The French AgriTech and FoodTech sectors are experiencing substantial growth, as revealed in a study by KPMG, a global leader in audit, tax, and advisory services.
The study, conducted by the KPMG sector experts, found that France’s AgriTech and FoodTech industries had a substantial investment influx, witnessing an increase of 56% from 2019 to 2020. In addition, it was noted that the industry had received €607 million in investments during 2020.
This growth trajectory highlights a strong interest among investors and indicates a promising future for the French AgriTech and FoodTech sectors. The sectors’ resilience during the COVID-19 pandemic underscores the importance of this industry to France’s economy and its potential role in the global food supply chain.
“The strong interest from investors in the AgriTech and FoodTech sectors is a result of the recognition of the significant opportunities these sectors offer in terms of innovation, growth, and sustainability,” explains Anne-Laure Sellier, Associate Director, Startups, and Philippe De Backer, Partner in charge of the Agri-Food sector at KPMG France.
According to the KPMG report, 36% of total investments were directed towards the food and grocery e-commerce sector, followed by agrifood tech and restaurant tech, each receiving about 14% of the total investment.
A vital aspect of the industry’s growth has been the increasing focus on sustainability and environmental impact, with innovative startups leveraging technology to create sustainable food and agriculture solutions.
The study also predicts that this sector could be a driver of job creation in the future, with the potential to create 300,000 jobs by 2030, adding a considerable boost to the French economy.
These findings underscore the significant role that the AgriTech and FoodTech sectors could play in France’s future economically and in terms of sustainable development. The current growth trends suggest that these sectors are poised for continued success, driven by innovation, investment, and an increasing focus on sustainability.
In conclusion, the study from KPMG confirms the promising outlook for the French AgriTech and FoodTech industries, demonstrating their potential for growth, innovation, and contribution to a sustainable future.
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