Cibus Tec, one of the most innovative events dedicated to food and beverage technology, took place October 24-27, 2023 at Fiere di Parma1. With 80 years of passion for pioneering solutions, Cibus Tec is a highly specialized event where passion for quality food meets technological innovation in the food industry.
What are the technology trends for food?
In 2023, the food industry has witnessed a rapid evolution of technologies related to food processing and treatment. Not surprisingly, more and more people are talking about agrifood innovation and sustainability.
Sustainability has been the ultra-mega trend that has spurred innovations in food science and technology. Technologies for alternative proteins, such as plant-based milk and meat, have experienced rapid double-digit growth.
In addition, artificial intelligence (AI) and machine learning, Industrial Internet of Things (IIoT) and technology-enabled traceability have become increasingly important.
Innovation in the food industry: forecast for 2024
The food machinery industry is experiencing strong growth due to a number of factors, including:
- increasing demand for processed food and beverage products, both globally and locally;
- the evolution of technologies, making machines more efficient, flexible and sustainable;
- the increasing focus on food safety and traceability.
These factors are expected to continue to support the industry’s growth through 2024.
In fact, the global food processing and processing machinery market is expected to reach a value of $120 billion by 2025, with a compound annual growth rate (CAGR) of 6.5 percent.
In Italy, the sector is developing strongly, thanks to the presence of a high-level food and wine industry. Again, the forecast is positive: the Italian food processing and processing machinery market is expected to reach a value of €3 billion by 2025, with a compound annual growth rate (CAGR) of 5.5 percent.
Food innovation: 3 major industry growth trends
Driving the growth of the food machinery industry for 2024 are the following 3 trends:
- Automation: this is a key trend in all industries, and this sector is no exception. Automated machines can improve the efficiency, safety, and quality of production.
- Artificial intelligence (AI): Artificial intelligence is becoming increasingly important. AI machines can be used to improve production control, predictive maintenance, and food safety.
- Sustainability and innovation in agribusiness: Consumers are becoming increasingly concerned about sustainability. Machinery manufacturers in the industry are investing in technologies that reduce the environmental impact of production.
Opportunities for companies in the industry
Some of the industry’s biggest opportunities for the near future include:
- Invest in innovative technologies: companies that invest in innovative technologies, such as automation, artificial intelligence and sustainability, will be able to compete more effectively in the marketplace.
- Expand presence in international markets: Presence in foreign markets is now a must for companies that want to grow, to be addressed with structured projects supported by professionals.
- Collaborate with other companies in the industry: collaboration, the creation of partnerships and supply chains, can help companies share resources and knowledge, and develop new innovative solutions.
At Roncucci&Partners we help companies develop themselves and their business, embrace change and evolve to thrive in a world that is increasingly complicated, insidious and requires great expertise. We do this by applying punctual methods and rigorous strategies, the result of many years of experience and the richness of the numerous success stories we have conducted all over the world. Passion and method are indeed our guides to enhance the present and build the future.