Venture Capital
Andrea Alms Video: Money In Motion 20 - The Future Of Food AI Part 2
Transcript:
Hello. My name is Andrea Alms I am technology investor and financial manager. And this is your money in motion. On our last episode we introduced the food waste and global artificial intelligence market in the food and beverage. What we learned last time, we each throw away about 74 kilograms of food waste per person per year. Food waste is an issue that goes far beyond the wasteful consumer. There are many causes of food waste across the food value chain, from agriculture to transportation and the shops where we buy our groceries. Artificial intelligence software is shown to reduce supermarket food waste. Also, last time we learned this category is under the artificial intelligence market. In food and beverage industry, the market size is about 5 billion U.S. dollars. In 2021, the compound average growth rate is 21% over the next five years. Yet another report cites the global artificial intelligence, food and beverage market is valued at 4.5 billion in 2021 is expected to grow 45%. The artificial intelligence in food and beverage is highly fragmented on this chart, AI food market players are located on the lower end of the spectrum. In green of these fragmented players are some heavy hitters who are acquiring startup, working on artificial intelligence, beverage and food to strengthen the product capabilities. Some of these heavy hitters include Toma Ross, Sorting Solutions, Rockwell, Honeywell, among others. In summary, a multibillion dollar market, double digit growth, high M&A activity. Let's keep an eye on this. Thank you. This is your money, your money in motion.