BOSTON, Feb. 25, 2021 /PRNewswire/ -- In recent
years, the majority of growth in the food and beverage industry has
gone to companies outside the top 20 players, with smaller and more
agile brands capitalizing on the demand for personalized products
and rapidly shifting consumer behavior and the farm and fork
growing more connected every year.
Lux's food and agriculture experts continuously monitor and
evaluate these and other industry megatrends and events to target
and analyze promising startups capable of capturing the
opportunities created. These startups are evaluated on their
technology, business strategy, leadership, and market positioning,
and those companies awarded a "Lux Positive" or "Lux Strong
Positive" rating were published in Lux's market map "Top Food and
Agriculture Startups of 2020."
"Numerous challenges, from climate to COVID to human migration,
aligned in 2020 to stifle growth across food and agriculture,
laying bare technology, food, and health system weaknesses,"
explains Josh Haslun, Ph.D., Senior
Analyst at Lux Research. "These vivid impacts are not without
opportunity, even as the lines across value chains blur. Picking
the right startups and partners to remain ahead in this dynamic
period is critical, and Lux's methodology and expert knowledge
achieve that outcome."
The startups are categorized into four key trends the
agrifood industry should be tracking:
1. The Food Company of
2050 – Major food companies face intense competition from
smaller, more agile brands. With personalization in focus, there
are fewer benefits to being big; innovating at an increasingly
granular, regiospecific level to address changing consumer demands
will be key.
2. Doing More with
Less – Companies whose businesses rely on consumption for
top-line growth – from foods to agrichemicals – face pressure to
diversify. Meanwhile, producers are reducing resource use, driven
by concerns of affordability and scarcity. With the exception of
new product innovations, linking services and products to
measurable outcomes through digital integration is becoming
increasingly important.
3. Transformative
Innovations Disrupt the Entire Ecosystem – Major transformative
innovations underlie the products and services that drive consumer
markets; innovations in bioinformatics, POU sensing, and ingredient
informatics are disrupting the space to reduce the cost of and
resource investment in discovery.
4. Consumers'
relationships with health are evolving toward prevention and
personalization – Prevention and personalization are reshaping
consumers' choices, empowering them to make lifestyle decisions
that explicitly influence health outcomes. This will drive massive
market potential.
"Doing more with less and transformative innovations were the
most highly populated of the four trends and highly focused on
agricultural solutions, indicating both the need and overall
readiness to transition the value of innovative solutions to the
food system," continues Haslun. "This is not to say that the
momentum towards the food company of 2050 or consumers'
relationships with health trends are underdeveloped. In fact, the
strong presence of key ingredient developers and emerging presence
of health IoT and personalized nutrition solutions are synonymous
with momentum across food and agriculture. The collective
result presents well the leading areas to engage and the types of
players to interact with in 2021 as these trends continue
forward."
The named top startups include: TerraCycle, Aphea.Bio, Agrorim,
Agritask, Montana Microbial, Solynta, FoodLogiQ, Ceradis Crop
Protection, Supplant, ProAgni, Growcentia, SmartSolve, eLEAF,
Plantix, SatAgro, Saturas, Azotic Technologies, Pacific GeneTech,
Vibe Imaging Analytics, Enko Chem,
Tropic Biosciences, Conagen, Descartes Labs, Brightseed,
Lavie Bio, Biomeme, Ectosense,
LifeFuels, Notpla, Prolupin, Inbiose, and Perfect Day. Download the
market map to learn more.
Media Contact:
Jessica Bonner
617-502-5319
press@luxresearchinc.com
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SOURCE Lux Research
