The growth of e-commerce in Food and Beverage retail has been the most notable trend in recent years. The expansion of modern grocery retail is taking a new dimension with automation and fast-changing market landscape. Although home delivery culture has been strong before the pandemic, the trend saw a phenomenal uptick and expanded to all segments including fresh food, meat products etc. Going by recent reports this trend is anything but transient. Digital commerce in the F&B industry is expected to reach 71.62 Billion USD by 2028, registering a compounded annual growth of 17.8percent.
It is in this context that Selloverseas.com is expanding its resources in F&B franchise and retail segment to help our users explore new markets.
Food and beverage companies should consider expanding their sales and distribution networks to overseas markets. There are a number of compelling reasons to do so.
The global market for food and beverages is immense and is growing every day. By expanding your company’s reach to new markets, you can tap into this lucrative opportunity and grow your business.
Another reason to sell overseas is that foreign consumers are eager for new and innovative products. If you can introduce your company’s latest offerings to consumers in other countries, you’ll likely see strong demand for them.
There are many logistical challenges associated with selling food and beverages internationally, but with the right planning and execution, it can be a very successful endeavor.
Is digital F&B marketplace disruptor or facilitator?
With the increasing internet penetration coupled with high data bandwidths, secured payments and multiple access routes such as mobiles, tablets etc. e-commerce in F&B is seeing a phenomenal rise. The crucial insights from producers and aggregators are leading to both disruption of existing retail models and facilitating efficiency.
Challenges faced by F&B Retail?
Curbing waste, improving ingredient provenance, refining packaging, meeting sustainability goals are some of the key challenges faced by F&B retail. The buying choices of new generation consumers are more and more getting influenced by climate aspects. A global consumer survey indicates climate change as major concern and confirms that it will impact food choices. With current carbon neutrality pledges and regulatory requirements to indicate carbon impact on labels; it will force BRANDS to communicate their sourcing and distribution networks in a transparent comprehensive manner.
The increased awareness on sustainability will lead to a major shift the way retailers, resellers and producers communicate with customers. To substantiate their sustainability claims, companies will innovate in all aspects from sourcing ingredients to packaging and delivery methods.
Emerging Agtech trends impacting Food &Beverage distribution
Efficiency and simplification is the core of emerging Agriculture technology (Agtech). The recent flaws and faults with global food supply chains prompted greater interest and investment in agriculture technology (Agtech). This umbrella term covers the use of sensors, machines, drones, robotics, aerial imagery and use of GPS in agriculture and Smart Food logistics hub and F&B marketplace.
While some enterprises, entrepreneurs and earlier entrants are seeing success. The biggest challenge is operational efficiency and distribution processes which resolve energy equation.
Food and Beverage newest frontiers are in digital space- using data, cloud computing and decision support to assist agribusiness meet emerging demands or enter new markets. New innovating solutions may be sprouting soon.