“Forward Fooding has launched its Food Tech 500 – a Fortune 500 of the food tech world – lifting the lid on the sector’s ones to watch.”
Food delivery is booming, app ordering is now second nature, and society expects to eat what it wants, when it wants it.
Using science and technology to create new types of food and drink, such as plant-based proteins, lab-grown meat, snacks made from insect protein, or coffee powder made from mushrooms is now the norm. And with the market predicted to be worth $250bn by 2020, and a host of exciting innovation hitting the market each month, it really is an exciting time for food tech[1].
To celebrate this growth, Forward Fooding has launched its Food Tech 500 – a Fortune 500 of the food tech world – lifting the lid on the sector’s ones to watch.
Here are some of our key take outs from the event:
1. A move towards growing food in the city
The inspiring Johan Jorgensen from Sweden Food Tech challenged our thinking on traditional farming, and local equalling sustainable. He tipped growing urban environments as the next big thing – so expect to see more indoor farming utilising Co2, and more proteins made from fresh air à la Solein.
2. Nestlé is leading the way
According to the event, it’s three cheers for Nestlé who is leading the way, putting 2% of revenue back into R&D v the majority of food businesses who invest just 0.2%.
3. Vertical and tech-led farming is where it’s at
Four out of the top 10 on the Food Tech 500 list are either indoor farms, or companies which provide tech to maximise their productivity. We can’t wait to check out Growing Underground who sustainably grow fresh micro greens and salad leaves 33 metres below the busy streets of Clapham.
[1] BIS: https://bisresearch.com/industry-report/global-food-tech-market-report-forecast.html