Asia’s agrifood and foodtech sectors are gearing up for a significant event as the Agri-Food Tech Expo Asia (AFTEA) prepares to return for its third edition from November 19 to 21, 2024, at the Sands Expo & Convention Centre in Singapore. Organized by Constellar in collaboration with the German Agricultural Society (DLG), AFTEA has positioned itself as the premier sourcing and networking platform for the region, focusing on the critical themes of food sustainability and security.
As the global population grows and consumer demands shift, the need for innovative agricultural technology (agritech) has never been more pressing. Asia’s spending on food is projected to soar from US$4 trillion in 2019 to over US$8 trillion by 2030, driven by a burgeoning middle class and a growing appetite for high-quality, nutritious food. Traditional farming methods face challenges such as limited arable land, climate change, and labor shortages, prompting a shift towards agritech solutions that promise to enhance productivity and yield quality.
Southeast Asia has emerged as a hotspot for agrifoodtech innovation, boasting over 270 start-ups and attracting more than US$3.6 billion in investments from 2013 to 2022. This rapid growth, with a compound annual growth rate (CAGR) of 54%, significantly outpaces the global start-up ecosystem’s 13% CAGR during the same period. Such investment trends underscore the region’s commitment to advancing food technology, focusing on automation, alternative proteins, and sustainable practices.
AFTEA serves as a vital platform for stakeholders in the agribusiness sector, including food manufacturers, policymakers, and investors, to explore groundbreaking technologies and solutions. Mr. Chen Yuyuan, Portfolio Director at Constellar, emphasized the importance of dialogue and collaboration in addressing the challenges of sustainability and food security. The expo will showcase innovations across three key themes: Innovation, Safety, and Sustainability, each aimed at propelling the agrifood industry forward.
The Innovation segment will feature solutions designed to help farmers and food tech companies scale production and transform their businesses. The Safety aspect will cover essential topics such as food tracking, traceability, and hygiene standards, ensuring that consumers can trust their food sources. Sustainability will highlight practices that conserve resources and promote environmentally friendly production methods.
AFTEA 2024 is set to host over 300 exhibitors, including country pavilions from nations such as France, Japan, and The Netherlands, alongside major industry players like DPR and Eurofins. Notably, around 100 start-ups will participate, reinforcing Southeast Asia’s status as a leading agrifood and agritech ecosystem.
Among the highlights is the Cultivated Meat Pavilion, supported by the Asia-Pacific Society for Cellular Agriculture, which will showcase the latest developments in lab-grown meat. Additionally, the Founder’s Hub will serve as a dynamic space for start-ups to pitch their ideas and foster innovation within the agribusiness sector. This hub will include a global start-up competition, encouraging collaboration and investment opportunities.
Another exciting feature is the Living Lab Tech Showcase, where companies like Sananbio, Inong Agriculture Co Ltd, and Takamiya will present their cutting-edge projects aimed at sustainable agriculture. These initiatives include advanced vertical farming systems and customized probiotics designed to enhance crop yields.
The Sandbox area will facilitate discussions on agricultural trends and agritech innovations, offering attendees insights into practical solutions for improving crop yields and reducing operational costs. Through various formats such as panel discussions and solo presentations, industry experts will share their knowledge and experiences, contributing to the ongoing evolution of the agrifood sector.
As AFTEA 2024 approaches, it promises to be a pivotal event for the agritech community, providing an essential platform for collaboration, innovation, and investment that can shape the future of food production in Asia. With the stakes higher than ever in the face of global food challenges, the expo represents a beacon of hope and progress in the quest for sustainable agricultural practices.
