Increasing Adoption of E-Commerce Platforms is fueling the growth of Asia Pacific B2B food marketplace platform market
An increase in online purchasing is attributed to the growing number of online retailers and virtual marketplaces across the region. 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. Lowering cross-border trade barriers throughout the world is creating significant opportunities for sellers and enterprises, 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 industry.
Asia Pacific B2B Food Marketplace Platform Market Overview
The major contributors to the growth of the Asia Pacific B2B food marketplace platform market are Australia, China, Japan, India, and South Korea. Rapid technological advancements, digitalization of economies, and sufficient government support are a few of the key factors affecting the adoption of digital solutions such as B2B food marketplace platforms across the region. Moreover, the growth of the food service industry in Asia Pacific is characterized by the presence of a large young population and a surge in disposable income. Further, fast-food restaurant chains are heavily investing in Malaysia, China, India, Indonesia, and South Korea, among others owing to the growing rate of the food service industry in this region. Moreover, a few of the major players operating in the Asia Pacific B2B food marketplace platforms market such as Telio Vietnam Co., Ltd; IndiaMart; Flipkart; Agorara; eFoodChoice.com; and Jumbotail Technologies Pvt. Ltd. are actively expanding their reach by adopting various strategic activities. For instance, in December 2019, Telio, the Vietnamese B2B e-commerce platform, announced that it raised US$ 25 million in its series A funding round led by Tiger Global. Also, various other companies such as GGV Capital, Sequoia India, and RTP Global participated in the round. Similarly, in November 2021, the company raised US$ 51 million in its pre-Series B funding. Thus, the growing adoption of B2B e-commerce platform by the market players will boost the growth of market in the forecasted period.
Asia Pacific B2B Food Marketplace Platform Market Revenue and Forecast to 2028 (US$ Million)
Asia Pacific B2B Food Marketplace Platform Market Segmentation
The Asia Pacific B2B food marketplace platform market is segmented into food category, enterprise size, and country. Based on food category, the Asia Pacific B2B food marketplace platform market is segmented into chilled and dairy, grocery, beverages, others. The grocery segment registered the largest market share in 2022.
Based on enterprise size, the Asia Pacific B2B food marketplace platform market is segmented into SMEs and large enterprises. The SMEs segment registered a larger market share in 2022.
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. China dominated the market share in 2022.
3 Seasons Technology Co Ltd, Amazon.com Inc, EWorldTrade Inc, and FoodsTrade are the leading companies operating in the Asia Pacific B2B food marketplace platform market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 12,965.37 Million |
| Market Size by 2028 | US$ 39,296.84 Million |
| CAGR (2022 - 2028) | 20.3% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Food Category
|
| Regions and Countries Covered |
Asia-Pacific
|
| Market leaders and key company profiles |
|
The Asia Pacific B2B Food Marketplace Platform Market is valued at US$ 12,965.37 Million in 2022, it is projected to reach US$ 39,296.84 Million by 2028.
As per our report Asia Pacific B2B Food Marketplace Platform Market, the market size is valued at US$ 12,965.37 Million in 2022, projecting it to reach US$ 39,296.84 Million by 2028. This translates to a CAGR of approximately 20.3% during the forecast period.
The Asia Pacific B2B Food Marketplace Platform Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific B2B Food Marketplace Platform Market report:
The Asia Pacific B2B Food Marketplace Platform Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific B2B Food Marketplace Platform Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific B2B Food Marketplace Platform Market value chain can benefit from the information contained in a comprehensive market report.
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