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Agtech’s new horizon: Five game-changing predictions for 2024

In a Forbes article by Shayna Harris, titled “Five Predictions For Food And Agtech In 2024,” industry experts share their insights on the future of food and agricultural technology. The article highlights the significant role of food in our lives, noting that nearly half of the world’s population is involved in agrifood. The sector faces uncertainties due to climate instability, food price inflation, and political challenges.

The top five predictions for 2024 in the food and agtech sector that Shayna Harris discusses in the article are:

  1. Farmland as a Key to Carbon Management: Experts emphasize the importance of soil management and regenerative farming in mitigating climate change. They advocate for funding these solutions, as agriculture significantly contributes to carbon emissions.
  2. Rise of Alternative Proteins: Despite recent setbacks in market valuations, such as Beyond Meat’s decline, investors and founders remain optimistic about the alternative protein industry. The focus is shifting towards cultivated proteins and deeper-tech products like precision fermentation.
  3. Carbon Insets Over Offsets: With new carbon disclosure requirements, the industry is moving towards carbon insets – integrating carbon management into their supply chains. This approach includes innovative feeds to reduce methane emissions and biotechnological innovations for soil health.
  4. Revolutionizing ‘Boring’ Industries: Experts predict that technology will transform industries like labor, agriculture, health, and food delivery, which have not seen major innovations since the Green Revolution.
  5. Investing with Caution and Focus on Fundamentals: The venture capital landscape is becoming more cautious, with a focus on companies that have strong fundamentals in unit economics and customer demand.

For more details, read the full article on Forbes: Five Predictions For Food And Agtech In 2024.

Source: Forbes
Photo: Credit Anthony Rahayel on Pexels

Editor & Publisher: Lukie Pieterse


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