A recent Interbrand report has brought the “Taste Arena” into the spotlight, revealing a massive 15.4 trillion USD opportunity with an impressive annual growth forecast of 8.4% for the next five years. Within this vast landscape, a notable trend emerges, as articulated by Gil Horsky, Founding Partner of FLORA Ventures, a leading agrifood-tech and sustainability venture capital fund.
Horsky astutely points out that established industry leaders often overlook what they consider “smaller” innovation prospects, inadvertently leaving untapped opportunities on the table. In response, incumbents increasingly seek to invest in these startups through M&A or VC funding, realizing the potential they bring to the ‘Taste Arena’.
This dynamic and diverse competitive space encompasses food, beverages, agriculture, and sustainability, making it a fertile ground for creative solutions that address evolving consumer preferences, sustainability imperatives, and technological advancements.