Global Food Tech Market - 2025-2032

Food Tech Market Size

Global Food Tech Market size reached US$ 105.28 billion in 2024 and is expected to reach US$ 224.31 billion by 2032, growing with a CAGR of 9.9% during the forecast period 2025-2032.

The global food tech market is evolving to address system-wide inefficiencies and sustainability challenges. As of 2023, over 3.1 billion people globally cannot afford a healthy diet, pushing demand for affordable, tech-enabled nutrition solutions. In response, major food companies like Nestle are investing in regenerative agriculture across 14 million hectares by 2030, integrating tech for soil health and emissions tracking.

Meanwhile, food traceability is advancing as digital supply chain tools are being implemented across over 60 countries through global partnerships and public initiatives. Additionally, the World Bank emphasizes that less than 20% of smallholder farmers globally use any form of digital agricultural advisory service, highlighting a vast untapped segment for food tech deployment. At the same time, companies are adopting circular food economy models, with Unilever targeting 100% recyclable or compostable packaging by 2025, aligning with tech-led waste reduction strategies.

Food Tech Market Trend

Globally, the agrifood system incurs hidden costs equivalent to 10% of global GDP, driven by environmental damage, health impacts from poor diets, and socio-economic inequality. These "invisible costs" include productivity losses due to malnutrition and pollution-related healthcare expenses. The FAO stresses that these costs must be internalized in future food tech innovation models to ensure equitable and sustainable growth.

Global Food Tech Market Dynamics

"True Cost Accounting" Adoption for Sustainable Food Innovation

"True Cost Accounting" (TCA) is becoming a key driver of global food tech innovation, as governments and companies seek to capture the real environmental, health, and social costs of food systems. According to the FAO, global agrifood systems incur US$ 10 trillion in hidden costs annually, nearly 10% of global GDP, from climate emissions, biodiversity loss, poor nutrition, and labor inequities. TCA frameworks aim to internalize these costs into decision-making, pushing food tech firms to innovate around regenerative agriculture, low-impact packaging, and healthier product design.

This shift is accelerating investment in digital tools and analytics platforms capable of tracking externalities across the value chain. For instance, Nestle and Unilever are piloting TCA-aligned sustainability metrics into product development and supply chain reporting, aligned with guidance from the FAO's Sustainable Food Systems Program. As companies and countries embed TCA into procurement and policy, food tech solutions that reduce water use, carbon intensity, or diet-related diseases are seeing increased demand globally

Uneven Digital Infrastructure in Emerging Economies

Uneven digital infrastructure in emerging economies is a significant barrier to the growth of the global food tech market. According to the World Bank, only 32% of the rural population in low-income countries has access to reliable internet, compared to over 80% in high-income countries. This gap limits the adoption of precision agriculture tools, IoT-based farm monitoring, and blockchain-enabled traceability systems-technologies that are rapidly transforming food systems in more digitally advanced regions.

The lack of connectivity not only hinders productivity but also excludes millions of smallholders from e-commerce platforms, agri-data services, and digital marketplaces. For instance, the FAO and World Bank highlight those countries in Sub-Saharan Africa and South Asia face challenges like high broadband costs and lack of digital literacy, creating bottlenecks for food innovation scale-up. As a result, food tech ventures are disproportionately clustered in developed markets, slowing global innovation equity and food security progress.

Market Segment Analysis

The global food tech market is segmented based on technology, food type, end-user, application, and region.

AI and Machine Learning Technologies are Accelerating Innovation in the Global Food Tech Market

Artificial Intelligence (AI) and Machine Learning (ML) technologies are significantly enhancing efficiency and innovation in the global food technology market. For instance, Mondelez International has utilized AI to develop new snack recipes, accelerating product launches by a factor of five compared to traditional methods.

Similarly, China's five-year action plan aims to digitize agriculture by 2028, incorporating AI to boost food production and enhance food security. Additionally, AI applications in aquaculture have improved fish farming efficiency by up to 20%, demonstrating the technology's impact on various sectors within the food industry. These examples underscore AI and ML's pivotal role in transforming food production and supply chains globally.

Market Geographical Share

Rapid Technological Advancements in North America.

The North American food technology market is witnessing robust demand, driven by growing investment in automation and safety standards across the food industry. According to the US. Department of Agriculture (USDA), the adoption of automated food processing and packaging technologies is accelerating as companies seek to improve efficiency and respond to labor shortages.

Simultaneously, the US. Food and Drug Administration (FDA) continues to advance its New Era of Smarter Food Safety initiative, which emphasizes the use of digital traceability, predictive analytics, and emerging tech such as AI and blockchain to enhance food safety outcomes. These government-led efforts, along with strong consumer demand for transparency and innovation in food production, are shaping the region's growing appetite for food tech solutions.

Technology Analysis

The global food tech market is experiencing significant advancements, particularly in the realm of alternative protein sources. In Australia, the ag-tech sector secured $253 million in investments in 2023, showcasing resilience during a global funding slowdown in 2024. Innovations such as microbial spore supplements for soil carbon capture by companies like Loam Bio and robotic pollinators by Arugga AI Farming highlight the country's cutting-edge developments. Additionally, Australian farmers are increasingly adopting advanced technologies, with a survey indicating they are the world's second-biggest adopters after the US.

In the UK, regulatory frameworks are evolving to accommodate emerging food technologies. The Food Standards Agency (FSA) has initiated a US$ 1.77 million project to establish a system for testing and approving lab-grown meats, aiming to have facilities operational within two years. This initiative is part of a broader effort to integrate novel food technologies into the market, reflecting the government's commitment to fostering innovation in the food sector.

Major Global Players

The major global players in the market include Impossible Foods, Inc., Beyond Meat, Inc., UPSIDE Foods, Inc., Eat Just, Inc., Meatable B.V., NotCo SpA, Perfect Day, Inc., Apeel Sciences, Inc., Tovala, Inc., and BlueNalu, Inc.

Key Developments

In January 2023, Hunch Ventures, a New Delhi-based Investment fund, announced a global partnership with Earth First Food Ventures (EFFV) to build India's first Net-Zero Food Tech Innovation project. Catalyzed by the Global Alliance for a Sustainable Planet (GASP), this Net-Zero Food Tech Innovation project will be the first-of-its-kind in India focused on smart proteins and innovative technologies in food production for lower carbon emissions, cleaner and healthier production of protein with lower GHG emissions.

In September 2022, Culinary Digital, an established US-based food-tech SaaS company, part of the Fulcrum Group, launched a cutting-edge food tech platform for Indian market to tackle critical issues like food wastage and food security.

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Target Audience 2024

Manufacturers/ Buyers

Industry Investors/Investment Bankers

Research Professionals

Emerging Companies