kitchen Services, Food Subscription And Meal Kit Services, On-Demand Food Delivery Services, Information Technology And Technical Support Services, Consulting And Customization Services

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Which Top Companies are Driving Growth in the Food Technology (FoodTech) Market?
Major companies operating in the food technology (foodtech) market are DoorDash Inc., Delivery Hero SE, HelloFresh SE, Domino's Pizza Inc., Tate & Lyle Public Limited Company, Swiggy Ltd., Grubhub Inc., BOX8 , Apeel Technology Inc., Rebel Foods Private Limited, Foods for Tomorrow S.L, Eat24Hours.com Inc, Nature's Fynd Inc., Lunchbox Technologies Inc., Chef Robotics, Flytrex Inc., Carlisle Technology, Miso Robotics Inc, TurtleTree, Cubiq Foods S.L

Which Regions Will Dominate the Food Technology (FoodTech) Market Through 2029?
Asia-Pacific was the largest region in the food technology (foodtech) market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the food technology (foodtech) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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