Global Food Software Market Overview:
Food software is a technology used for executing the food industry operations such as Foodservice Distribution, Foodservice Management, Food Traceability, Inventory Management, Logistics Management, and many others. Food software can be an online ordering tool used by the customers as well as restaurant management software is used by the food service providers. Over the other hand, the adoption of smartphones and tablets has ultimately upsurged the demand for food software across the globe.
As per latest study released by AMA Research, the Global Food Software market is expected to see growth rate of 4.0%Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
High Growth Market | Asia Pacific |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Introduction to Highly Automated Food Service Technologies such as Service Robots and Restaurant Digitalization and Upsurging Prevalence of Online Food and E-Commerce Platforms
Market Growth Drivers:
Upsurging Demand for Online Food Delivery Systems across the Globe and Growing Internet Usage and Growing Adoption of Smart Phones
Challenges:
Numerous Prerequisites to Avail Food Service Software such as Smartphones, Tablets and Internet Connections and Designing Complexities and Lack of Awareness from the Underdeveloped Regions
Restraints:
Food Service Software Development Contains Numerous Customizations Depending on the Food Business and Complexities Associated with the Digital Ordering & Payment
Opportunities:
Strengthening Food Service Infrastructure across the Developing Nations and Upsurging Demand for Foodservice Management and Restaurant Management Software
Competitive Landscape:
The rising number of players expected to enter the global market is predicted to enhance the competition level as well as encourage the growth of the overall market in the near future. Players are anticipated to focus on the development of new compounds, which is likely to encourage the growth of the global market throughout the forecast period.
Some of the key players profiled in the report are Encompass Technologies (United States), Rutherford & Associates (United States), Simon Solutions Inc (United States), Produce Pro Software (United States), Wherefour, Inc. (United States), Beck Consulting (Bcfooderp) (United States), Center for Advancing Retail & Technology (CART) (United States), Applied Data Technologies (United States), The Food Corridor (United States) and Jolt (United States). Additionally, following companies can also be profiled that are part of our coverage like Gemstone Workforce Logistics (Canada), Redzone Production Systems (United States), Food Service Solutions, Inc. (United States), iBistro (Georgia) and FoodCo Software (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Food Software market by 2030. Considering Market by Deployment, the sub-segment i.e. Cloud-Based will boost the Food Software market.
Latest Market Insights:
In January 2024, Infor, a cloud-based business software company, announced a partnership with Hazel Technologies, a developer of smart packaging solutions, to integrate Hazel's technology into Infor's CloudSuite Food & Beverage platform. This aims to improve food safety and traceability.
In January 2024, Oracle announced the launch of Oracle Food and Beverage Applications Cloud, a new suite of cloud-based solutions for food and beverage manufacturers. This suite includes applications for production planning, inventory management, quality control, and more.
Due to the increasing number of food recalls, regulators are implementing new food and beverage quality standards and requirements to ensure that the food that enters the supply chain is safe for consumers. Thus, the United States' FDA has implied the Food Safety Modernization Act (FSMA) which strengthened the FDA to force a food recall and suspend facility operations.
What Can be Explored with the Food Software Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Food Software Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Food Software
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Food Software market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Food Software market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Food Software Developers, Food Software Subcomponent Manufacturers, Food and Beverage Industry Association, Downstream Vendors, Research and Development Institutes, IT Industry Associations, Government Agencies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.