Agricultural technology, also known as agritech, is all about developing new technologies that can expand food production and the growing process. Applications of agritech are very broad and varied but they all possess the same aim; produce more food with less effort and less space. Let’s take a deep dive into this exciting corner of the food and beverage industry. 

Agritech Methods

Agritech is best understood as a collection of scientific methods which provide benefits to farmers. These methods can enhance plants, animals and micro-organisms, and some examples include:

New breeding technologies (NBTs): These are methods of allowing the development of new plant varieties with desired and prescribed traits, via DNA modification of seeds and cells. Farmers can then grow plants with characteristics that are desirable in the environment in which they farm.

Marker Assisted Breeding: NBTs are connected to marker assisted breeding, which is the process of using DNA markers to assist in the breeding process. This leads to greater efficiency and precision. 

Genetic Modification: Desirable genetic traits are selected, combined and propagated. 

Beyond this, a report produced by the World Government Summit divides agritech into three main general trends. These are:

Technologies that “produce differently using new techniques”:

• Hydroponics

• Algae feedstock

• Bioplastics

• Desert agriculture

• Seawater farming

Technologies that bring food production to consumers and increase efficiencies: 

• Vertical/urban farming

• Genetic modification

• Cultured meats

• 3D printing.

Technology and applications that cross industries: 

• Drone technology

• The internet of things

• Data analytics

• Precision agriculture

• Nanotechnology

• AI

• Food sharing and crowdfarming

• Blockhain technology

Agritech is certainly sending ripples across the whole food and beverage industry, since it impacts every corner of the supply chain.

Agri-foodtech Startups

Separate from agritech, agri-foodtech is the small but growing segment of the startup and venture capital universe that’s disrupting the food and beverage industry for some time. Early-stage investment in agrifood tech startups reached $10.1 billion in 2017, which was a 29% increase on the previous year. Whether it’s lab-grown meat, cannabis infused drinks or meals in bottles, consumers and retailers are all crying out for new innovations in the sector. 

Agri-food tech is a highly complex and broad industry but one of its leading applications relates to regulation, food quality, food security, and food safety. Traceability refers to the functions that trace the flow of foods and ingredients throughout the supply chain. And traceability helps locate a product at any stage along this process. ERP platforms, powered by AI, are leading the way in the Agri-food tech sphere. Using big data and machine learning models, the software provides complete transparency when it comes to tracking products across the whole supply chain, from “farm to fork”. And this is perhaps the most exciting innovation in the agri-foodtech sector.

By 2024 it’s predicted that the global food industry could save $31 million if companies invest in blockchain technology and agritech to monitor their supply chains. If you’re looking to digitize your supply chain, get in touch with the team at Cashmere today!