The New Food Movement And How Blockchain Could Solve Food Security Issues (Forbes)
- FSV News
In 2013, Tesco’s supermarket chain in the United Kingdom had a tainted meat scandal in which horse meat was found in some beef burgers sold in the UK and Ireland. Since that time, there has been an increased awareness by consumers who are demanding to know the provenance of their food. On top of that is the concern over the environmental impact of the farming industry and its effect on climate change.
There’s a new food awareness that’s affecting consumers, manufacturers, farmers and investors.
The global food tech market is expected to grow to more than $250.43 billion by 2022 according to a 2016 industry market report.
Five Seasons Ventures, an early stage VC firm has raised a €60 million fund in early 2018 to invest in the food and ag tech markets as well as transparency and food traceability. Based in France, the firm recently released The State of European Food Tech 2018 on October 18, 2018, which looked at the trends in food tech across Europe.