FOOD TECH GROWTH RATES

FOOD TECH GROWTH RATES

This report provides an overview of the global growth rates of the food tech industry. Funding for food tech companies has risen exponentially from $60 million in 2008 to $16.9 billion in 2018. Data from 2016 projects the food tech market reaching $250.43 billion by 2022. One of the segments with the fastest growth is plant-based proteins, which will attain an estimated market of $85 billion in 2029. Additional findings from Europe reveal that food delivery is the segment receiving the most funding.

Global Food Tech Industry Growth Rates

food tech unicorns

Global Food Tech Industry Related Findings

  • In 2019, the overall value of the food and agriculture industry was estimated at approximately $8 trillion globally.
  • Food waste is a potentially viable segment ready for innovation. Some companies are targeting the 40 percent of pre-consumer food waste in the U.S. with a goal of reducing it (such as by improving food quality during transportation).
  • In Europe, the abundance of food tech funding is in food delivery (see chart below).
food tech funding segments

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