Demystifying Foodtech: Why It Matters

By Erika Masako Welch, 27 August 2023

With the world's population set to reach a staggering 10 billion by 2050, the demand for food continues to rise. 

But in the face of this mammoth task of being able to feed the world, we must deal with unprecedented challenges like climate change and food security, food wastage, and resource depletion. Enter foodtech, stage right - the powerful convergence of food and technology that holds the key to our future. This thriving sector that is revolutionizing the way we produce, distribute and consumer our food, boasts over 10.5K+ startups and 124 unicorns, worth a staggering US $1.3 trillion. From next-generation foods to cutting-edge agtech that boosts yields, IoT-enabled appliances, game-changing SaaS solutions, and the rise of dark kitchens and food delivery players,

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The Growing Business of Foodtech

There are over 124 foodtech unicorns around the world worth over US $1.3 trillion. The Foodtech market itself surpassed US $260 billion last year alone. Alt-Proteins, 3D Printing Food, and AI integrated Restaurant SaaS: The future of food has arrived.