Report : North America B2B Food Market place Platform
At 15.6% CAGR, the North America B2B Food Marketplace Platform Market is speculated to be worth US$ 18,870.38 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the North America B2B food marketplace platform market was valued at US$ 7,927.03 million in 2022 and is expected to reach US$ 18,870.38 million by 2028, registering a CAGR of 15.6% from 2022 to 2028. Better communications between SMEs and buyers due to smartphones and contract-based pricing of products are the critical factors attributed to the North America B2B food marketplace platform market expansion.
The demand for B2B food marketplace platforms is mainly driven by small and medium enterprises. Moreover, the availability of well-developed internet infrastructure and acceptance of advanced technologies create a favorable environment for start-ups in the country, especially, for companies that use the internet marketplace to do business. Due to lower communication and infrastructure costs, established organizations and major corporations are also gravitating toward the online marketplace. North America B2B food marketplace platform market allows organizations to reach out to more clients, thereby providing essential exposure to the firm. The rising importance of online marketing tools, such as Google and Facebook advertisements, is also propelling the online marketplace for North America B2B food marketplace platform market. Furthermore, due to the prominence of social media apps, marketing alternatives are aplenty these days, which aid in the continuous development of the online marketplace. 4G and 5G technologies, which aid in robust internet connectivity, are likely to have a beneficial impact on the B2B food marketplace platform market in the coming years, as it offers users a continuous, seamless experience. Moreover, customers’ exposure to online buying is increasing with the elevating use of smartphones, which supports the North America B2B food marketplace platform market growth.
On the contrary, reluctance among consumers to shift to online buying platforms hurdles the growth of North America B2B food marketplace platform market.
Based on food category, the North America B2B food marketplace platform market is segmented into chilled and dairy, grocery, beverages, others. The grocery segment held 36.8% market share in 2022, amassing US$ 2,916.95 million. It is projected to garner US$ 7,506.28 million by 2028 to expand at 17.1% CAGR during 2022–2028.
Based on enterprise size, the North America B2B food marketplace platform market is segmented into SMEs and large enterprises. The SMEs segment held 56.7% market share in 2022, amassing US$ 4,495.18 million. It is projected to garner US$ 11,620.54 million by 2028 to expand at 17.2% CAGR during 2022–2028.
Based on country, the North America B2B food marketplace platform market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 72.4% market share in 2022. It was assessed at US$ 5,735.21 million in 2022 and is likely to hit US$ 12,996.03 million by 2028, exhibiting a CAGR of 14.6% during the forecast period.
Key players dominating the North America B2B food marketplace platform market are Amazon.com Inc, Cheetah Technologies Inc, EWorldTrade Inc, FoodMaven Corp, FoodsTrade, Pod Foods Co, and VendorHero Inc (Notch), among others.
In 2022, Pod Foods, reinventing the grocery supply chain with the first full-service wholesale B2B marketplace with built-in logistics, today announced the launch of Pod Foods Capital, a financing tool that enables emerging brands to gain access to easy and affordable capital to help grow their brand. Pod Foods Capital will launch with two financial products including a line of credit and term loans, giving brands assistance regardless of their current stage of growth.
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