Technological transformation is happening in the food sector with the introduction of new technologies, which are driving changes in agrifood industry.
Innovations such as driver-less vehicles, 3D printers and smart fridges are having a profound impact on how we get our foods. In addition to these innovations, we also have digital innovations that are redefining how we think about food and its distribution. There is an online option for every type of cuisine and the ‘to-go’ culture is thriving.
While some people may be excited by this technological transformation in the food sector, it has led to a number of problems such as increased costs and reduced welfare for food producers.
FoodTechs are providing technologies that enable the transition into a sustainable future by addressing the social and environmental challenges across the food chain, from farm to fork. Technological innovations in many areas such as plant-based proteins, robotics, software for processing natural ingredients or technologies for enhancing agricultural production can help solve problems such as climate change, resource scarcity and obesity.
The global food tech market size in 2019 was USD 220.32 Billion and this number is expected to grow to USD 342.52 Billion from now until 2027, which means there will be a 6% CAGR during that timeframe.
The increased use of AI and other innovations in food processing is driving the growth of the food tech industry.
Food Tech made up 43.1% of the North American region’s total market share in 2019
The food industry has undergone a lot of technological transformations in the past few decades. From its agricultural roots to the contemporary transformation, it has seen significant changes. The agrifood industry is now in the middle of an innovation boom. The food sector is no longer just about cooking and serving food, but also includes technology and services that are shaping this space.
FoodTech startups are out to bring about a change by disrupting this vertical through new technologies, developing mobile apps or web apps that can provide information about recipes or restaurants for customers, for example.
In order to get more attention in the food sector, entrepreneurs should invest in mobile app development. They can also use web apps instead of a traditional website design that takes up lots of resources with no added value to the customer.
The key is to select the most important problems whose solution will significantly change the life of the target user. Thanks to such an approach, already at the stage of Discovery and Design, it will be possible to build a successful product on the market much faster. It is always worth asking yourself the question “what value does the feature give to our user? Is it worth the investment?”
Through the use of technology, new solutions have been introduced to solve the problem of food wastage in the agrifood industry. One of them is FoodTech Company’s web app that helps to reduce food wastage from 80% to 1%.
FoodTech Company’s web app helps to reduce food wastage by using technology and analytics. They have a platform that consolidates all their orders in one place and automatically generates reports for each order that can be tracked online.
The web app notifies customers when their orders will be delivered, when they are ready for pickup, and when they should expect their order. It also lets customers track their orders on the go with their mobile devices.
The agrifood industry is a $2.5 trillion industry with numerous challenges and opportunities. Its success relies on innovation, new technologies, and efficiency in production. The Internet of Things is one such technology that has the potential to make a significant impact across these industries, but how exactly?
The IoT’s ability to collect data from different sources and transform it into meaningful insights can provide tremendous value for all the stakeholders of an agrifood company.
The key benefits that the IoT brings are improved efficiency and productivity in farming, better customer experience in restaurants, better product quality control, reduced food waste by measuring supply chain gaps, etc.
Blockchain technology is a potential game changer for the foodtech industry. As it offers “a decentralized, open, and secure way to record transactions between two parties in a verifiable and permanent way”.
In this paper, we will discuss how the blockchain technology can be applied in the foodtech company to offer more transparency and trustless transactions. We will also discuss how it can solve some of the common problems that startups face when trying to develop their product.
With the use of these integrations, companies can easily share their data with a third party. On the other side, companies get a chance to use their own mobile apps and websites to utilize this data and generate further insights about customer behavior.
In today’s fast-paced world, most businesses need to have a digital presence in order to stay ahead of the competition. However, it has not always been easy for them to do so. This is because they had limited resources and capabilities on their own.
Since foodtech is said to be one of the most promising industries in terms of growth potential and market size, many companies are trying not only improve their digital presence but also boost their bottom line through innovations such as these integrations.
I have worked with the GMI Group on many projects over the last 4 years. I have always been satisfied with the quality of the commissioned works, which were made by Mikołaj Lehman and his entire programming team.
GMI has unique skills to translate ideas into reality. They are very efficient, discreet and, above all, trustworthy.See Case Study
From the beginning, GMI was able to anticipate possible risks and interruptions. The design environment was adapted to our working mode and was simple enough for the product owner to meet his requirements and those of the development team.
Thanks to the great attention to the quality of the code, the project was delivered on time and there were no internal complications associated with the product development. However, there were external complications (service providers), which GMI helped to solve with us.See Case Study
With the greatest pleasure and full responsibility, we recommend GMI as a professional contractor for web applications and CMS systems. We chose GMI primarily because they approached our inquiry very professionally. Very fluent contact at an early stage of talks announced that the implementation would be equally efficient and it actually was.
If there is an opportunity in the future to jointly implement another project, we will definitely use the services of GMI again.See Case Study
Foodtech is a growing segment of the digital economy, with startups and big players alike pouring investment into new solutions and services to make food more convenient, affordable, and healthy. But launching a food technology business is not as simple as creating an app or website and then sit back to watch the money roll in…