Last month, I was able to connect with industry leaders and experts during the Future Food Tech and World Agri-Tech Summits and Middle East Agri-Food Briefing. Each of the events offered educational sessions and networking opportunities where three key topics stood out in conversation:
1) Investors are more interested than ever
Not only is there more interest and therefore funding available to food and ag-tech companies, but the investors themselves have stepped up their game and are deeply interested in the products and processes they’re being shown.
2) Consumer demands and expectations are evolving quickly
The consumer in today’s world is more educated in the production processes surrounding their favorite products and foods than ever before and they are demanding more: more options, more efficiency, more value. Consumers are directing more and more attention to sustainability and regenerative practices, which means organizations are also shifting their focus.
3) Technology advancements are more sophisticated than ever
Ag and food technology isn’t simply data analytics for precision ag any longer. The increasing demand for more efficient practices and faster production times coupled with consumer expectations have driven ag and food technology developments to new heights.
As the world has seen disruptions in production happen in real-time and has been faced with questionable food security in some areas, it’s easy to see how advancements in technology – driven by consumer expectations and backed by educated investors – aren’t an aside or a fun way to pass the time but a necessary piece to ensure the health and wellness of our global population.