Food Technology Market Size to Climb USD 538.47 Billion by 2034

Food Technology Market Size, Share, Trends, and Growth Forecast 2034

The global food technology market size is witnessing robust growth from USD 229.49 billion in 2025 to approximately USD 538.47 billion by 2034, growing at a compound annual growth rate (CAGR) of 9.94% during the forecast period from 2025 to 2034. This growth is driven by rapid advancements in automation, AI-driven food processing systems, and blockchain-based traceability solutions.

Last Updated: 19 June 2025 Category: Food and Beverages Processing Equipment and Technology Insight Code: 5658 Format: PDF / PPT / Excel

Food Technology Market Size, Share and Forecast Analysis 2034

The global food technology market size reached at USD 208.74 billion in 2024 and is anticipated to increase from USD 229.49 billion in 2025 to an estimated USD 538.47 billion by 2034, witnessing a CAGR of 9.94% during the forecast period from 2025 to 2034. The continuously growing investment and technologies in the food sector accelerate the market expansion.

Food Technology Market Size 2025 to 2034

Key Highlights

  • By region, Asia Pacific dominated the market with the highest share of 32% in 2024, due to the rapidly growing e-commerce industry. 
  • By region, North America is expected to grow at a notable CAGR during the forecast period, which is driven by the increasing highly established technology landscape. 
  • By component, the hardware segment registered the maximum market share of 43% in 2024, driven by the increasing consumer trend towards hotels and restaurants. 
  • By component, the software segment is expected to grow at the fastest CAGR of 11.3% between 2025 and 2034, driven by the rising innovation in software solutions. 
  • By application, the food science segment contributed the largest market share of 27% in 2024, due to the increasing demand for alternative proteins. 
  • By application, the delivery segment is anticipated to grow at the noteworthy CAGR of 11.2% between 2025 and 2034, due to the increasing demand for food delivery apps. 
  • By industry, the fish, meat, and seafood segment captured the maximum market share of 20% in 2024, due to the increasing demand for alternative and frozen meat across the globe. 
  • By industry, the dairy products segment is expected to grow at the notable CAGR of 11.2% between 2025 and 2034, due to the increasing demand for dairy products such as cheese, butter, milk, and many more.

Industry Coverage

Study Coverage Details
Growth Rate from 2025 to 2034 CAGR of 9.94%
Market Size in 2025 USD 229.49 Billion
Market Size in 2026 USD 252.3 Billion
Market Size by 2034 USD 538.47 Billion
Largest Market Asia pacific
Base Year 2024
Forecast Period 2025 to 2034
Regions Covered North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

How did Food Technology Revolutionize the Consumer Lifestyle in 2025

The food technology market is influenced by rising advancements in food safety, with advanced technologies such as blockchain ensuring product authenticity and improving traceability. The adoption of sustainability in production procedures, such as waste-reduction technologies and energy-efficient systems, further drives market growth. In addition, due to the increased need for an innovative, more sustainable, and healthier food industry, food technology is developing rapidly. Furthermore, rising investments in food technology, the growing popularity of online food delivery, and increasing demand for healthy and convenient food are further expected to drive the growth of the market during the forecast period.

One of the significant factors driving the global market is the rise of AI-powered solutions in production and food automation. Automation improves consistency in food quality, reduces labor costs, and enhances efficiency. The rise of smart packaging solutions, which enhance convenience and extend shelf life, is further fueling global market growth. By improving logistics and reducing food waste, these innovations play an important role in meeting food security concerns across the globe. In addition, the rising advancements in food waste reduction technologies, including sustainable and upcycling packaging, are further expected to drive the growth of the market.

  • Increasing adoption of personalized nutrition: Consumers are rapidly shifting towards personalized nutrition based on their unique preferences, health goals, and genetic makeup, with advancements in wearable health tech and data analytics, which increased the demand for the global market.
  • Increasing demand for alternative proteins and plant-based foods: The increasing demand for natural and clean-label food production processes and alternative proteins such as plant-based dairy and lab-grown meat are further expected to accelerate the demand for the food technology market. 
  • Rising innovation in food safety: To meet increasing demand for authenticity and transparency, innovations in food safety and food preservation, including blockchain for traceability, are expected to drive the growth of the global market during the forecast period.

Market Opportunity

Robotics & Automation in Food Science

Robotics and automation have become prevalent in the food industry in the last few years and revolutionizing the way food is managed, prepared, and processed. These technological advancements have brought various advantages to the market, enhancing productivity, precision, and efficiency. Robotics and automation significantly impacted food packaging and processing systems. From slicing and dicing to mixing and blending, automated machines have replaced manual labor in several levels of food production. These systems reduce the risk of contamination, ensure consistent quality, and streamline the process. In addition, the emergence of kitchen assistants and robot chefs is another growth opportunity accelerating market growth.

These robotic counterparts can perform a range of culinary tasks, such as plating dishes, flipping burgers, and chopping vegetables. Robot chefs can help ensure consistent results and streamline operations in busy kitchens with precision and speed. These advanced factors are expected to revolutionize the growth of the food technology market in the coming years.

Market Challenge

Food Security and Supply

Along with some beneficial factors, the food technology industry also may face challenges such as disruption of food supply and security. Due to factors such as health crises, food poisoning, conflict, and natural disasters, food supply chains are vulnerable to disruptions. By developing more transparent and robust supply systems, food technologies can help mitigate these challenges. However, it needs collaboration between various actors, from farmers and retailers to governments and international organizations, by implementing these technologies, which may expect to restrain the growth of the food technology market.

Regional Insights

How did Asia Pacific Dominate the Global Food Technology Market Revenue in 2024?

Asia Pacific dominated the food technology market in 2024. The market growth in the region is attributed to the increasing presence of various major market players, the rising adoption of on-demand food delivery industries, rising e-commerce platforms, a growing population, rising technological advancements in food technology, and increasing demand for plant-based and natural food products. India, China, Japan, and South Korea are dominating countries driving the market growth.
 
India dominated the global market in 2024. Food technology is a food processing technology that enhances food safety and improves food quality in India. The food technology industry has evolved as a major contributor to India’s economy, driven by forward-looking policy initiatives from the Government and MoFPI of India. The market is one of the largest markets in India and represents 32% of the total food market. In terms of exports, consumption, and production, India ranks fifth across the globe. The industry contributes approximately 8.39% to agriculture and 8.80% to manufacturing, which is expected to increase the market demand in India.

Food Technology Market Share, By Region, 2024 (%)

North America Food Technology Market Trends

North America is expected to grow fastest during the forecast period. The market growth in the region is driven by the rising integration of advanced technologies such as machine learning and artificial intelligence (AI), rising investments in research and development (R&D) activities, rising rapid adoption of automation tools, growing number of hotels, coffee shops, and restaurants and increasing presence of various market players. The U.S. and Canada are the fastest growing countries in the global market.

The U.S. dominated the Food Technology Market revenue in 2024. The market growth in the U.S. is attributed to the increasing consumer preference towards natural and clean-label food products, rising sustainability, and the growing food and beverage industry. In 2023, 86.5% of households are food secure in the U.S. 47.4 million people lived in food-insecure households with the help of food technology systems in 2023.

  • In June 2025, a food tech startup, Compound Foods its beanless coffee and cocoa ingredient platform in the U.S. The aim behind this launch was to provide companies with functional alternatives and derisking global supply chains to coffee and cocoa without the bean. (Source: Food Business News)

Segmental Insights

Component Insights

Why Hardware Segment Dominates the Food Technology Market Revenue in 2024? 

The hardware segment dominated the food technology market in 2024. The segment growth in the global market is attributed to the rising integration of advanced technologies such as artificial intelligence (AI) and IoT sensors, increasing growth in packaged and processed food industries, increasing focus on food hygiene and safety, and increasing demand for automation in food production. Hardware includes several devices across the food value chain, including self-ordering kiosks, cooking robots, and voice assistants, which are highly popular in hotels, restaurants, and coffee shops. In addition, by monitoring temperature, IoT sensors can help reduce wastage, which may drive segment growth. Cooking robots are very popular in modern lifestyles as they have various innovative benefits such as saving time and energy, standardized cooking effects, reducing cooking errors, adapting to healthy diet needs, and versatility.

The Software Segment Expects the Significant Growth During the Forecast Period. 

The segment growth in the food technology market is driven by the rising adoption of food delivery platforms, rising innovation in software solutions, and increasing demand for online shopping apps. The segment includes various online solutions, such as chatbots, restaurant reservation platforms, food delivery, and grocery delivery apps. To enhance software offerings for the market, companies are utilizing advanced technologies like generative artificial intelligence, which is further expected to increase market demand.

Application Insights

Why did the Food Science Segment Dominate the Food Technology Market Revenue in 2024? 

The food science segment dominated market in 2024. The segment growth in the market is propelled by increasing health awareness, rising innovation in nutritional research and increasing demand for functional foods, increasing consumer preference towards plant-based food, rising investments in food science industries, and increasing demand for alternative proteins. In addition, food science helps to enhance food safety by creating safe packaging, improving food shelf life, and minimizing outbreaks of foodborne illnesses, which further innovates culinary experiences.

The Delivery Segment Expects the Fastest Growth in the Market During the Forecast Period. 

The segment growth in the region is propelled by the increasing consumer trend towards online delivery, increasing demand for online food delivery apps, and increasing modern and busy lifestyles. Consumers can make late-night food delivery orders, as restaurants offer online food delivery 24 hours, and online delivery service saves time to enhance the consumer experience.

Industry Insights

What Factors Helped the Fish, Meat, and Seafood Segment to Grow in 2024? 

The fish, meat, and seafood segment dominated the food technology market in 2024. The segment growth in the market is attributed to the increasing demand for alternative and frozen meat, the growing food and beverage industry, increasing demand for seafood, meat, and fish across the globe, and increasing consumer awareness towards health and wellness. Seafood helps with brain function, reduces blood pressure, and reduces the risk of circulatory and heart diseases. Fish is the healthiest food across the globe with lots of nutrients. Fish have various nutritional benefits such as growth and development nutrients, reducing the risk of heart strokes, enhancing brain health, preventing asthma in children, and improving sleep quality, which further drives the segment growth.

The Dairy Product Segment Expects the Significant Growth in the Market During the Forecast Period. 

The segment growth in the food technology market is driven by increasing demand for dairy products such as cheese, butter, ice cream, milk, and others. Dairy products are monitored for increasing their shelf life and avoiding spoilage.

  • In May 2025, with the launch of Pasture Raised Organic Greek Nonfat Plain Yogurt, Clover Sonoma re-introduced Greek yogurt to its product line-up. (Source: Dairy Reporter)

Recent Developments in the Food Technology Market

Air Products

  • Launch: In June 2025, a global industrial gas company, Air Products launched the Center for food storage, processing, and freezing technologies. The aim behind this launch was to support the development of advanced food preservation methods. (Source: horti daily)

Delhi Government

  • Launch: In May 2025, to support food and technology-based startups, the Delhi government is investing in new infrastructure. The aim behind this investment is to strengthen the state’s entrepreneurial ecosystem. (Source: Food & Drink International)
  • In April 2025, Navarra and La Rioja, the Spanish government introduced Europe’s first AgriFoodtech Sandbox. The aim behind this launch was to accelerate technological advancements in the agri-food industry. (Source: vegconomist)

Food Technology Market Leading Companies

Food Technology Market Companies

Segments Covered in the Report

By Component

  • Hardware
  • Software
  • Services

By Application 

  • Food Science
  • Kitchen & Restaurant Tech
  • Delivery
  • Supply Chain
  • Others

By Industry 

  • Fish, Meat, and Seafood
  • Fruits and Vegetables
  • Grain and Oil
  • Dairy Products
  • Beverages
  • Bakery and Confectionery
  • Others

By Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa (MEA)
  • Latin America
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  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2023
  • Base Year: 2024
  • Estimated Years: 2025-2034

Meet the Team

Vidyesh Swar, Senior Research Analyst at Towards Food & Beverages, specializes in market research, focusing on supply-demand evaluation, pricing analysis, alternative proteins, plant-based foods, and sustainable food technologies within the industry.

Learn more about Vidyesh Swar

Aditi Shivarkar, with 14+ years in Food and Beverages market research, specializes in food, beverage, and eco-friendly packaging. She ensures accurate, actionable insights, driving Towards FnB's excellence in industry trends and sustainability.

Learn more about Aditi Shivarkar

Related Insights

FAQ's

The food technology market is driven by increasing demand for automation, AI integration in food production, the rise of personalized nutrition, and a surge in online food delivery services. Additionally, growing consumer interest in plant-based and functional foods, combined with advancements in food safety and traceability, is accelerating global adoption.

The global food technology market is projected to grow from USD 229.49 billion in 2025 to USD 538.47 billion by 2034, exhibiting a CAGR of 9.94%. This reflects strong long-term growth potential, supported by tech-driven innovation and rising health-conscious consumer behavior.

Key disruptive technologies include AI and machine learning, blockchain for traceability, robotics and kitchen automation, IoT-enabled sensors, and smart packaging. These solutions enhance food safety, efficiency, and customization across the food supply chain, improving both operational outcomes and customer experience.

Asia Pacific leads due to its rapid e-commerce growth, high population density, government-backed food tech initiatives, and increasing adoption of on-demand food delivery and plant-based diets. Countries like India and China are becoming innovation hubs due to policy support and local market demand.

North America\'s growth is propelled by advanced R&D infrastructure, AI and automation adoption, rising consumer preference for natural and clean-label food, and the increasing number of tech-enabled food startups. The U.S. is at the forefront due to its strong investment ecosystem and regulatory support.

In 2024, the hardware segment dominated due to its widespread use in food processing and hospitality (e.g., kiosks, cooking robots, and IoT systems). However, software solutions such as food delivery apps and reservation platforms are expected to grow significantly as digital adoption surges.

High-potential areas include AI-driven food personalization, robotics for processing and kitchens, alternative protein manufacturing, and smart supply chain platforms. Investors are also eyeing cloud kitchens, sustainable packaging solutions, and food traceability systems for high returns.

The biggest challenge is food supply chain disruption caused by global crises, climate change, and logistical vulnerabilities. Additionally, ensuring food security, regulatory compliance, and inter-stakeholder collaboration remains crucial to sustainable market expansion.