North America B2B Food Marketplace Platforms Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Enterprise Size (Large Enterprises and SMEs) and Food Category (Chilled & Dairy, Grocery, Beverages, and Others)
The B2B food marketplace platforms market in North America is expected to grow from US$ 6,079.90 million in 2021 to US$ 17,305.33 million by 2028; it is estimated to grow at a CAGR of 16.1% from 2021 to 2028.
Supply firms attract consumers by giving discounts or special deals on a specific product or when a certain volume is purchased. Suppliers and businesses frequently enter into enterprise-level pricing arrangements and the market price of any given item is kept consistent and price transparency in the food B2B sector is maintained. This dynamic typically benefits suppliers, who may price discriminate based on customers' ability and willingness to pay. For example, eFoodChoice.com is a food B2B online platform firm that helps international food vendors and buyers expand their merchandising channels, develop their online business internationally, and sustainably increase their profitability. Depending on the quantity of the goods, the firm provides an exclusive pricing range for the buyers. The company has also set minimum order quantities (MOQs) for each product category. As a result of this contractual pricing of products, end users can select the optimal number of goods at a fair price, thereby promoting B2B food marketplace platforms.
Based on enterprise size, the large enterprises segment led the North America B2B food marketplace platforms market in 2020. With the expansion of large enterprises, the supply chain and operations become more advanced in the region. For instance, in the US, Amazon Business continues to move ahead to dominate the country’s largest industry B2B distribution channel. At present, it is a largest B2B marketplace in the US and is projected to be on a path of largest seller including food distribution. Various industries, including food industry, with over dozen marketplace startups would certainly undergo from significant marketplace consolidation in the coming five years.
The ongoing COVID-19 pandemic has drastically altered the status of the food & beverage industry and has negatively impacted the growth of the North America B2B food marketplace platforms market. The COVID-19 outbreak has distorted operational efficiency and disrupted the value chains due to the sudden closure of national and international boundaries, creating revenue loss and damage. The disruptive value chain restricted raw material supply, which, in turn, is impacting the growth of the B2B food marketplace market. However, as the economies are planning to revive their operations, the industry is expected to rise in the region. With the growing consciousness toward health amongst consumers and diversification of application bases in post-pandemic times, the B2B food marketplace is expected to take huge leaps in the coming years.
The overall North America B2B food marketplace platforms market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the North America B2B food marketplace platforms market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the North America B2B food marketplace platforms market. eFoodChoice.com, FOOD FOR SALE, FoodMaven, FoodsTrade, and Ukrainian Food Platform are a few players operating in the market.
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