How Tech is Impacting and Innovating the Way We Eat

Aug 17, 2017 · Guest Post for CEOWorld Magazine by Richie Santosdiaz

Agricultural land india

Agrifood and Foodtech – the subsectors of tech that are changing society.

Tech is so broad it encompasses a wide range of subsectors. The food and the wider agriculture sector is no exception. There have been remarkable inroads in spreading the innovation of tech in farming and all the way down the value chain to the consumer as far as getting access to food.

Many refer to agritech as the technology used to help solve problems in agriculture and farming practices, as well as in food production and distribution. This essentially helps produces more with less resources and not damaging the environment. Foodtech is often referred to as helping reduce food waste in the food value chain, from selection to packaging to distribution. From a commercial point of view, foodtech helps extend the shelf life of food. Foodtech also helps the food industry and its end users get better access to food and also information about it.

An important reason why innovation, with the help of tech, makes sense in the agriculture and food sector is food sustainability. According to the United Nations (UN), the world’s population is at 7.6 billion people and expected to reach shy of 10 billion by 2050 and 11.2 by 2100. With projected rapid growth of the world’s population, especially in emerging and developing economies, the world at some point will have to incorporate that as far as feeding future generations.

As arable land is not an unlimited supply, this requires the agriculture industry as a whole to find new ways to efficiently farm. This also means improving logistics in the food industry and all the way down to how consumers purchase their food and dispose of their food waste. According to an article published by McKinsey in 2015, food and agribusiness represents a $5 trillion industry, which is about 10 percent of global consumer spending, 40 percent of employment, and 30 percent of greenhouse-gas emissions.

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