Disruptive tech innovations are revolutionizing the future of the food tech industry 

Demand for food sustainability in recent years has driven the food industry to leverage advanced food tech solutions. The industry is increasingly facing global challenges to meet food demand, which can be addressed by information technologies. In the last few years, the food industry has started incorporating new technologies and mobile-based services, transforming the way how companies operate the business.

In a report, Ernst and Young revealed that the increased consumer spending trends indicate that customers are willing to pay for food tech innovations that can meet their increasing needs of convenience, health and low environmental impact. This opportunity in food technology can benefit food innovators to capitalize on these market demands and grow rapidly.

Revitalizing the Food Industry with Food Tech

When it comes to food, technology hardly comes to first place. But with the surging demand for foods globally, the industry is now rapidly turning to digitization. Many food manufacturing and processing companies are already leveraging food technology. To put it simply, food tech typically involves the use of technologies such as automation, robotics, AI, IoT, and big data, among others, to turn the agrifood industry into a more modern, sustainable and efficient sector at all its stages, from food preparation to its distribution and consumption.

Today, the use of mobile-based apps has considerably brought the food industry to the next level. The advent and integration of technologies like QR-based menu display, AI-powered smart cameras, contactless payment, online customization of meals, and tracking of ingredients are the key enablers of the food tech sector.

As food tech companies share a smaller part of the agrifood industry, the global food tech sector is estimated to value over US$250 billion by 2022. The popularisation of electronic commerce, the growth of the internet and the penetration of smartphones are partly driving the sector's growth.

Let’s have a look at some technologies that are powering the food tech industry.

AI-Powered Chatbots

Today, everyone explores and places food orders using their smartphones. Once they ordered they get food recommendations. This is significantly done by AI-enabled chatbots to connect consumers. They send recommendations based on eating behavior and mannerisms. Besides this, companies use chatbots for customer service 24/7. Considering this trend, it is clear that the future of food tech will be more intelligent and personalized at the back of predictive analytics and machine learning technologies.

Contactless Payments

This payment method can deliver safety as the COVID-19 epidemic has propelled a no-touch environment. Contactless payments can enable consumers to pay and get their food without touching anything just through a QR code. They can even get the menu displayed digitally on their mobile screen scanning the QR code using their smartphones. This has already proved convenient as 51 percent of consumers are using Mastercard contactless credit, debit and wallet. Conversely, 33 percent of US consumers have switched their top-of-wallet card to contactless, while 45 percent prefer to shop at stores that have contactless POS. 

Artificial Intelligence

Using AI in the food industry may spur the innovative tracking and tracing of foods. The technology can help in sorting foods, managing supply chains, ensuring employees' personal hygiene procedures, cleaning processing equipment, and growing and yielding better food. AI can also help detect food wastage with the support of integrated smart camera technologies. Also, AI-enabled cameras can track each worker operating in the kitchen.

Technologies such as blockchain, online customization of meals, AR and VR and others are further transforming the food tech industry.