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Food Technology Market Trends

Report ID: GMI6850
Published Date: Oct 2023
Report Format: PDF

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Food Technology Market Trends

Personalized nutrition is gaining popularity in the food technology industry due to its potential to revolutionize the way individuals approach their diets. With advancements in genetics, wearable health tech & data analytics, consumers can receive tailored dietary recommendations based on their unique genetic makeup, health goals, and preferences. This trend caters to the growing demand for healthier & more customized food options, empowering consumers to make informed choices that align with their specific nutritional requirements.

Authors: Kiran Pulidindi , Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market valuation of food technology was worth USD 181.3 billion in 2022 and is anticipated to expand at 8% CAGR from 2023 to 2032, owing to the increasing consumer demand for convenient and healthy food coupled with the growing popularity of online food delivery services.

The hardware segment held 42% share of the food technology market in 2022 and is projected to witness high demand through 2032, owing to the increasing adoption of cutting-edge technological solutions modernizing food production & distribution.

Asia Pacific held more than 31% revenue share of the food technology industry in 2022 and is expected to expand at robust CAGR through 2032, owing to the surging demand for convenient, healthy & innovative food products by the large and diverse population in the region.

Some of the leading food technology firms are Nestlé, PepsiCo, Hello Fresh SE, McDonald's Corporation, Unilever, Delivery Hero SE, and Danone.