Foodtech is a hot topic. In the age of the internet and the global health crisis, digital technology and start-ups are on the rise. Actually, every week, the social media and mainstream publish reports about huge venture capital funding in foodtech, fintech, blockchain or insurtech industries.
What is Foodtech?
According to the marketing definition of the term Foodtech, this sector refers to all companies integrating digital technology with food production, preparation, and the sale of food products. Obviously, it is possible to highlight some of these categories:
- Agtech represents all start-ups that focus on breeding or farming using digital tools.
- Food science refers to all companies specializing in food processing or the production of new products.
- Food eCommerce strongly represent companies delivering meals to homes, offices, selling online or in food coaching.
The introduction of digital technology has led to an increase in the number of start-ups in the food industry. Some startups specialize in the manufacturing of raw materials used in fast food joints, restaurants, hotels and other establishments as well as refrigerated products.
Other companies focus on the delivery of homemade meals or coaching such as weight loss programs.
So dozens of innovative Foodtech companies are opening their doors every day to offer new products.
The future of foodtech
Foodtech is a sector that has a bright future. Here is why.
First of all, it is an industry that is set to meet increasing consumers’ needs. Indeed, more and more people are worried about their diet and so they are looking for healthy ways of eating. In addition, companies in this field are taking advantage of the growing skepticism in the food industries and their distributors. Therefore, foodtech start-ups using technology to show transparency and build trust. For instance, you can now trace an ingredient to the farmer who grew it and the farming methods they used to produce it.
Aside from how their foods are produced, processed or distributed, consumers want to discover new tastes, new ingredients and new methods of food preparation.
In summary, food is important, and foodtech companies have realized that, and so they are responding to consumers’ demand for quality and new tastes.
Note : A confirmation of FDA Prior Notice declaration must accompany each shipment of food or beverage before it enters the United States.
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