The present and future of food tech investment opportunity – TechCrunch

There is no bigger industry on our planet than food and agriculture, with a consistent, loyal customer base of 7 billion. In fact, the World Bank estimates that food and agriculture comprise about 10% of the global GDP, meaning that, food and agriculture would be valued at about $8 trillion globally based on the projected global GDP of $88 trillion for 2019. On the food front, a record $1.71 trillion was spent on food and beverages in 2018 at grocery stores and other retailers and away-from-home meals and snacks in the United States alone. During the same year, 9.7% of Americans' disposable personal income was spent on food -- 5% at home and 4.7% away from home -- a percentage that has remained steady amidst economic changes over the past 20 years. However, despite a stalwart customer base, the food industry is facing unprecedented challenges in production, demand and regulations stemming from consumer trends.