The Big Data Market in Food & Beverages Market is to Touch $6.7 Billion by 2030; The increasing demand for Big Data Market in Food & Beverages across various industries such as agriculture, manufacturers, retailers, supply chain, hospitality, dairy a

The Big Data Market in Food & Beverages Market size is estimated to reach $6.7 Billion by 2030, growing at a CAGR of 35.4% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Big Data Market in Food & Beverages Market –By Type  (Products, Solutions, Services), By Deployment (Cloud, On-Premises, 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, 2023-2030”

Enhanced supply chain transparency and traceability and personalized consumer experiences and product development are fueling the growth of the Big Data Market in Food & Beverages industry during the forecast period. 

North America holds the largest market share with more than 39% in 2023 for Big Data Market in Food & Beverages market, driven by the region’s advanced digital infrastructure and a high level of technology adoption among businesses. The U.S. and Canada, in particular, have a strong presence of food and beverage companies that increasingly rely on big data analytics to enhance operational efficiency, optimize supply chains, and meet changing consumer demands for transparency and personalization. The region’s regulatory emphasis on food safety and quality control also encourages companies to adopt data-driven solutions that ensure compliance and maintain high standards. Additionally, North America’s robust consumer market, with its preference for personalized products and sustainable practices, motivates companies to invest in data analytics to better understand and respond to customer preferences. The combination of these factors makes North America a leader in the adoption of big data in the food and beverages industry, fueling growth in this market segment.

Supply chain transparency and traceability have become crucial for food and beverage companies, driven by growing consumer demand for ethically sourced products and regulatory requirements. Big data analytics allows companies to monitor every stage of the supply chain, from raw material sourcing to final delivery. Using IoT sensors, GPS tracking, and blockchain technology, companies can collect real-time data on the journey of their products, ensuring that quality and safety standards are consistently met. For instance, big data solutions can track temperature and humidity levels during transportation to ensure perishable items remain fresh. This data can also be shared with end consumers, offering insights into a product's journey and reinforcing trust in brand transparency. Additionally, companies can use big data analytics to quickly identify and address any potential contamination or quality issues, enabling rapid responses to food recalls. The food processing sector has become a key contributor to India's economy over the past few years, thanks to progressive policy measures by the Ministry of Food Processing Industries (MoFPI). The sector has performed exceptionally well with an impressive average annual growth rate of 7.3% from 2015 to 2022. It has significantly contributed to Gross Domestic Product (GDP), employment, and investment, accounting for 10.54% of gross value added (GVA) in Manufacturing and 11.57% in Agriculture sector in 2020-21. GVA in Food Processing sector has increased from Rs. 1.61 lakh crore (US$ 24.60 billion) in 2015-16 to Rs. 1.92 lakh crore (US$ 24.43 billion) in 2022-23 (as per First Revised Estimates of Ministry of Statistics and Programme Implementation).

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Personalization in the food and beverage industry is becoming increasingly popular, as consumers demand products and experiences tailored to their preferences, health goals, and dietary needs. For example, big data allows brands to create personalized recommendations for customers based on previous purchases, dietary restrictions, or nutritional goals, enhancing customer satisfaction and loyalty. In product development, big data helps companies test different formulations, flavors, and packaging designs before launching them in the market. This trend also supports the rise of direct-to-consumer (DTC) platforms, which allow brands to engage with consumers in real-time and collect feedback on products, services, and new launches. When it comes to data analytics, most food retailers (85%) and suppliers (94%) are utilizing this technology. Food companies use data analytics the most to optimize decision-making around pricing and promotion and to assist with assortment planning and replenishment. In 2023, the industry reported a much lower out-of-stock rate of 6.5%, below the historical rate of 8% and down from 10.7% the previous year. Data analytics is also being used by food retailers and suppliers to leverage customer data, for loss prevention, supply chain logistics/scheduling and for hiring purposes.

• In December 2021, Amazon Web Services is positioning in marketplace of big data helping enterprises to leverage more business value. Hadoop, DynamoDB and Elastic MapReduce are in major platforms used and AWS is making it easier for companies to manage, store and analyze their data

Key companies profiled in the Big Data Market in Food & Beverages Market are Subway, Kroger, Amazon Web Service, Accenture, Dell, HP, IBM, Oracle, SAP, Sisense, Google, Inc., Praxie, Kellogg, Datassential, Tenzo and others.