ICEX Spain Export and Investment has presented the second edition of its study regarding the Spanish Foodtech sector, under the title: “Foodtech in Spain: Moving the Spanish Food System Forward”.
Foodtech covers everything that has to do with the application of cutting-edge technologies to food: from production to distribution and consumption, through innovation in products, logistics, marketing or business; everything that offers a new, improved value chain that embodies food safety and efficiency, as well as new solutions that drive sustainability. It is about applying innovative methodologies such as robotics, blockchain, artificial intelligence and big data to build a more resilient food ecosystem.
The sector has experienced a very notable boost in 2021, consolidating its position as a strategic niche for innovation in the food industry.
As highlighted during the presentation by the CEO of ICEX Spain Export and Investment, María Peña, “The FoodTech sector forms a complex ecosystem, where operators, technology and financing sources interrelate. ICEX aspires to become an accelerating factor that increases synergies in this ecosystem”. And he added that “ICEX is committed to being a FoodTech Nation, in addition to the Food Nation, which we already are. We want to accompany the companies in the sector on their path to internationalization”.
The sector establishes itself as a lever for the Spanish food industry
Spanish startups have attracted a total investment of 695 million euros in 2021with an increase in investment of 220%, compared to 2020, and 101% compared to 2019, which highlights the great potential of this ecosystem.
This 220% growth in investment in this ecosystem during 2021 is largely due to the startup Glovo, but also to investments in alternative proteins and in the digitalization of agriculture. (It should be noted that in 2020 Glovo did not obtain investments).
Currently, Spain has one of the most prolific ecosystems of Foodtech entrepreneurship. In fact, more than 400 startups are working to develop the future of the agri-food value chain.
According to the latest data published by the INE, the turnover of the food and beverage industry in Spain amounts to 130,795.8 million euros, which represents 23.3% of the industrial sector, 22.1% of employed persons and 19.2% of added value. In addition, this industry encompasses 30,573 companies, that is, 15.6% of the Spanish business fabric.
Technological strength is key to the proper development and competitiveness of Spanish Foodtech startups in the global market. According to a study by Eatable Adventures, 30% of Spanish startups have a patent for their technology and 33.7% a trade secret.
Advocating for sustainability in the value chain
In the startups involved in agritechwe find many crop automation solutions, which account for 36% of Agritech’s total, followed by new crop systems, with 18%.
In transformation, packaged foods developed with novel ingredients increased from 42% in 2020 to 47% in 2021, followed by the production of emerging companies working on new sources of ingredients, such as plant-based, fermentation and cellular, which represent the 24%.
Among the solutions for the distribution of food to the final consumer, Spain is the world leader in delivery, fruit of the success of Glovo. The category of direct-to-consumer models is the absolute leader in distribution and retail sales, with 75%.
In the technology section for restaurants, the development of tools for digital management grew in the last year from 22% to 40% of startups.
ICEX immersion program
ICEX has a whole range of instruments to support the Foodtech sector: in addition to providing strategic information in key countries, it dedicates an area to it in Invest in Spain and also a new section of the Foods and Wines from Spain (FWFS) portal to give it the maximum international visibility and make it the flag of our food industry.
On the other hand, with financing from Next Generation funds, it is developing the immersion program Challenge Foodtech – Netherlands 2022, one of the most cutting-edge ecosystems in the world. The first edition of the program was held last November. The call for the new edition has just been launched.
