FoodTech trends in 2024
Shaping the future of food
This is the fourth edition of our report on trends shaping the future of food. Each year, we gather all our knowledge on innovation all along the food supply chain, from seeds to food products to grocery stores to health.
Innovation is coming from researchers and large corporations, above all, from startups. Indeed, the entrepreneurial mindset is more agile and enables more risky ventures. While food was long discarded as not disruptive enough for investments, things have changed, and now startups are getting heavily funded to reinvent the way we grow food, shop and cook it.
This revolution will see the transition from our current paradigm to a new one where food is more accessible, healthier, and sustainable. We are at the start of this radical shift. And, as often, most players see the future as an extension of the past. With this report, we aim to show you trends that will be key in shaping the future of food!
From our analysis, we have identified 28 FoodTech trends and grouped them into six megatrends shaping the future of food: the resilient farm, sustainable proteins, food as medicine, the smart supply chain, instant retail, and food automation.
What is a unicorn?
A unicorn is a privately held startup publicly announcing a valuation above one billion dollars.
A company can stop being a unicorn:
- following an acquisition (such as Wolt acquired by DoorDash);
- if it becomes a public company following an IPO (Initial Public Offering) and is then traded. Some companies have their valuation moving beyond the $1B mark on this occasion, but they are excluded from our scope as we focus on private companies;
- if it publicly announces a new round of financing with a valuation lower than $1B.
