Report : Asia Pacific B2B Food Market place Platform
At 20.3% CAGR, the Asia Pacific B2B Food Marketplace Platform Market is speculated to be worth US$ 39,296.84 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific B2B food marketplace platform market was valued at US$ 12,965.37 million in 2022 and is expected to reach US$ 39,296.84 million by 2028, registering an annual growth rate of 20.3% from 2022 to 2028. Innovations in product selling models and increasing adoption of E-Commerce platforms are the critical factors attributed to the Asia Pacific B2B food marketplace platform market expansion.
Companies are concentrating their efforts on enhancing their production capacities, go-to-market processes, and digital activities (such as e-commerce presence and scale expansion). The COVID-19 pandemic has encouraged every firm to make reforms in their marketing strategies post normalcy. Every organization, big or small, has been concentrating on developing new business models to meet the changing customer needs. For example, PepsiCo Inc. has launched its direct-to-consumer (DTC) websites Snacks.com and PantryShop.com in response to the increased demand during the COVID-19 pandemic. Both websites are aimed to gain profit from the growing trend of e-commerce among customers to satisfy their food and beverage demands amid the current health crisis. PepsiCo is promoting its Pepsi, Frito-Lay, Gatorade, Quaker Oats, and other well-known brands on these sites. Such initiatives influence other businesses to innovate their online marketplaces based on demand. Thus, such innovations in product selling models are likely to provide growth opportunities to B2B food marketplace platform providers in the coming years.
On the contrary, reluctance among consumers to shift to online buying platforms hurdles the growth of Asia Pacific B2B food marketplace platform market.
Based on food category, the Asia Pacific B2B food marketplace platform market is segmented into chilled and dairy, grocery, beverages, others. The grocery segment held 40.4% market share in 2022, amassing US$ 5,231.56 million. It is projected to garner US$ 16,916.20 million by 2028 to expand at 21.6% CAGR during 2022–2028.
Based on enterprise size, the Asia Pacific B2B food marketplace platform market is segmented into SMEs and large enterprises. The large enterprises segment held 57.8% market share in 2022, amassing US$ 7,487.89 million. It is projected to garner US$ 21,755.05 million by 2028 to expand at 19.5% CAGR during 2022–2028.
Based on country, the Asia Pacific B2B food marketplace platform market is segmented into China, Japan, India, Australia, Indonesia, Malaysia, Thailand, and the Rest of Asia Pacific. Our regional analysis states that China captured 50.8% market share in 2022. It was assessed at US$ 6,581.59 million in 2022 and is likely to hit US$ 19,837.04 million by 2028, exhibiting a CAGR of 20.2% during the forecast period.
Key players dominating the Asia Pacific B2B food marketplace platform market are 3 Seasons Technology Co Ltd, Amazon.com Inc, EWorldTrade Inc, and FoodsTrade among others.
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