Agribusiness: foodtech and its business opportunities
Foodtech or food technologies can be defined as the application of new technologies to improve the quality of the food we consume. It undoubtedly represents the future of food production chains in the face of a growing society and the imperative need to improve our diet to avoid widespread cardiovascular and metabolic problems.
According to the UN (United Nations Organization), food demand could soar to almost 10 billion people by 2050. Thus, we are faced with the need to guarantee food for the entire population, which makes the foodtech sector a great business opportunity for the future.
This new sector takes into account everything from food production to consumption, providing safety, sustainability, innovation and efficiency, thus encompassing all the stages that apply technologies to the agri-food value chain.
By 2050, 20% of the world's population will be over 60 years of age and, in turn, this will be more than the population under 5 years of age. Not only has the fertility rate been decreasing, but life expectancy has been increasing thanks to technological advances in food, medicine and the globalization of work.
A look at the big picture
2021 was a big year in terms of foodtech investment, reaching $39.3 billion in a total of 1,358 deals, according to PitchBook data. That figure is more than double what was invested during the previous year when it reached $18.1 billion.
Companies belonging to the food technology industry still represent a minority in the agri-food sector, but they have become a milestone, so much so that some are even listed on the Nasdaq index; such is the case of Beyond Meat and its controversial lab burger that have financed important figures.
Some of the business opportunities that stand out with food technology are; biotech agriculture, organic food, bioenergy, agricultural robotics and farming systems 4.0.
- Personalized diets
It has a market value of $127 billion globally and has initiatives such as the insertion of Artificial Intelligence and DNA to create personalized menus.
- Synthetic meat
Despite being controversial, laboratory meat has been well accepted by consumers, who consider that it would solve part of the food, climate and animal exploitation problems in the future.
Biotechnology is related to the search for superfoods and alternative proteins. It is also used to improve crop productivity and the quality of species, while seeking to develop more innovative ingredients and products.
It is the set of technologies aimed at optimizing agricultural processes and making them more sustainable through various techniques applied to crops, among its objectives is the use of resources and the improvement of varieties.
- Blockchain technology
Some companies are beginning to use blockchain technology to guarantee that their meat comes from antibiotic-free animals, among other guarantees.
Growth of the Pet Care Industry
The pet care industry ranges from veterinary pharmaceuticals, diagnostics, product and service distributors, food manufacturers and supplies of all kinds. The industry is expected to grow from $232 billion in 2020 to $350 billion in 2027.
Healthy foods that help you control your weight
If we want to lose weight we have to realise that we need to change our eating habits and we often do not manage to do this, because we see weight loss as a temporary, demanding and sacrificial process.