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Foodtech Report

2021 Annual

Foodtech Report

February 10, 2022

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Foodtech funding doubles in 2021 as VCs ramp up their investments

The foodtech sector is rapidly evolving due to shifting consumer behavior, technological innovation, supply chain vulnerabilities, and increased focus on sustainability.

Our 2021 Annual Foodtech Report deep dives into the sector's investment activity, comprehensively assessing emerging opportunities across market segments—led by alt-proteins, online grocery, and delivery robots.

Key takeaways

  • VCs poured more than $39 billion into foodtech companies in 2021, with more than half of those dollars going into two categories: online grocers and apps & marketplaces.
  • We expect the momentum for bio-engineered foods, such as plant-based proteins, to continue into 2022 as startups create more realistic alternatives to meat and dairy products.
  • China has become a hotbed for online grocery as startups such as Xingsheng Selected, Nice Tuan, and Pupumall compete for a massive market opportunity to serve areas with high populations.

Table of contents
Vertical overview 3
2021 timeline 4
Foodtech VC ecosystem market map 5
VC activity 7
Segment overview 9
Bio-engineered foods 10
Food suppliers 21
Intermediaries & delivery 32
Industrial & consumer tech 42
Discovery & review 52
Appendix 62