Future of food tech industry in India
Indian Food Tech Sector
The Food Tech industry in India is one of the fastest-growing industries. It is using technologies like Big Data and IoT to enhance productivity in producing, assembling, delivering, and enjoying food.
Reports and Stats
As per a report by ResearchAndMarkets, the Indian foodTech sector is expanding at a CAGR of ~39% during the 2021 – 2025 period and expected to reach INR 1,868.19 Bn by 2025.
Cloud Kitchen - Future Trend
After the increased popularity of food delivery, cloud kitchens are also gaining popularity. As per Inc42 research, 87% of the Cloud Kitchen market is still untapped.
Start-ups like Rebel foods, CureFit, and BOX8, are dominating the cloud kitchen space, and the sector is forecasted to reach $1.05 Billion by 2023.
Backed by increasing internet penetration, the food tech industry will witness further increase in the number of subscription boxes, one such example is Snackible.
Food Tech start-ups offering ready-to-eat and DIY meals are witnessing great demand among the public.
After COVID, restaurants have started providing QR-based menu display, contactless payments which will become a norm in near future.
Online tracking, tracing of ingredients, calorie counters and AI-enabled smart camera-aided services in the food industry will also become norms in near future.
Robots and Efficiency
Robots are already being used in food industry. But in near future they will also help in food production through which the threat of customer safety can be minimized to almost zero.
Tech innovations minimize food wastage by predicting expiry of food and vegetables more accurately. One such Indian start-up is qZense Labs.
With the integration of tech in the food services business, people can customise their food as per their preference and the amount of calorie intake they would want for the day.
Tech innovations will continue to influence people to spend in new food experiences. The Indian food tech sector will continue to attract more consumers in years to come. Know More about it!