What’s in MY Food? – How Technology is Changing the Food Journey from Farm to Fork!
All the vital news, analysis, and commentary curated by our industry experts.
Emerging technologies jump into action for the foodservice sector in a push towards greater efficiency and scale to meet future needs. The growing consumer interest to know what’s in my food is one of the key drivers of technology adoption. As the sector is plagued by the COVID-19 pandemic, the tech transformation has reached new heights.
What are the sector innovation insights?
Emerging technologies are promoting supply chain transparency to help the foodservice sector comply with regulations, avoid recalls and outbreaks related to foodborne diseases, meet consumer expectations, and support cleaner eating trends, among others. Increased inclination towards veganism and a healthy lifestyle has demonstrated consumers’ willingness to rapidly embrace new foods. To build a sustainable and secure food ecosystem, startups, as well as midsize to massive conventional protein producers, are hoping to get a piece of the pie in the alternative protein market.
Contactless technologies emerged to be the holy grail of the foodservice sector in the wake of the COVID-19 pandemic to keep up with government regulations as well as consumer expectations. Aerial delivery, which was once most desirable for emergency medicine, is on the cusp of a historic decade given the demand for last-mile delivery is taking flight in the foodservice sector. Drones are aimed at delivering a meal from the point of preparation straight to the consumer’s door without human intervention.
What are the key challenges faced by the foodservice sector?
The foodservice sector is often challenged by increasing production costs, growing competition, inefficient inventory management, increasing food wastage, and consumers getting pickier about what they eat. Moreover, the impact and implications of the COVID-19 pandemic resulted in new challenges to sustain growth.
While foodservice channels offer a major growth opportunity to sector suppliers, for individual operators’, intense competition means that finding new sources of growth is increasingly vital. This is true not only for the major profit operators and contract caterers but also for smaller chain operators and independents seeking to permanently stay relevant to their customers.
Consumer preferences and expectations
Consumers, particularly millennials, have fast-changing tastes and preferences and are more demanding in their food choices with ethical credentials and provenance featuring as most as heavily as taste in their foodservice choices. With lives rich in sources of new types of foods, cuisines, and tastes to try, as well as increasingly demanding being able to eat anything, anytime, anywhere, reacting to these demands is a key strategic consideration for many businesses.
Digitalization and e-commerce
Digitalization of the sector represents a major challenge within the store and out of store marketing and ordering changing. For smaller players, simply using an aggregator may represent the best option, but larger players often need to invest in their own systems or risk losing share.
Business models (outlet vs delivery)
The growth of online food delivery and takeaway meals challenges many business models in general. Fees charged by aggregators and that home delivery meals mean typically fewer items and less drinks than compared to a dine-in meal are ordered implies many operators need to adjust their business models to suit the new economic realities.
Rising costs and achieving scales efficiencies
Cost control is key for any business, but with downward pressure on many consumers’ disposable incomes, but rents, supplier costs, and labor costs are all increasing for operators globally, the need to control these is intense. For many chains achieving economies of scale is also key, meaning that a tightrope between expansion imperatives and cost control needs to walk.
Who are the major players in the foodservice value chain?
Major players in 3D food printers are Natural Machines and Open Meals while Novameat and Redefine Meat are few players in 3D printed food. Service providers such as Dishcraft and Fraunhofer to name a few are using disruptive technologies to adhere to workplace sanitation policies and maintain good hygiene without human interference.
Foodservice value chain, by key players
To know more about key players, download a free report sample
Market report scope
|Key challenges||Increasing production costs, growing competition, inefficient inventory management, increasing food wastage, and consumers getting pickier about what they eat.|
|Key players||Natural Machines, Open Meals, FoodChain ID, FoodDocs, NTU Singapore, Bosetei, Cargill, Hyperledger, Incr-Edible, Atria Innovations, Novameat, Redefine Meat, Nestle, Coca-Cola, Remilk, and Change Foods.|
- Theme Exposure Map: presents the top themes impacting the sector over the last three years compared to other sectors.
- Patent Filings Chart: displays the top ten themes in the sector with the highest number of patent filings over the last three years.
- Innovation Map: key real-world innovation use cases of emerging technologies implemented by enterprises and startups in the sector.
- Innovation Insights: innovation examples by each value chain segment of the sector to present key trends.
- Vendor Map: represents a sample list of vendors in each use case highlighted in the report.
Reasons to Buy
- No surprise that technology has been a driving force in business transformation for years, but the term ‘emerging technologies’ has all of the sudden become the key catalyst to drive the next wave of innovation across sectors.
- The sense of urgency weighs different across different sectors, where the direct customer-facing sectors are at the forefront compared to other capital-intensive sectors. Companies in one sector can take cues from successful innovations in other sectors to either draw analogies with existing products, services, and processes or transfer strategic approaches for a revolutionary transformation.
- Against this backdrop, enterprises need to understand which emerging technologies are impacting their sector and how various companies are implementing them to meet various challenges.
- The innovation landscape report in foodservice, published by GlobalData as part of an ongoing series, covers some of the key trends, use cases, and real-world examples related to the implementation of emerging technologies across the foodservice sector value chain.
Paramount Fine Foods
El Pollo Loco
Table of Contents
Table of Contents
1. Sector innovation insights: overview
2. What are the key sector strategic challenges faced?
3. Which technologies are helping the sector?
4. Theme exposure map: sector benchmarking
5 Patent filings: theme benchmarking
6 Innovation map by sector value chain: key use cases
6.2 Food & Beverage Suppliers
6.3 Catering Service Providers
6.4 Channels (& Operators)
6.5 Food Delivery Specialists
7 Vendor map by sector value chain: key use cases
Frequently asked questions
What are the key challenges faced by the foodservice industry?
Key challenges faced by the foodservice industry include increasing production costs, growing competition, inefficient inventory management, increasing food wastage, and consumers getting pickier about what they eat.
Who are the major players in the foodservice value chain?
Key players adopting emerging technologies in the foodservice value chain include Natural Machines, Open Meals, FoodChain ID, FoodDocs, NTU Singapore, Bosetei, Cargill, Hyperledger, Incr-Edible, Atria Innovations, Novameat, Redefine Meat, Nestle, Coca-Cola, Remilk, and Change Foods.
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