To begin with, FoodTech is an ecosystem made up of agriculture entrepreneurs and startups innovating on products, distribution, marketing, from production to distribution. The term “FoodTech” is quite justified because, on one hand, it is the coming together of the sectors of food and technology, while on the other hand, the industry of food is galloping towards new heights with the passage of each day, as smoothly and swiftly as any other technology. FoodTech is primarily concerned about implementing technology in all the food production systems to yield greater production and discover new methods through which the supply and distribution of food will be benefitted.
FoodTech owes its origin to the United States of America and today, it is practiced in a large part of Europe, especially in France. An interesting thing to be noted here is the glaring difference in which FoodTech is treated in these two continents. In case of United States, it is mainly the integration of food and technology to enhance the means of production and supply, while in France and greater parts of Europe, FoodTech is mainly concerned with cutting down the mass production of food that in some cases involve using synthetic supplements and help people in consuming food that is more healthy and organic and at the same time is of pioneer quality.
Recently, a lot of startups have engaged themselves in FoodTech and considers it to be one of the vastest areas of exploration and growth. Everything that you can think of that makes production, ordering and distribution easy falls under the category of Foodtech. For instance, the food ordering applications that have been made popular in tabs and smartphones, allows you to order any form of food with a single click; you can be looking for the cooked food from restaurants or raw vegetables and spices to be delivered to your doorstep and it will be done within no time. Also, to encourage a consumer to popularize the various sectors of FoodTech, some startups offer amazing deals to their customers on having ordered and received their food successfully. With the swiftly changing times and diversity in consumer needs, the technologies involved in the sector of food is upgrading itself with each day. Customer feedbacks and opinions are being taken into serious consideration to enable taint-free growth in the field of food technology.
Then, of course, there is the famous Beyond Meat IPO and dairy alternatives, and all the meal prep companies launching almost every day in Silicon Valley. These companies and food manufacturers are striving to develop methods so that the issue of quality is taken care of in spite of such a humungous increase in the production and distribution units and for the organizations to successfully keep up with the orders constantly flowing in.
Coming to the economy of Food Technology in recent times, it has been proven that the sector is running quite strong and is spreading its wings over time. One factor that has to be accepted here is the demand for food will always rise no matter what and capitalizing on this fact will only increase the number of opportunities and creative methods of improvement.