Software is feeding your stomach. The future of food is transforming the way we eat, nourish, and shop for food products.
Today, food technology is more than just ordering food from DoorDash, getting your recipe-in-a-box from HelloFresh, hiring a personal shopper from Instacart, or finding your favorite restaurants from Yelp.
New startups are entering the lucrative food industry through unique differentiation, solving valid problems, and becoming a huge success.
We’ll examine top startups that are reinventing the food industry and unlocking exciting opportunities for builders and backers to capitalize on the food space.
Top 10 Food Tech Market Trends:
(1) Consumers are demanding more than just convenience from food services:
- D2C food companies are aligning value propositions with these shifting consumer preferences: no allergens (soy, GMOs, gluten); no chemicals (hormones, antibiotics, artificial ingredients); and environmentally sustainable (plant-based, ethical).
- Magic Spoon replaces sugar-based cereals with low-carb and keto-friendly cereals.
- Elite Sweets sells low-sugar, gluten-free, keto-friendly donuts.
- Sids Farm sells grass-fed milk without added hormones and antibiotics straight from the farm.
(2) Plant-based and vegan food categories are booming:
- New startups are rushing into the $22 billion vegan food market.
- Singapore’s Next Gen Foods makes chicken burgers from plants. The company’s latest funding round closed $100M Series A in 2022.
- Israel’s Redefine Meat makes beef and lamb cuts from plants. The company recently closed $135M.
- UK’s allplants ($52M funding in 2021) is an online vegan meal delivery platform.
(3) D2C food companies are innovating in the snack market:
- Perky Jerky is creating all-natural ingredients meat-based snacks.
- Peckish is making hard-boiled eggs snackable.