Report: US B2B Food Marketplace Platform Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Food Category (Chilled and Dairy, Grocery, Beverages, and Others) and Enterprise Size (Small and Medium Enterprises, and Large Enterprises)
According to our latest study on “US B2B Food Marketplace Platform Market Forecast to 2028 – COVID-19 Impact and Analysis – by Food Category and Enterprise Size,” the market is projected to grow from US$ 4,877.84 million in 2022 to US$ 10,742.88 million by 2028; it is estimated to record a CAGR of 14.1% from 2022 to 2028.
B2B food marketplace platforms connect buyers and sellers across the world. Sellers on these platforms can be producers or vendors, while the buyers can be retailers; vendors; and food service industry players, such as restaurants, hotels, and canteens. These platforms are used to trade, both, processed and unprocessed food products.
The US B2B food marketplace platform market is experiencing significant growth owing to the proliferation of smartphones and tablets, which facilitates better communication between SMEs and buyers. Moreover, the contractual pricing of the products is fueling the US B2B food marketplace platform market growth. The increasing adoption of packaged food products, the booming food service industry with rising disposable income and inclination toward modern lifestyle, and the flourishing offshore renewable industry are likely to continue to propel the adoption of B2B food marketplace platforms in the US in the coming years. The COVID-19 pandemic has positively impacted the US B2B food marketplace platform market as buyers and sellers are opting for digital solutions for executing business operations.
An increase in online purchases is attributed to the growing number of online retailers and virtual marketplaces across the world. Small enterprises, c-stores, and e-commerce corporations are increasingly focusing on sophisticated solutions such as marketplace platforms. These platforms assist in efficient and effective management and control of their operations and processes. Further, the increasing emphasis on digitization by brick-and-mortar retailers, grocery shops, and start-up firms, as well as burgeoning revenues from online selling, favors the US B2B food marketplace platform market growth. Lowering cross-border trade barriers throughout the world is creating significant opportunities for sellers and enterprises, particularly in the US, to extend their product reach internationally. E-commerce companies, shopping malls, and other businesses, such as small stores and shops, are approaching online marketplaces to sell their products, which is boosting the US B2B food marketplace platform market.
Impact of COVID-19 Pandemic on US B2B Food Marketplace Platform Market
The COVID-19 pandemic created tremors in several industries. The food & beverages industry is one of the major industries that suffered serious consequences of supply chain disruptions, technology event cancellations, and production plant shutdowns during the pandemic. The tremendous spread of the disease compelled the US government to impose strict social and commercial restrictions across the country, which resulted in the lesser production of goods and commodities. Companies in the US B2B food marketplace platform market also experienced a slowdown in their operations as production units were operating with a limited workforce. Further, the pandemic instigated a notable shift in the buying behavior of consumers as they preferred online purchases over traditional physical stores, pushing e-commerce sales to new heights. Thus, many companies in food & beverages and food service businesses, and retailers adopted an online selling model during the pandemic, which encouraged them to employ digital solutions for the effective execution of their online operations. As a result, the demand for US B2B food marketplace platform market increased during this global health crisis.
The report segments the US B2B Food Marketplace Platform market as follows:
The US B2B food marketplace platform market analysis based on food category considers the following segments: chilled and dairy, grocery, beverages, and others. The grocery segment led the market with the largest market share in 2021. Based on the enterprise size, the US B2B food marketplace platform market is bifurcated into small and medium enterprises, and large enterprises. The large enterprises segment led the market with a larger market share in 2021.
FoodMaven, Amazon, eFoodChoice.com, Cheetah technologies Inc., Eworldtrade.com, FoodsTrade, Ufoodin, Pod foods Co., Emerge Srl, and VendorHero Inc. (Notch) are among the key players profiled during this US B2B food marketplace platform market study. Several other essential market players were also studied and analyzed to get a holistic view of the US B2B food marketplace platform market and its ecosystem.
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com