Humankind has long put off innovation in food technology, but now the changes have started to happen very quickly.
The global FoodTech market was growing by leaps and bounds even before the pandemic. According to J'son & Partners Consulting, if in 2018 it was estimated at $191 billion, by 2025 its volume will already be $390 billion. As a result, according to calculations of the venture capital fund Fuel for Growth, in 2020 the amount of global investment increased from $10.17 to $16.33 billion compared to 2019. The market looked very attractive to investors. Several billion dollars a year is being invested in alt-protein technologies and by 2030, RethinkX predicts that more than 50% of the market will be in alternative proteins.
Population growth in Africa and South Asia, trends in craft products and healthy lifestyles, "here and now" (and D2C) requirements and other trends will drive the growth of the FoodTech market and corresponding investor interest.
What exactly attracts investors to FoodTech? Why is it worth paying attention to this industry? What are the prospects for FoodTech in the short and medium-term?