(Entertainment-NewsWire.com, July 16, 2024 ) The Global Food Logistics Market Size Was Valued at USD 125.52 Billion in 2023 and is Projected to Reach USD 228.91 Billion by 2032, Growing at a CAGR of 7.8% From 2024-2032.
Pune, 12, July 2024:The Global Food Logistics Market Size Was Valued at USD 125.52 Billion in 2023 and is Projected to Reach USD 228.91Billion by 2032, Growing at a CAGR of 7.8% From 2024-2032.
Food logistics involves managing the movement and planning of food-related goods, encompassing material handling, packaging, transportation, storage, and security, tailored to customer needs and market demands. Logistics service providers facilitate the delivery of materials from producers to consumers, with technological advancements driving the expansion of third-party ordering and delivery services. This growth is further fueled by transport companies introducing new warehousing services globally. The industry shows significant growth potential, particularly in the adoption of fully automated storage systems. Logistics service providers now offer comprehensive services beyond mere delivery or storage, including customs, labeling, assembly, and transportation, acting as intermediaries between customers and end-users.
The logistics industry stands to gain from technological advancements enhancing speed, efficiency, and visibility. Autonomous vehicles are poised to revolutionize logistics, particularly in closed environments like warehouses and ports, promising streamlined operations and last-mile delivery. Blockchain technology, originally for Bitcoin, now offers logistics companies and shippers real-time goods transfer across supply chains. It ensures transparency, security, and efficiency in tracking purchase contracts, customs data, and shipment movements.
E-commerce's rapid growth has bolstered demand for robust food logistics services. Online grocery shopping, driven by consumer convenience and choice, necessitates enhanced logistics solutions for timely and secure perishable goods transportation. This trend intensifies market competition, prompting investments in logistics technology like real-time tracking and route optimization, enabling providers to meet evolving consumer expectations efficiently.
Food Logistics Market Regional Insights
North America leads the global food logistics market due to its advanced infrastructure and technology. The region boasts robust transportation networks—road, rail, air, and sea—that efficiently transport food products over long distances. The United States, a key player, benefits from extensive infrastructure including highways, railways, ports, and airports. This network facilitates swift and economical movement of goods nationwide and globally, crucial for transporting food from farms and production sites to distribution centers and consumers worldwide.
Food Logistics Market Segment Analysis
By Transportation Mode
Railways
Roadways
Seaway
Airways
The food logistics industry heavily depends on road transport due to its adaptability to changing customer preferences, extensive network coverage, and efficient delivery capabilities. Road transport enables the trucks to reach remote areas and distribute food, whether it be fresh produce, packaged products, or perishable goods. They can navigate various terrains and complex routes, ensuring timely delivery to various destinations. The food sector relies on this flexibility to ensure that products remain fresh and high-quality for longer periods during delivery.
Introspective Market Research, a Service industry research firm, has released the following reports:
Global Online Food Delivery and Takeaway Market: The Online Food Delivery and Takeaway Market Size Was Valued at USD 26.42 Million in 2023 and is Projected to Reach USD 46 Million by 2032, Growing at a CAGR of 7.21% From 2024-2032.
Global Food Truck Market: The Food Truck Market Size Was Valued at USD 2.17 Billion In 2023 And Is Projected to Reach USD 3.62 Billion By 2032, Growing at a CAGR of 6.49 % From 2024-2032.
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