Food+Ag Tech News: Sept 11 - Sept 17
A Weekly Press Review About FoodTech
Vertical Farming Market by Component (Irrigation Component, Lighting, Sensor, Climate Control, Building Material, and Others) and Growth Mechanism (Hydroponics, Aeroponics, and Aquaponics)
Allied Market Research published a detailed report titled “Vertical Farming Market by Component and Growth Mechanism: Global Opportunity Analysis and Industry Forecast, 2017–2023”. According to the expert analysis, the global vertical farming market with a value of $1.5 billion in 2016 is expected to garner $6.4 billion by 2023. It will exhibit a compound annual growth rate of 23.6% during the forecast period 2017–2023. The report presents a comprehensive analysis of the current and emerging market trends, market share analysis, and the factors impacting the dynamics of the market. Important statistical data, figures, charts, and tables are included to support the claims made in the report.
Bayer and Ginkgo Bioworks are launching a new company that will develop new technologies for sustainable agriculture by engineering the plant microbiome.
With the microbiome already gaining traction in the therapeutics field, Bayer has decided to take it to agriculture. In partnership with US synthetic biology upstart Ginkgo Bioworks, the German giant is creating a new company to engineer plant microorganisms to reduce costs of growing crops while reducing the environmental impact of agriculture.
Meet the Start-up that Secured a Million Euros in Seed Funding to Tackle the $10B Problem in Fish Farming
When you walk up to the fish counter at your local grocery store, do you ever think about the origin of your seafood? Your salmon may have come from as far away as Chile, Norway, or Canada, where most salmon is from. Your shrimp probably have passport stamps from China, Thailand, Vietnam, Indonesia, India, or Ecuador.
You may also notice whether it’s “wild-caught” or “farmed.” Surprisingly, most seafood these days doesn’t come from the sea. As we try to manage what we take from our oceans, “farmed” fish from aquaculture operations are increasingly recognized as the future of sustainable food production. It’s the world’s fastest growing food sector, worth an estimated $200 billion USD, and we’re going to see more and more seafood coming from fish farms around the world.
As diets change, food prices climb and corporations fail to come up with innovative ideas, investment in the food tech industry is still a valuable prospect.
Advancements in data and technology have led to incredible developments not only in the way we grow and harvest our food, but also in the way we obtain and consume it. From seed to table, technology is affecting the entire food supply chain in remarkable ways.
How Tech Is Changing Our Food Systems? The urban population is exploding around the globe, and yesterday’s food systems will soon be sub-optimal for many of the megacities swelling with tens of millions of people.
Further, issues like wasted food, poor working conditions, polluted ecosystems, mistreated animals, and greenhouse gases are just some of the concerns that people have about our current supply chains.
Today’s infographic from Futurism shows how food systems are evolving — and that the future of food depends on technologies that enable us to get more food out of fewer resources.
While historically venture capital firms have been more associated with technology than with food, we’re seeing technology increasingly integrated into the food and beverage sector as startups pioneer new products and ingredients. The fifteen most well-funded VC-backed food & beverage startups have racked up a whopping $1.49B in aggregate funding, mainly by focusing on plant-based foods and drinks.
SparkLabs Group, which claims to be the largest startup accelerator group in Asia, is stepping into agricultural tech with a new program created in partnership with the New South Wales Department of Primary Industries. Called SparkLabs Cultiv8 and based in Orange, Australia, the accelerator will start in the second quarter of 2018.
Agriculture has been at the core of the evolution of human civilization, thriving alongside humanity. However, despite its crucial role, the agricultural industry has advanced at a slower pace as compared to other trades. This is partially because of the complacency in the farm sector. However, this is fast changing. Here are some of the challenges facing agriculture, and how advanced technologies are getting integrated to benefit the farming sector.
Even as Amazon steps up a groceries war in the US following its $13.7BN acquisition of Whole Foods — cutting prices at the chain this weekend to amp up the pressure on rival Walmart — other supermarket players are figuring out their own strategic responses to Jeff Bezos’ big food fight.
UK online supermarket brand Ocado has today outed an app for Amazon’s Alexa voice assistant, enabling users to add groceries to their shopping list by voice — at least if they also own one of Amazon’s AI-powered Echo smart speakers.
A new study by Slice Intelligence shows grocery composes a large and growing share, at 26%, of Walmart’s U.S. e-commerce sales in the second quarter, according to Business Insider.
Slice’s data shows Walmart.com, Walmart Grocery and Sam’s Club e-commerce sales combined grew 73% year-over-year in Q2 2017. Walmart.com represented about 50% of the company’s U.S. e-commerce sales in Q2, down from about 70% a year ago.