There is a seismic shift happening at retail — consumer demand is driving by convenience more than any thing.
Today’s vending machines are not designed for fresh foods which also represents a real business opportunity for the AgTech industry.
We may need an additional 70% more food to feed 10 billion people by the year 2050.
A popular word in the industry has become “sustainable food” The mindset here is increasing the resiliency, productivity, and profitability of food.
Certainly AgTech is an area that I am not knowledgable about but it is precisely that reason why I am glad that I went to this talk. One key point this talk reinforced is that we all have a role in doing the right things now to ensure our food supply is used responsibly. Rather than focusing on increasing food production — due to the 4th point above — we should first ensure we are maximizing what we produce today by minimizing waste. I believe that this sentiment was shared by all of the panelists at this talk.
So, if you have not heard about AgTech, well now you know. This will likely be around for a long time to come and companies that truly invest in solving food sustainability will benefit in result (and, just maybe, mankind, too).
Michael Campbell is the Founder and CEO of FullEffect International, Inc. and Managing Director of FullEffecting Marketing, a boutique consulting firm that provides small and medium size businesses advising services focused on product marketing, and global business development.