Dublin, March 13, 2024 (GLOBE NEWSWIRE) -- The "Global DTC Food Market by Type (Food {Bakery & Confectionery, Meat, Poultry, & Seafood, Dairy, Snacks}, Beverages {Carbonated Soft Drinks & Juices, RTD Tea & Coffee, Alcoholic Beverages}), and Distribution Channel (Online, Offline) - Forecast to 2031" report has been added to ResearchAndMarkets.com's offering.
The global DTC food market is projected to reach $195.39 billion by 2031, at a CAGR of 18.7% during the forecast period of 2024-2031
The report provides an in-depth analysis of the global DTC food market in five major geographies and emphasizes the current market trends, sizes, shares, recent developments, and forecasts till 2031. The report conducts the impact analysis of the key industry drivers, restraints, opportunities, challenges, and trends.
The growth of the DTC food market is driven by the rising adoption of convenience foods, growing online purchases of food products, and the increasing number of DTC food brands. However, the lack of brand awareness & limited product offerings of DTC food providers, and product quality concerns & delivery delays are some of the factors limiting the growth of this market to some extent.
Moreover, the growing demand for premium & personalized food products is expected to generate market growth opportunities for stakeholders operating in this market. However, high competition from other distribution channels is a prominent challenge for the players operating in this market. Furthermore, consumers' increasing focus on health and wellness is a major trend in the DTC food market.
North America is slated to register the highest CAGR during the forecast period of 2024-2031. The growth of this regional market is driven by the rising technological advancements in online food distribution and high consumer preference for convenience and personalized shopping experiences. Moreover, factors such as busy lifestyles, increasing disposable income, and a growing demand for healthy and sustainable food options are also expected to support the high growth of the DTC food market in North America.
In 2024, the food segment is expected to account for the larger share of the global DTC food market. The large market share of this segment is attributed to the increasing demand for convenience foods, changes in lifestyle and food habits, growing consumer inclination towards online shopping, rising demand for nutritional and fortifying food products, increasing innovative food products, and rising spending on healthy and nutritious diets.
In 2024, the online distribution channel segment is expected to account for the larger share of the global DTC food market owing to the increasing preference for online shopping among consumers, the convenience offered by online platforms, the growing penetration of the internet, and the high popularity among food and beverage manufacturers of creating websites to display and sell their products directly to consumers.
Also, the growing preference for personalization, contactless shopping, consumer convenience, easy price comparisons between brands, the advantage of greater discounts compared to offline stores, and a greater product selection experience are some of the factors increasing the popularity of the online distribution of food and beverage products.
Key Questions Answered in the Report:
- What are the historical market sizes and growth rates of the global DTC food market?
- At what rate is the global DTC food demand projected to grow for the next 5-7 years?
- What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
- Which segments, in terms of type and distribution channel, are expected to create major traction for the manufacturers in this market during the forecast period of 2024-2031?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global DTC food market during the forecast period of 2024-2031?
- Who are the major players in the global DTC food market? What are their specific product offerings in this market?
- What are the recent strategic developments in the global DTC food market? What are the impacts of these strategic developments on the market?
Market Insights
Factors Affecting Market Growth
- Rising Adoption of Convenience Foods Driving the Demand for DTC Food & Beverage Products
- Growing Online Purchases of Food Products Supporting Market Growth
- Increasing Number of DTC Food Brands Accelerating Market Expansion
- Lack of Brand Awareness & Limited Product Offerings of DTC Food Providers Limiting Market Growth
- Quality Concerns & Delivery Delays Impacting the Adoption of DTC Food Products
- Growing Demand for Premium & Personalized Food Products Generating Market Growth Opportunities
- High Competition from Other Distribution Channels to Remain a Major Challenge for Market Players
Key Trends
- Consumers' Increasing Focus on Health & Wellness
Company Profiles
- Anheuser-Busch InBev NV/SA (Belgium)
- AriZona Beverages USA LLC (U.S.)
- JBS S.A. (Brazil)
- Mondelez International Inc. (U.S.)
- Nestle S.A. (Switzerland)
- OLIPOP Inc (U.S.)
- PepsiCo Inc. (U.S.)
- The Coca-Cola Company (U.S.)
- The Kraft Heinz Company (U.S.)
- The Naked Market (U.S.)
- Unilever PLC (U.K.)
Competition Analysis
- Key Growth Strategies
- Competitive Benchmarking
- Competitive Dashboard
- Industry Leaders
- Market Differentiators
- Vanguards
- Emerging Companies
Scope of the Report:
DTC Food Market Assessment - by Type
- Food
- Beverages
DTC Food Market Assessment - by Distribution Channel
- Online Distribution Channel
- Offline Distribution Channel
DTC Food Market Assessment - by Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/njgefp
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