Technology-the ROI driver for Food and Beverages Industry
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Technology's Role in Defining the Future of Food Industry
Today’s technology is a driving force for innovation that challenges even the most established companies to modernize and rethink how they remain relevant. No industry is impervious to technological progress’ revolutions. Some industries, however, realize the need for these transformations slower than others. The food industry has lagged behind others for long, plagued by archaic practices and an increasingly enraged base for consumers. However, technology and innovative ideas have finally overcome consumer outrage. Technology affects almost every move, by even influencing people’s food choices.
The shift of the population from rural to urban life will significantly increase demands for future food supplies and shorter, more efficient supply chains. Furthermore, wealth inequality continues to increase, creating economic disparities in access to healthy food between socio-economic and income groups. Healthy eating is a growing trend in developed nations across the world.
Many companies like IBM, have developed blockchain implementations to track the delivery of food. The reason behind these implementations is to scan the product and know the complete information about the product like where was it grown and when was its shipment made. This can avoid the waste if contamination is found. UBS’s food delivery projects will increase from $35 billion to $365 billion by 2030. Many start-ups focus on offering shared kitchens for new and old restaurants.
A lot of food in the United States today goes waste. Even if consumers do not buy ripe fruit or throw their leftovers, food ends up in the trash. In order to combat this waste, several companies have begun to take food waste and turn them into cosmetics. It might seem surprising to imagine edible food coming out of an electronic printer, but it is a legitimate operation. One of the companies has already been able to make pure sugar and a 3D printer for candies. They’ve collaborated with Hershey’s to create 3D-printed chocolates.
The food industry will constantly evolve and impact lives in unimaginable ways with growing technologies. As technology advances, people's relationship with food also evolves. It can teach the means to develop without harming the planet and find a way to solve the hunger of the world one day.