Latest News- Food Supply Chain Market: Packaged food is expected to lead the Product Type segment during 2024-2028

The Food Supply Chain Market is being driven by Integration of blockchain in food supply chain

The Food Supply Chain Market is expected to grow at a CAGR of 7.86% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 59.51 billion. Mergers and acquisitions have emerged as a significant growth driver in the global food supply chain market. These strategic alliances enable companies to combine complementary strengths, pool resources, and establish more robust and adaptable supply networks. The resulting synergies often lead to enhanced logistics capabilities, heightened traceability, and the implementation of advanced technologies like blockchain and IoT sensors. For instance, in February 2024, Dachser SE, a leading German freight company, acquired Frigoscandia AB, a prominent food logistics provider in the Nordic region. This acquisition expands DACHSER's food logistics network, allowing it to minimize costs, reduce waste, and ensure food safety and quality throughout the supply chain. Such partnerships are instrumental in creating more efficient and resilient food supply chains. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product Type
  • Packaged food
  • Fresh food
• End-user
  • Households
  • Commercial
  • Industrial
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Integration of blockchain in food supply chain
• Robust demand for cloud-based food supply chain
• Stringent food safety regulations

However, the market also witnesses some limitations, which are as follows:

• Data security and cyber threats associated with food supply chain management
• High maintenance costs of food supply chain
• Lack of skilled workforce in food supply chain

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Market Scope in Food Supply Chain Market Research Report

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Research Analysis Overview

The food supply chain encompasses the entire process from agriculture to consumer delivery, involving various stages such as production, processing, warehousing, transportation, and sales. In this complex system, technology plays a crucial role in ensuring efficiency, safety, and quality. Agriculture is the foundation of the food supply chain, and advancements in technology, such as warehouse management systems, radio frequency identification (RFID), and positioning systems, help optimize farming operations. Safety regulations are paramount in the food industry, with a focus on health and food safety for perishable foods like vegetables, fruits, dairy, and meats. Warehousing and cold chain management are essential components of the food supply chain, with temperature-controlled logistics ensuring the preservation of freshness and quality. Technologies like blockchain and the Internet of Things (IoT) are revolutionizing the industry by enhancing transparency, traceability, and automation. Consumer preferences for processed and fresh foods continue to evolve, driving the need for flexible and efficient supply chain solutions. E-commerce platforms and transportation systems must adapt to meet the demands of the modern consumer, while adhering to safety regulations and ensuring the integrity of the food supply chain. Artificial intelligence and advanced analytics are also transforming the food supply chain, enabling predictive maintenance, demand forecasting, and optimized inventory management. Overall, technology is playing an increasingly important role in ensuring the safety, efficiency, and sustainability of the global food supply chain.

Market Research Overview

The global cargo ground transportation market encompasses businesses specializing in truck, car, camper, bus, van, and motorbike transportation within the goods and freight sector. According to Technavio, the market size is determined by the consolidated revenue generated by these companies. Key growth drivers include the escalating volumes of goods transported, particularly in emerging economies, which are projected to experience significant logistical expansion in line with long-term economic growth.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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