Digital Food Management Market by Software (Temperature Logging, Temperature Monitoring, Automated Food & Date Labelling, Food Safety & Cleaning Checklists, Front End Software, & Inventory Management, Table & Scheduling, Others), Deployment Mode End Use Catering, Institutional Kitchens, Restaurants, Convenience Stores, Dairies, Bakeries), and Region - Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits

Industry : FMCG | Pages : 181 Pages | Published On : Mar 2024

         
     

The Digital Food Management Market was valued USD 3.2 Billion in 2023 and projected to reach USD 7.8 Billion by 2030, growing at a CAGR of 13.6% during the forecast period of 2023-2030.

Digital Food Management Market Size


Graph
             2022                         2023-2030      

ReportDetails
Market Size ValueUSD 3.2 Billion in 2023
Market Size ValueUSD 7.8 Billion by 2030
CAGR13.6%
Forecast Period2023-2030
Historic Data2022
Segments CoveredSoftware, Deployment Mode, End Use
Geographics CoveredNorth America, Europe, Asia Pacific, and RoW

Major vendors in the global Digital Food Management Market: 365 RM UK Ltd.,  Booking Holdings Inc.,  FlexiBake Ltd.,  iNECTA LLC, JAMIX Oy, jiWebTech Technologies LLP, Kellton Tech Solutions Ltd., Kitchen Brains, Omega Softwares, Oracle Corp., Roper Technologies Inc., SmartSuite Holdings LLC and Others.

Market Overview

Digital Food Management involves the integration of digital technologies into the entire food supply chain to optimize operations and provide innovative solutions for stakeholders. The Digital Food Management market is witnessing a transformative shift as technological advancements redefine the way food is produced, distributed, and consumed. This market segment encompasses a spectrum of digital solutions designed to enhance various aspects of the food industry, from farm to fork. As a broad term, Digital Food Management includes applications, software, and platforms that streamline processes, improve efficiency, and contribute to sustainability within the food ecosystem.

Rise of online food delivery platforms and cloud kitchens

The proliferation of online food delivery platforms and the emergence of cloud kitchens have become instrumental drivers for the Digital Food Management Market. With the convenience-seeking consumer base embracing the trend of ordering food online, there is a surge in demand for digital solutions that optimize the entire process, from order placement to delivery logistics. Digital food management platforms enable seamless order processing, inventory management, and delivery route optimization. Moreover, the rise of cloud kitchens, which operate solely for online orders without traditional dining spaces, necessitates advanced digital solutions for efficient kitchen management, order tracking, and customer engagement. The integration of Artificial Intelligence in recommendation systems further enhances the customer experience, contributing to the success of digital food management in the dynamic landscape of online food delivery and cloud kitchens. As the food service industry continues to evolve, driven by changing consumer behavior, the Digital Food Management Market remains a key enabler for businesses aiming to thrive in the digital-first era of food consumption.

Market Dynamics

Drivers:

·         Technological Advancements and Integration

·         Changing Consumer Preferences and Demand for Transparency

·         Rise of Online Food Delivery Platforms and Cloud Kitchens

Opportunities:

·         Sustainable Agriculture and Supply Chain Optimization

·         Integration of Artificial Intelligence in Culinary Innovation

·         Emergence of Cloud Kitchens and Virtual Restaurants

Integration of artificial intelligence in culinary innovation

Another compelling market opportunity lies in the integration of Artificial Intelligence (AI) to drive culinary innovation. The Digital Food Management Market can capitalize on AI's capabilities to revolutionize recipe development, personalized nutrition, and culinary creativity. AI-powered algorithms can analyze vast datasets to identify emerging food trends, enabling chefs and food manufacturers to stay ahead of consumer preferences. Personalized nutrition, leveraging AI, allows for the creation of tailored meal plans based on individual health profiles and dietary preferences. Digital platforms that seamlessly integrate AI-driven recommendation systems can enhance the overall culinary experience for consumers by providing personalized suggestions for recipes, ingredients, and meal combinations. This not only caters to the rising demand for personalized and health-conscious food choices but also positions the Digital Food Management Market as a key player in fostering culinary innovation and meeting evolving consumer expectations.

The market for digital food management is dominated by North America.

North America is poised to make a substantial contribution to the global growth of the digital food management solutions market in the forecast period. A pivotal factor driving this growth is the rapid adoption of digital tools and technologies across diverse industries, with a significant impact on the food and beverage sector. North America stands out as a hotbed for companies pioneering innovative digital solutions for food process management. The region's robust technological infrastructure and a thriving ecosystem of tech companies contribute to its leadership in providing cutting-edge digital tools for the food industry. The growing emphasis on efficiency and convenience within the food sector is a driving force behind the escalating demand for digital food management solutions in North America.

Moreover, there is a noticeable shift in consumer preferences, with a rising inclination toward adopting digital platforms for various food management needs. This encompasses activities such as online food ordering, delivery tracking, and dietary preference management. This change in consumer behavior is a significant driver fueling the growth of the digital food management solutions market in North America. As consumers increasingly seek convenience and seamless digital experiences, the market is poised to capitalize on this trend during the forecast period.

The end use segment is anticipated to hold the largest market share during the forecast period

In 2022, the restaurant segment emerged as the dominant force in the digital food management market, commanding a significant market share based on end-user segmentation. This sector has become a focal point for the adoption of digital solutions, showcasing its pivotal role in reshaping the landscape of food management. The surge in customer demand for convenience and contactless dining experiences has prompted restaurants and cafes to increasingly integrate digital technologies into their operations. One of the key transformations witnessed in the restaurant and cafe sector is the widespread implementation of mobile apps and websites for online ordering, digital menus, and cashless payments. As consumers seek streamlined and efficient dining experiences, these digital solutions offer a seamless way for patrons to place orders, explore menus, and conduct transactions. The integration of technology goes beyond the customer-facing aspects, with restaurants embracing table management systems that enable diners to reserve tables and check in digitally. These technologies not only enhance operational efficiency but also contribute to an improved overall customer experience, solidifying the restaurant and cafe segment's position at the forefront of the digital food management market.

Major Segmentations Are Distributed as follows:

·         By Software:

o   Temperature Logging

o   Temperature Monitoring

o   Automated Food & Date Labelling

o   Food Safety & Cleaning Checklists

o   Front End Software

o   Accounting & Cash Flow

o   Purchasing & Inventory Management

o   Table & Delivery Management

o   Employee Payroll & Scheduling

o   Others

·         By Deployment Mode:

o   Cloud-based

o   On-Premises

·         By End Use:

o   Catering

o   Institutional Kitchens

o   Restaurants

o   Convenience Stores

o   Dairies

o   Bakeries

·         By Region

o   North America

§  U.S.

§  Canada

o   Latin America

§  Brazil

§  Mexico

§  Argentina

§  Colombia

§  Chile

§  Peru

§  Rest of Latin America

o   Europe

§  Germany

§  France

§  Italy

§  Spain

§  U.K.

§  BENELUX

§  CIS & Russia

§  Nordics

§  Austria

§  Poland

§  Rest of Europe

o   Asia Pacific

§  China

§  Japan

§  South Korea

§  India

§  Thailand

§  Indonesia

§  Malaysia

§  Vietnam

§  Australia & New Zealand

§  Rest of Asia Pacific

o   Middle East & Africa

§  Saudi Arabia

§  UAE

§  South Africa

§  Nigeria

§  Egypt

§  Israel

§  Turkey

§  Rest of MEA

 Recent Developments

·         In 2021, Google and Albertsons Companies have forged a strategic alliance aimed at revolutionizing Albertsons' grocery stores through the implementation of cutting-edge digital solutions. This collaboration underscores a commitment to harnessing the power of Google's advanced artificial intelligence (AI) and cloud computing technologies to drive transformative changes in various aspects of Albertsons' operations

Answers to Following Key Questions:

·         What will be the Digital Food Management Market’s Trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers in the Digital Food Management Market?

·         What are the main forces behind worldwide Digital Food Management Market? Which companies dominate Digital Food Management Market?

·         Which companies dominate Digital Food Management Market? Which business possibilities, dangers, and tactics did they embrace in the market?

·         What are the global Digital Food Management industry's suppliers' opportunities and dangers in Digital Food Management Market?

·         What is the Digital Food Management industry's regional sales, income, and pricing analysis? In the Digital Food Management Market, who are the distributors, traders, and resellers?

·         What are the main geographic areas for various trades that are anticipated to have astounding expansion over the Digital Food Management Market?

·         What are the main geographical areas for various industries that are anticipated to observe astounding expansion for Digital Food Management Market?

·         What are the dominant revenue-generating regions for Digital Food Management Market, as well as regional growth trends?

·         By the end of the forecast period, what will the market size and growth rate be?

·         What are the main Digital Food Management Market trends that are influencing the market's expansion?

·         Which key product categories dominate Digital Food Management Market? What is Digital Food Management Market’s main applications?

·         In the coming years, which Digital Food Management Market technology will dominate the market?

Reason to purchase this Digital Food Management Market Report:

·         Determine prospective investment areas based on a detailed trend analysis of the global Digital Food Management Market over the next years.

·         Gain an in-depth understanding of the underlying factors driving demand for different Digital Food Management Market segments in the top spending countries across the world and identify the opportunities each offers.

·         Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.

·         Identify the major channels that are driving the global Digital Food Management Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.

·         Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global Digital Food Management Market.

·         Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top Digital Food Management Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

 

TOC

Table and Figures

Methodology:

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The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

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Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

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