The global B2B food marketplace platforms market was valued at USD 22.7 Billion in 2021 and is anticipated to grow by USD 71.6 Billion by 2030, registering a CAGR of 15.7%. The growing participation of small and medium businesses in every sector has contributed to the B2B Food marketplace platforms market to develop rapidly across the globe.
The increase in the number of online businesses and virtual marketplace globally has been added further to buying products online. Small and medium businesses, e-commerce organizations, and convenience stores are focusing on complex solutions such as marketplace platforms. In addition to this, the rapidly growing importance towards digitization by start-up businesses, brick and mortar retailers, and grocery stores along with income from online sales is anticipated to boost the market growth.
The global B2B Food Marketplace Platforms market is categorized into small and medium businesses and large businesses, based on the organization size segment. The small and medium size businesses segment has dominated the market share in 2020 and is expected to continue to grow significantly.
The major factor accounted for influence of the segment on the market is increasing adoption of solutions among the small and medium sized businesses. In today’s date, the emerging start-up businesses investing more on food marketplace is anticipated to impact the global market positively during the forecast period.
Growing usage of smart devices among all age groups across the globe is anticipated to drive the B2B food marketplace platforms market growing in the near future. Furthermore, the introduction of fast network connectivity such as 4G and 5G by telecommunication companies in order to provide reliable connections is likely to impact the market growth significantly.
Users with smart devices along with continuous and seamless connectivity will ultimately help to develop the market further. Adoption of smartphones is rapidly increasing, which eventually leads to increasing client exposure to online shopping, propelling the B2B food marketplace platforms growth.
- In February 2022, ElasticRun, B2B eCommerce platform, announced a funding of US $330 million led by SoftBank aiming to rural Indian kirana shops in order to expand to new geographic locations.
- In February 2022, FoodMaven partnered with Annex by Ardent Mills in an objective of selling its transitional wheat flour to FoodMaven’s food service consumers.
The global B2B food marketplace platforms market is divided into Asia Pacific, North America, Latin America, Europe, Middle East and Africa. North America is anticipated to hold maximum shares of the global B2B food marketplace platforms market due to the contribution and presence of major key players of the market. Along with this, adoption of advanced technologies in the region to boost the market growth during the projection period.
Meanwhile, Asia Pacific is projected to experience significant growth and emerge as the fastest growing region during the projection period. The primary factor attributed to major growth in the region is high demand as the population is increasing continuously which in turn resulted in a rising number of small enterprises investing on various food marketplace platforms.
The key players operating in the B2B food marketplace platforms market majorly focus on some particular business strategies including market initiatives, mergers, acquisitions and collaborations in order to be in the list of competition and secure their position in the market.
Some of the leading companies across the globe dominating the B2B food marketplace platforms market growth significantly includes Efoodchoice.com, Mindcurv GmbH, Jumbotail Technologies Pvt. Ltd., DXBUY, Qwipo (Xavica Software Solutions Private Limited), Agorara.com, Solv (SCR&T), FoodsTrade, Biolinked, DeHaat, MaxAB, ElasticRun, udaan, gramfactory, FoodB2BMarketplace.com, BlueCart, IncUkrainian Food Platform, FoodMaven, among Others.
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