Farmers, consumers, and retailers, all are craving the next generation of food. The investors understand the success rate too.
Agrifood is the constituent of two parts, one that includes technologies to target farms, called Agritech, and the other that targets retailers, investors, and manufacturers referred to as Food Tech. This way, Agrifood can cause a greater impact on the production lines.
The human population is undergoing a tremendous rise. This means, more and more mouths to feed. According to the UN, food production should increase by 70% in the coming 3 years to feed the world’s population.
People have grown educated, they understand the connection between ecology and food, animal welfare and health. It is important to note that number of vegans has increased by six times during the last three years.
The manufacturers must bring new and healthy food to serve to the public. In this regard, Agritech has launched new production models that can dramatically reduce the environmental impact of farming.
The intelligent application of the new technologies can create opportunities. Genetic engineering is one such technology that can increase the yields of products by 21% at the global level. CRISPR is another technology that can bring revolution to the way food is grown.
Although Agrifood has convincing benefits and opportunities, investors are reluctant to invest in this sector. So are farmers, because the implementation of such large-scale technology can put their business at risk.