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Global Big Data in Food and Beverage Market size is predicted to reach $6.7 billion by 2030, growing at a CAGR of 35.4% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Advancements in real-time data analytics and machine learning algorithms, finds IndustryARC in its recent report, titled “Big Data in Food and Beverage Market – By Type (Products, Solutions and Services), By Deployment (Cloud, On-Premises and Hybrid), By Application (Precision Agriculture, Customer & Supplier Analytics, Quality Control, Smart supply chain, Demand forecasting, Waste & Spoilage control & Food safety), By Organization Size (SMEs and Large Enterprises), By End-User (Agriculture, Manufacturers, Retailers, Supply Chain, Hospitality, Dairy and Livestock Farmers), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030”
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APAC to Register Highest Growth:
APAC is set to register the highest growth in the Big Data market for the Food & Beverage industry due to several factors. The region’s rapidly expanding population drives increased food demand, necessitating advanced data solutions for efficient supply chain management. Investments in digital agriculture and smart farming technologies are accelerating, supported by government initiatives promoting food security. Key players in APAC are adopting AI, IoT, and blockchain to enhance data analytics capabilities. Additionally, rising consumer awareness about food safety and quality propels the adoption of Big Data solutions, further fueling market growth in the region.
Big Data in Food and Beverage Market 2024-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2023 |
|
Forecast Period |
2024–2030 |
|
CAGR |
35.4% |
|
Market Size in 2030 |
$6.7 billion |
|
Segments Covered |
By Type, By Deployment , By Application, By Organization Size, By End-user and By Region |
|
Geographies Covered |
North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. Accenture 2. Amazon Web Services 3. Dell 4. HP 5. IBM 6. Oracle 7. SAP 8. Teradata Corporation 9. Sisense 10. Farmers Edge |
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Big Data in Food and Beverage Market Report – Key Takeaways:
In 2023, the quality control segment dominates the Big Data market for food and beverage, boasting the largest revenue share. Big Data simplifies maintaining food quality in restaurants by analyzing ingredient measurement, storage conditions, and overall product quality. Insights predict and identify improvements, including the impact of factors like storage and transportation on packaged foods. For example, on November 7, 2022, Yim Platform, a subsidiary of Central Retail, partnered with Google Cloud to aid the HoReCa industry’s recovery and anticipate evolving consumer tastes. This collaboration supports Yim Platform’s sustainability goals, aiming to become Thailand’s first green firm and achieve net-zero carbon emissions in B2B HoReCa e-commerce by 2050, while also assisting farmers in exploring new distribution opportunities.
Manufacturers led the Big Data market in the Food and Beverage industry in 2023 due to their extensive use of advanced analytics for optimizing production processes and quality control. Big Data solutions enabled manufacturers to achieve predictive maintenance, reduce downtime, and manage inventories efficiently. The emphasis on traceability and compliance with stringent food safety regulations also drove the adoption of Big Data technologies. Additionally, manufacturers leveraged real-time data monitoring to enhance operational efficiency and meet dynamic consumer demands. This comprehensive utilization of Big Data solidified manufacturers’ dominant position in the market, driving significant advancements in the industry.
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Key Opportunity Analysis:
Enhancing Supply Chain Transparency
The global Big Data in Food and Beverage market has a significant opportunity to enhance supply chain transparency. With increasing consumer demand for transparency and traceability, Big Data technologies can provide valuable insights into the entire food supply chain, from farm to table. By leveraging advanced analytics, companies can monitor and optimize production, distribution, and logistics, ensuring product quality and safety. Additionally, Big Data can help identify inefficiencies, reduce waste, and improve sustainability across the supply chain. Businesses can gain a competitive edge by investing in Big Data solutions that enable real-time visibility and data-driven decision-making, meeting evolving consumer expectations for ethical and sustainable practices.
Personalized Nutrition and Consumer Insights
The rise of personalized nutrition presents a significant opportunity for the global Big Data in Food and Beverage market. As consumers increasingly seek tailored dietary solutions, Big Data can provide deep insights into individual preferences, health conditions, and lifestyle factors. By analyzing vast amounts of data from various sources, companies can develop personalized food and beverage products that cater to specific consumer needs. This opportunity enhances customer satisfaction and loyalty, creating new revenue streams for businesses. Additionally, Big Data enables brands to identify emerging trends and consumer behaviors, allowing them to innovate and adapt quickly. By leveraging data-driven insights, companies can lead the personalized nutrition revolution.
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The report also covers the following areas:
Big Data in Food and Beverage Market 2024-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
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List of Key Market Players in the Big Data in Food and Beverage Market:
The Global Big Data in Food and Beverage Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
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