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5 September 2018

The Future of Food at STHLM TECH FEST

Photo: Maximilian Paradiz/Flickr

The food tech industry currently represents less than 10% of the global GDP but it is expected to grow exponentially in the next few years.

Swedish Food Tech investors foresee the market value of this sector to reach 25-45 billion SEK by 2028 in Sweden only, equalling 1% of GDP, which is why visions of the future food industry were discussed during an afternoon session at STHLM TECH FEST 2018, a four day event that took place in Stockholm on September 1-4 and fully revolving around Innovation and Technology.

Ölof Sundström and G. Brandberg from the Boston Consulting Group and Gullspång Invest opened the session by expressing their expectations for Food Tech, an industry in which lay huge opportunities for investment, innovation and success not only in Sweden but all over the world.

We need a global strategy

While local strategies to develop technology in the food industry already exist, contemporary global processes such as growing population, evolving diet trends, and climate change require new integrated approaches to how we produce our daily calorie intake.

Brad Barbera, Director of Innovation at the Global Food Institute provides consulting services to pioneers of the meat-alternatives production industry. He sees this section of the food market not only as particularly profitable, as the demand for protein will rise in the next decade.

Developing plant-based food and clean meats is profitable and is also an opportunity to address contemporary social and environmental issues

The universe of meat alternatives is complex. While plant-based proteins are more efficient products than traditional meats, clean meats are made in labs from real animal cells, yet without the need for breeding animals. Indeed, the latter hold the potential of bringing benefits to the environment, human health, and our pockets: clean meats in the future may be cheap, healthier, and extravagant. In this regard, Barbera foresees designer meats rich in Omega 3 and tasting like filet mignon!

Tapping into the revolutionary world of sustainable proteins, Pasi Vainikka from Solar Foods Oy has started commercial production of protein powders whose environmental impact will be 10-100 times smaller than those of meats products or their substitutes currently in the market, such as soy.

Photo: Courtesy of Solar Foods

Solar Foods’ concept redefines the basics of food production, as it is not dependent on agriculture, the weather, or the climate.

 

 

The Finnish company produces a new kind of nutrient-rich protein using air and electricity as the main resources employing the methods tested at the VTT Technical Research Centre of Finland and the Lappeenranta University of Technology (LUT).

Photo: Amirhossein Aslani/Unplash

Virtual Reality (VR) and Augmented Reality (AR) are exploring the multi-sensorial feedback of food consumption

While protein powers will be able to fortify our foods employing the thousands of unexplored varieties of plant-based proteins available in our ecosystems, research projects exploring Virtual Reality and Augmented Reality predict that innovation in the Food Tech industry will be able satisfy consumers’ demand for meaty flavors and textures.


For more information on STHLM Tech Fest 2018 and its participants explore the event website available at this link.

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