The health crisis and social distance have driven a wave of alternatives willing to offer new alternatives to consuming food. Among them, we find FoodTech, an industry that leverages technologies such as Big Data and Artificial Intelligence to transform the way we relate to food.
This new business model is gradually grabbing more market share within the agri-food industry. It has become the vanguard of the sector, as established by The State of Global FoodTech Report, a report prepared by Talent Garden and Forward Fooding based on 5,300 organizations operating in this area. According to the report, since 2010, there have been investments worth more than 65 billion euros in FoodTech companies. Despite the pandemic, 2020 has set an investment record, raising €17 billion and growing at a Compound Annual Growth Rate (CAGR) of 42%.
“2020 has driven both innovation and creativity in this segment. It’s safe to say that the demand for more sustainable, transparent, and reliable food will continue to grow”, says Noa Segre, Senior Specialist, Corporate Transformation and Envisioner at Talent Garden.
New trends, innovative formulas, and cutting-edge products
Tomorrow’s consumers are more conscious about their purchases, looking for healthy and sustainability-focused products. Among other things, the future of FoodTech involves designing smarter packaging. These will be equipped with sensors that will analyze and provide information on the state of the product to any participant in the supply chain, thus promoting transparency and reducing plastic consumption.
Consumers are also looking for foods that fit their lifestyles. Personalized nutrition is at the core of this sector’s focus. Meals in and out of the home, disintermediation, and food are among the core topics on which FoodTech companies have focused their attention.
At Fellow Funders, we support companies in pioneering sectors such as FoodTech and bring them closer to the capital necessary for their expansion. For example, Foodinthebox. This startup allows its customers to access more than 1,500 healthy recipes through Meal Kits. We know that FoodTech has arrived to revolutionize the world of food, and we have no intention of being left behind.
Source: Emprendedores
