Progress in sustenance: Aiming for improved, eco-friendly options, rather than simply excessive production.
The food industry is undergoing a significant transformation, with innovation accelerating at an unprecedented pace. This change is driven by a variety of factors, from the growing world population to concerns about sustainability and health.
By the middle to end of the 21st century, the world population is projected to grow to 9-11 billion, posing a challenge for food supply. To meet this demand, traditional farming methods are being supplemented with innovative solutions such as vertical farming and indoor fish farming. These methods, which allow for year-round production and reduced water usage, are becoming more common.
The focus has shifted from the quantity of food produced to its quality and sustainability. This change is reflected in the food industry, with traditional corporations adjusting their products and hundreds of startups innovating. One such company is Revoltech, which developed a vegan, biodegradable hemp-based leather alternative promoting environmental sustainability.
Another trend is the increasing popularity of plant-based or vegan cuisine, even among non-vegetarian diets. This shift is partly due to concerns about health and the environment, as well as ethical considerations. Proteins from peas and soybeans are being used as meat replacements, reducing the need for traditional animal agriculture.
However, the problem of hunger and malnutrition persists. Around 2 billion people are still undernourished or malnourished worldwide, a stark reminder of the challenges facing the food industry. The COVID-19 pandemic has exacerbated this problem, reversing decades of progress.
The food industry is also volatile, with a large portion of the portfolio dependent on the development of commodity prices and influenced by external factors like extreme weather. To address this, a significant portion of EU and US climate packages is dedicated to the sustainable transformation of agriculture.
The preference for fatty and sugary convenience products is decreasing, with a growing focus on healthier options. This shift is gradual and hesitant, starting with affluent and urban population groups. The question was raised about the implications if everyone in China wanted to eat as much meat as people in developed countries, given the environmental impacts of traditional agriculture.
One promising solution is the cultivation of meat in bioreactors, which is making progress and leading to a decline in prices. This technology, if widely adopted, could significantly reduce the environmental impact of the food industry.
The new innovations in food are expected to bring growth potential to the sector for many years. Companies like Nestlé are launching new products targeting weight management and GLP-1 users with natural, health-focused ingredients. The supplement industry is also emphasizing sustainable sourcing and production with organic and local components.
COVID-19 has triggered a change in awareness about personal well-being and health. This shift, along with growing concerns about the environment, is driving the transformation of the food industry. The future of food looks set to be sustainable, healthy, and innovative.
