Food Technology Market Size  | Innovation Trends & Forecast 2031

Q: What is the current and projected market size of the Food Technology market?

The market size was USD 250.3 billion in 2023 and is projected to reach USD 503.6 billion by 2031.

Q: What is the expected CAGR of the Food Technology market during 2024–2031?

The Food Technology market is expected to grow at a CAGR of 9.1% from 2024 to 2031.

Q: What are the key drivers fueling the growth of the Food Technology market?

Key drivers include rising demand for sustainable food, smart supply chains, and technological innovations in processing and packaging.

Q: Which companies are leading in the Food Technology space globally?

Leading companies include Nestlé, Givaudan, Bühler Group, Kerry Group, and Beyond Meat.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

Yes, we provide customisation as per your requirements. To learn more, feel free to contact us on sales@6wresearch.com

Code: MTA4427

Publication Date: Jun 2025

What is the Food technology Market Size?

According to 6Wresearch internal database and industry insights, the Global Food Technology Market was valued at USD 250.3 billion in 2024 and is anticipated to exceed USD 503.6 billion by 2031, registering a steady at a CAGR of 9.1% during the forecast period.

The Food Technology market is evolving rapidly with the arrival of automation and biotechnology variations, including the implementation of smart food processing solutions, new propositions appeared in the market. Various techniques in sustainable food production, packaging, and safety systems accelerate the adoption rate in the global food and beverage market. Increasing demand for clean label products, plant-based alternatives, and AI-led supply chain solutions also helps feed the growth of the industry.

Major Growth Factors of the Food technology Industry

Rising demand for processed and packaged food
Advancements in food safety and preservation techniques
Increased consumer preference for sustainable and functional foods
Integration of AI, IoT, and blockchain in food supply chains
Growing popularity of plant-based and alternative proteins
Government support and funding for food innovation

Food technology Market Trend

A big transition is being observed in the market toward personalized nutrition, clean-label products, and AI-based food quality analyzers. Smart kitchens, robotics in food handling, and 3D food printing are the existing trends shaping up the industry. Sustainability, transparency, and waste reduction continue to remain common concerns in their choices on both sides: consumers and corporations.

Emerging Developments in the Food technology Industry

Companies are increasingly investing in precision fermentation, lab-grown meat, and alternative protein sources to cater to eco-conscious consumers. Enhanced tracking technologies, biodegradable packaging, and vertical farming innovations are being explored for improving efficiency, safety, and sustainability in food production and distribution.