Nuffoods Spectrum - March 2024

في هذا العدد

How Food Industry is Embracing TECH-DRIVEN FUTURE
In an era defined by innovation and disruption, it's no surprise that the food technology landscape in India is undergoing a remarkable transformation. This change isn't just about what we eat; it's about how our food is produced, distributed, and consumed. The amalgamation of technology and food tech is not only cutting edge but also a dire necessity. We can see that the food tech industry in India is on the cusp of a monumental transformation, driven by technological advancements. The shift from traditional to tech-driven processes has been particularly prominent in recent years. With over 3000 startups in the food technology space, technology
is making a significant presence in the food and beverage industry mainly in online food delivery and online grocery. The online food retail market is just 2.5 per cent of the overall food market with revenue touching $997.30 billion in 2024 and growing at an expected rate of 7.96 per cent (CAGR 2024-2028). It encompasses various aspects of the food industry, from agriculture and production to distribution and consumption. Let's dig deep and unearth how technology is reshaping India's food tech sector.