27 Sep Growth of food-tech in Asia
The growth of food-tech in Asia: Here is what you need to know.
The global food-tech industry has grown from US$220.32 billion in 2019 and is projected to reach US$342.52 billion by 2027, at a CAGR of 6.0%, according to Emergen Research. This can be linked to the global food crises, with the heightened need for innovation in food security.
Many Asian countries have been actively spearheading food-tech advances in recent years. Consumers in Thailand, Singapore, South Korea and Japan are also growing accustomed to plant-based and cultivated seafood from cells, with regulatory pathways in these countries opening up.
According to the Thai Ministry of Commerce, Thailand has one of the biggest markets in the APAC (Asian-Pacific) region, reporting sales of US$3.5 billion across the nutraceuticals industry in 2019.
At NAOS International, our Senior Consultants have a strong network of top senior talents Tech space – including FoodTech – across Asia. Reach out to our team for advise on your hiring needs.
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