The Indian food and beverage sector will continue to adopt new technologies at an unprecedented rate. The use of blockchain technology for food traceability is expected to become more widespread. The complete ecosystem is expected to evolve from being a linear model to a more complex dynamic chain with multiple inter-linkages enabled by technology interventions. The increasing population requires more food to eat with limited resources available.
The Government of India’s “Make in India” campaign is driving the adoption of Industry 5.0,4.0 technologies such as the Internet of Things (IoT), blockchain, and predictive analytics to elevate the manufacturing and supply chain landscape. The Indian food and beverage market is projected to display a robust growth represented by a CAGR of 7.2 per cent during 2019-2024.
Here are some insights on how the Indian food and beverage industry is adopting the latest technologies
Cloud Computing is being used in the Indian food and beverage industry to handle data exchange and processing. It is also being used to integrate other technologies such as IoT, big data analytics, and artificial intelligence.
Artificial Intelligence is being used in the Indian food and beverage industry to analyse data stored in cloud infrastructure and make fast and reliable intelligent decisions. It is also being used to improve supply chain management, optimise production processes, and enhance customer experience.
The Internet of Things (IoT) is being used in the Indian food and beverage industry to collect and exchange information from the environment. It is also being used to improve supply chain management, optimise production processes, and enhance customer experience.
Big Data Analytics is being used in the Indian food and beverage industry to analyse large amounts of data generated by various sources such as social media, customer feedback, and sales data. It is also being used to improve supply chain management, optimise production processes, and enhance customer experience.
Cybersecurity is becoming increasingly important in the Indian food and beverage industry due to the growing threat of cyber attacks. Companies are using technologies such as zero trust-based security approaches centered on data rather than networks.
Nanotechnology has the potential to revolutionise the Indian food and beverage industry by improving food quality, safety, and shelf life.
Blockchain is a technology that can create a transparent and secure supply chain that allows food producers and consumers to track the journey of food products from farm to table. The Indian food and beverage industry is adopting blockchain in tracking and tracing the movement of food products from the restaurant to the customer
Robotics is helping the Indian food and beverage industry in reducing delivery time and cost. Robotics can also help online food delivery platforms improve customer satisfaction and safety by offering contactless delivery and real-time tracking.
Automation is helping the Indian food and beverage industry by helping farmers in performing various tasks, such as planting, weeding, harvesting, and spraying, using smart machines and drones. This can help them increase productivity, efficiency, and quality of crops. Automation can also help farmers monitor and control the environmental conditions of their fields, such as soil moisture, temperature, and pests, using remote satellite data and in-situ sensors.
Industry 4.0 refers to the integration of new technologies such as IoT, cloud computing, analytics, AI, etc., into manufacturing processes. The Indian food and beverage industry is adopting Industry 4.0 technologies to improve efficiency, reduce costs, and enhance customer experience.
Industry 5.0 refers to the integration of human intelligence with advanced technologies such as AI, IoT, etc., to create new value propositions for customers. The Indian food and beverage industry can leverage Industry 5.0 technologies to create personalised products for customers.
Digital Transformation is helping the Indian food and beverage industry improve efficiency, reduce costs, and enhance customer experience by integrating various technologies such as AI, IoT, cloud computing, big data analytics, blockchain, etc.
The Indian food and beverage sector is undergoing a technological revolution that is transforming the way food is produced, processed, and distributed. The industry is investing in modernisation to keep pace with ongoing trends and regulations. Companies are realising the need to make changes in food safety and transparency in the supply chain.
Some of the challenges and opportunities for technology adoption in F&B sector in India
Challenges
- Lack of cutting-edge infrastructure: Many food processing businesses operate in the small and medium enterprises (SMEs) sector, which often lacks the resources needed to upgrade their facilities and machinery to the latest technology.
- Data silos and low analytics maturity: Most food and beverage companies sit on mountains of data, not knowing how to gain and leverage potentially actionable insight and thereby creating data silos, which are isolated organisational data that are inaccessible to different departments.
- Strict food safety and quality regulations: The food and beverage industry is subject to stringent regulations on food safety, quality, hygiene, labeling, packaging, etc., which require constant monitoring and compliance.
Opportunities
- Digitalisation and Industry 4.0: Adopting a host of new digital technologies to create ultra-flexible and efficient production systems where all factory elements and utilities can seamlessly share information and respond autonomously. Some of the technologies include Internet of Things (IoT), Blockchain, Predictive Analytics, Artificial Intelligence (AI), etc.
- Customisation and personalisation: Utilising business data and customer feedback to tailor production to customer demands and preferences, such as nutrition, taste, convenience, etc.
- Government support and initiatives: The Government of India has launched various schemes and policies to promote the food processing industry, such as Make in India, Pradhan Mantri Kisan Sampada Yojana (PMKSY), Mega Food Parks, etc., which provide financial assistance, infrastructure development, tax incentives, etc.
Comments