Food Tech

Global Food Tech Market to Reach US$308.7 Billion by 2030

The global market for Food Tech estimated at US$204.6 Billion in the year 2024, is expected to reach US$308.7 Billion by 2030, growing at a CAGR of 7.1% over the analysis period 2024-2030. Hardware, one of the segments analyzed in the report, is expected to record a 6.8% CAGR and reach US$179.9 Billion by the end of the analysis period. Growth in the Software segment is estimated at 8.1% CAGR over the analysis period.

The U.S. Market is Estimated at US$55.7 Billion While China is Forecast to Grow at 11.0% CAGR

The Food Tech market in the U.S. is estimated at US$55.7 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$64.4 Billion by the year 2030 trailing a CAGR of 11.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 3.6% and 6.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.7% CAGR.

Global Food Tech Market – Key Trends & Drivers Summarized

How Is Food Technology Reshaping the Global Food Industry?

Food technology (Food Tech) is transforming the global food industry by integrating advanced innovations in processing, manufacturing, distribution, and consumption. With the rise of automation, artificial intelligence (AI), and blockchain technology, the food sector is experiencing unprecedented efficiency, safety, and sustainability improvements. From smart packaging solutions that extend shelf life to AI-driven food safety inspections, technology is revolutionizing every aspect of food production and consumption. The increasing demand for transparency and traceability in food supply chains has also fueled the adoption of blockchain technology, allowing consumers and businesses to track food sources, quality, and sustainability metrics in real-time.

Another major trend in Food Tech is the emergence of plant-based and alternative protein innovations. Companies are leveraging cutting-edge biotechnologies such as fermentation and cellular agriculture to develop lab-grown meat, precision-fermented dairy, and plant-based seafood. These advancements cater to the growing demand for sustainable, ethical, and health-conscious food options. As food science continues to evolve, tech-driven solutions such as 3D food printing and personalized nutrition are pushing the boundaries of what is possible in food manufacturing and consumption.

What Are the Key Innovations Driving Food Tech Growth?

Several breakthrough innovations are shaping the Food Tech landscape, with AI, robotics, and IoT (Internet of Things) playing a central role. AI-powered predictive analytics are optimizing food supply chains, reducing waste, and enhancing inventory management. Grocery retailers and food service providers are increasingly using AI-driven demand forecasting tools to minimize overproduction and meet fluctuating consumer demands with precision. Meanwhile, robotic automation in food processing plants is improving efficiency, reducing labor costs, and ensuring consistency in product quality.

The rise of cloud kitchens and food delivery automation is another major technological shift in the industry. With the growing popularity of online food ordering and meal delivery services, companies are investing in smart kitchen technologies that optimize food preparation and delivery times. Autonomous delivery robots, drone-based food delivery, and AI-powered order management systems are streamlining last-mile logistics, enhancing convenience for consumers while reducing operational costs for food businesses. Additionally, digital food platforms and apps are enabling hyper-personalized meal recommendations based on dietary preferences, allergies, and nutritional goals.

How Is Sustainability Influencing Food Tech Advancements?

Sustainability has become a driving force behind Food Tech innovations, as companies seek to reduce their environmental footprint while meeting consumer expectations for eco-friendly products. One of the most significant developments in this space is the rise of food waste reduction technologies. AI-driven food waste tracking systems, smart inventory management tools, and surplus food redistribution platforms are helping businesses optimize resources and minimize waste. Companies like Too Good To Go and OLIO are connecting consumers with surplus food from restaurants and grocery stores, reducing food loss at the retail level.

Another crucial aspect of sustainability in Food Tech is the adoption of alternative packaging materials. The shift away from single-use plastics has led to the development of biodegradable, compostable, and edible packaging solutions. Innovations such as seaweed-based packaging, mushroom-derived containers, and plant-based bioplastics are gaining traction as sustainable alternatives to traditional packaging. Furthermore, the rise of vertical farming and precision agriculture is optimizing food production by utilizing less land, water, and energy. These sustainable farming practices leverage IoT-enabled sensors, data analytics, and automation to enhance crop yield, reduce pesticide use, and promote localized food production.

What Factors Are Driving the Growth of the Food Tech Market?

The growth in the Food Tech market is driven by several factors, including rising consumer demand for convenience, increased focus on sustainability, and advancements in digital technology. The expansion of e-commerce and direct-to-consumer food delivery services has accelerated the adoption of smart kitchen technologies, AI-driven meal planning platforms, and cloud-based food retail solutions. Consumers are increasingly looking for seamless and personalized food experiences, pushing companies to integrate AI and machine learning into food recommendations, meal customization, and health-focused dietary planning.

Regulatory changes and food safety concerns are also shaping the Food Tech industry. Governments worldwide are tightening food safety regulations, prompting companies to adopt blockchain-based traceability solutions, AI-powered contamination detection, and real-time quality monitoring systems. The growing emphasis on food transparency has led to an increase in digital labeling technologies, including QR codes and augmented reality (AR) features that provide consumers with in-depth information about sourcing, nutritional content, and ethical production practices.

Investment and venture capital (VC) funding are playing a pivotal role in driving Food Tech innovation. Startups focused on alternative proteins, food waste reduction, and smart supply chains are attracting significant investments from major food corporations and tech investors. Companies such as Beyond Meat, Impossible Foods, and Oatly have disrupted traditional food categories through technological advancements, while food robotics firms and AI-driven analytics startups continue to revolutionize food production and logistics. As digital transformation accelerates across the food industry, the Food Tech market is poised for substantial growth, reshaping how food is produced, distributed, and consumed globally.

SCOPE OF STUDY:

The report analyzes the Food Tech market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Component (Hardware, Software, Services); Technology (Food processing technology, Food packaging technology, Food distribution technology, Food preparation technology, Food safety technology, Others); End-Use (Beverages, Dairy products, Bakery, Meat & seafood, Grain & Oil, Fruits & vegetables, Others)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 34 Featured) -

• Apeel Sciences
• Beyond Meat
• Bowery Farming
• Cargill
• Delivery Hero
• DoorDash
• Eat Just
• Grubhub
• Impossible Foods
• Instacart
• McCormick & Company
• Nestlé
• Olo
• PepsiCo
• Perfect Day
• ProducePay
• Sweetgreen
• Toast
• Uber Eats
• Winnow

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

We are diligently following expert opinions of leading Chief Economists (14,949), Think Tanks (62), Trade & Industry bodies (171) worldwide, as they assess impact and address new market realities for their ecosystems. Experts and economists from every major country are tracked for their opinions on tariffs and how they will impact their countries.

We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

As we release this report, U.S. Trade Representatives are pushing their counterparts in 183 countries for an early closure to bilateral tariff negotiations. Most of the major trading partners also have initiated trade agreements with other key trading nations, outside of those in the works with the United States. We are tracking such secondary fallouts as supply chains shift.

To our valued clients, we say, we have your back. We will present a simplified market reassessment by incorporating these changes!

APRIL 2025: NEGOTIATION PHASE

Our April release addresses the impact of tariffs on the overall global market and presents market adjustments by geography. Our trajectories are based on historic data and evolving market impacting factors.

JULY 2025 FINAL TARIFF RESET

Complimentary Update: Our clients will also receive a complimentary update in July after a final reset is announced between nations. The final updated version incorporates clearly defined Tariff Impact Analyses.

Reciprocal and Bilateral Trade & Tariff Impact Analyses:

USA
CHINA
MEXICO
CANADA
EU
JAPAN
INDIA
176 OTHER COUNTRIES.

Leading Economists - Our knowledge base tracks 14,949 economists including a select group of most influential Chief Economists of nations, think tanks, trade and industry bodies, big enterprises, and domain experts who are sharing views on the fallout of this unprecedented paradigm shift in the global econometric landscape. Most of our 16,491+ reports have incorporated this two-stage release schedule based on milestones.

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