FoodTech is a combination of biological, information and digital technologies in the entire food production chain: from farms to packaging, storage, preparation and delivery of food products. FoodTech is one of the fastest growing markets, which could reach a turnover of $300 billion in 2022.
In the first part of the research, SBS Consulting experts analyzed the global FoodTech market – identified its main segments and formulated key trends and development prospects up until 2026.
In the first part of the research, SBS Consulting experts analyzed the global FoodTech market – identified its main segments and formulated key trends and development prospects up until 2026.
FoodTech market segments
AgTech (Agrotechnology)
Key focus areas:- Improving the efficiency of agricultural production
- Urban farms and agricultural biotechnology
- Drones and robots for agriculture
- Software for farm management
- Agricultural trading platforms
FoodScience
Key focus areas:- Creating new, healthier foodstuffs and packaging
- Development of substitutes for traditional foods, highly nutritious bars and beverages
- Innovation in food production and packaging
- Cannabidiol-based beverages and alternative proteins
FoodService
Key focus areas:- Restaurant table reservation platforms
- Payment services (ePOS) and point of sale management
- Cooking robots and virtual restaurants
- Catering service management and cloud kitchens
Coaching (Counselling and consumer support)
Key focus areas:- Nutrigenomics and individual nutritional needs
- Transparency of information on foods
- Counselling on dietary recommendations and recipes
- Creation of culinary experiences and food-related tourist attractions
Delivery (Food and grocery delivery services)
Key focus areas:- Delivery of ready meals, supermarket groceries and meal kits
- Delivery robots and grocery e-commerce platforms
- Virtual restaurants and marketplaces
Retail (Technologies in logistics and trade)
Key focus areas:- Supply chain automation and improving customer experience
- Vending machines and supply chain data management solutions
- Creating customer loyalty programmes and improving customer interaction