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.

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.

Business opportunities

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

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.

• Agrotech

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.