B2B Food Marketplace Platform Market Trends and Analysis by 2028

The B2B food marketplace platform market is expected to grow from US$ 29,326.79 million in 2022 to US$ 78,988.62 million by 2028; it is expected to grow at a CAGR of 18.0% from 2022 to 2028.

B2B food marketplace platforms connect buyers and sellers across the world. The sellers at 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 for trading processed and unprocessed foods. The B2B food marketplace platform market is experiencing significant growth owing to the proliferation of smartphones and tablets, facilitating better communication between SMEs and buyers. Moreover, the contractual pricing of the products is fueling the B2B food marketplace platform market growth. The increasing adoption of packaged food products, the growing food service industry owing to rising disposable income and increasing inclination toward modern lifestyle, and the flourishing offshore renewable industry are likely to continue to propel the B2B food marketplace platform market growth in the coming years. The COVID-19 pandemic has positively impacted the B2B food marketplace platform market growth as buyers and sellers opt for digital solutions for business operations.

Supply firms attract consumers by giving discounts or special deals on their products or when a certain volume is purchased. Suppliers and businesses frequently enter into enterprise-level pricing arrangements, and the market price of any given item is kept consistent. Price transparency is maintained in the food B2B sector as well. This dynamic typically benefits suppliers, who may adopt a price discrimination strategy based on customers' ability and willingness to pay. For example, eFoodChoice.com is a food B2B online platform firm that helps international food vendors and buyers expand their merchandising channels, develop their online business internationally, and sustainably increase their profitability. Depending on the quantity of the goods, the firm provides an exclusive pricing range for the buyers. The company has also set minimum order quantities (MOQs) for each product category. With such contractual pricing of products, end users can select the optimal number of goods at a fair price, triggering the demand for B2B food marketplace platform market.

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B2B Food Marketplace Platform Market: Strategic Insights

Impact of COVID-19 Pandemic on APAC B2B Food Marketplace Platform Market

The COVID-19 pandemic severely impacted APAC countries as they are highly populated, which increased the risk of spreading SARS-CoV-2. According to the Organization for Economic Co-operation and Development (OECD), in 2020, the pandemic affected major economies such as China, India, Australia, and Japan, which are experiencing inflation. The limitations imposed by governments of APAC countries to control the spread of COVID-19 adversely impacted the food & beverages industry. The shutdown of hotels, restaurants, and caterers' businesses decreased the adoption of the B2B food marketplace platforms in the Asia Pacific economy, as online deliveries were restricted due to the lockdown. However, in Q3 of 2020, the hotels, restaurants, and caterers restarted their businesses, which are expected to grow in the coming years. In addition, the growing tourism will lead to the growth of the food service industry in the region, which will further fuel the B2B food marketplace platform market growth during the forecast period. 

Market Insights – B2B Food Marketplace Platform Market

Increasing Adoption of E-Commerce Platforms Boosts Demand for B2B Food Marketplace Platform Market

An increase in online purchasing is attributed to the growing number of online retailers and virtual marketplaces worldwide. 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. Furthermore, the increasing emphasis on digitization by brick-and-mortar retailers, grocery shops, and start-up firms, as well as burgeoning revenues from online selling, is favoring the expansion of the B2B food marketplace platform market in the US. The reduction in cross-border trade barriers worldwide 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 turning to online marketplaces to sell their products, which is boosting the B2B food marketplace platform market growth.

Food Category-Based Market Insights

Based on food category, the B2B food marketplace platform market is divided into chilled & dairy, grocery, beverages, and others. The grocery segment accounted for the largest share of the market in 2021. In terms of food category, groceries are in high demand in every corner of the world. With the rising population, the demand for the same has increased significantly. The growing demand for rice, cereals, flour and starches, instant food, and ready-to-cook meals is driving the market for the grocery segment. Growing young population and changing lifestyles, , are creating a huge demand for instant food and ready-to-cook meals. This factor is projected to boost the growth of the B2B food marketplace market in the coming years. Additionally, the demand for other food items such as organic products, food ingredients, oils, nuts, herbs, sauces, spices, seeds, and sweeteners & honey products is also growing, resulting in the dominant share of the segment in the B2B food marketplace market.

B2B Food

The regional trends and factors influencing the B2B Food Marketplace Platform Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses B2B Food Marketplace Platform Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

B2B Food Marketplace Platform Market Report Scope

B2B Food Marketplace Platform Market Players Density: Understanding Its Impact on Business Dynamics

The B2B Food Marketplace Platform Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Players operating in the B2B food marketplace platform market are mainly focused on developing advanced and efficient products.

• In 2022, Cheetah closed a Series C Round of financing totaling US$ 60 million and announced that it had concluded three acquisition transactions with Palo Alto Foods, Esteson, and Joseph Martin Foods.
• In 2022, Pod Foods, launched Pod Foods Capital, a financing tool that enables emerging brands to gain access to easy and affordable capital to help grow their brand.

The key players profiled in the B2B food marketplace platform market include FoodMaven, Amazon, eFoodChoice.com, Cheetah technologies Inc., Eworldtrade.com, FoodsTrade, Ufoodin, Pod foods Co., Emerge Srl, and Notch.