The impetus to embrace agricultural technology (or agritech) in Asia is ever more critical. Asia expects to more than double its total spending on food from US$4 trillion in 2019 to over US$8 trillion by 2030, driven by limitations in traditional agriculture[1], a rapidly growing middle-class population in Asia and a correspondingly increasing consumer appetite for better quality, fresh and nutritious food options.
Agritech has consequently emerged as an avenue to elevate farming practices to produce higher and better-quality yields more productively. In Southeast Asia, the region alone is already home to more than 270 agrifoodtech start-ups, experiencing significant growth with more than US$3.6 billion invested between 2013 and 2022. The acceleration of agritech adoption[2] in Southeast Asia has also enabled the region's agrifoodtech ecosystem to grow at a remarkable 54 per cent CAGR, surpassing the 13 per cent CAGR recorded for the global start-up ecosystem between 2019 to 2022. These investment trends reflect the region's continued commitment towards food technology innovation, with a focus on automation, alternative proteins, controlled environment agriculture, and decarbonisation for more sustainable and efficient food production.
As the cornerstone event of the Singapore International Agri-Food Week (SIAW)[3], AFTEA serves as a premier launch pad for agritech companies to showcase innovative technologies, products and solutions that future-proof the region's agricultural industries. It also provides a valuable platform for key decision makers - including food manufacturers, processors, policymakers, farmers and growers, and investors - to explore the latest technologies and preview novel and alternative food products designed to sustain and shape the future of food systems.
"In a rapidly evolving landscape where concerns with sustainability and food security, powered by technological advancements are transforming the agrifood sector in Asia, AFTEA serves as a vital platform for dialogue, collaboration and innovation to shape the future of the agrifood industry. I encourage all agribusiness stakeholders to participate in AFTEA 2024, to share and discover groundbreaking innovations in agri and food technology, sustainable and regenerative farming, alternative proteins, aquaculture, and more," said Mr Chen Yuyuan, Portfolio Director, Constellar.
Key Highlights in 2024
This year, AFTEA will delve into three key aspects of the agritech business – Innovation, Safety and Sustainability – to drive progress and advancement in the region's agrifood industry.
- Innovation: Solutions and latest technologies that can help farmers and food tech companies scale food production, accelerate business transformation, expand distribution channels, and bridge financial support.
- Safety: Solutions covering aspects of food tracking, traceability, hygienic design, fraud prevention, standards and certification, inspection and detection technologies.
- Sustainability: Sustainable solutions that transform food production and preserve the environment through energy conservation, resource optimisation, and fresh- and wastewater management.
- AFTEA 2024 will feature over 300 exhibitors showcasing cutting-edge advancements and latest innovations in the key exhibit themes[4], including country pavilions from France, Hungary, Israel, Japan, Singapore, Spain, Sweden and The Netherlands, alongside key industry players such as DPR, Dragino, Eurofins, Grain Arianetech, JS Biosciences, Nexton, Priva, SCIEX and Shenzhen FY Lighting. Among these exhibitors are about 100 start-ups, contributing to the largest agrifood and agritech start-up ecosystem in Southeast Asia.
Other highlights include:
- Cultivated Meat Pavilion: Supported by the Asia-Pacific Society for Cellular Agriculture (APAC-SCA), the pavilion will return after its successful launch last year to showcase the latest in cultivated meat products. This year, the pavilion will feature Avant Meat, Cell Agritech, DPR Construction Asia Pacific, JS Biosciences, and more.
- Founder's Hub: A dynamic platform fostering innovation and entrepreneurship within the agribusiness sector, the Founder's Hub will host a pitching stage for start-up competitions and among the featured events will be a global start-up competition organised in partnership with Innovate 360. The space will also house a start-up pavilion led by Innovate 360 and Impact Circle, where start-ups can network, collaborate, and explore opportunities for growth and investment.
- Living Lab Tech Showcase: Sananbio, expert in vertical farming and horticultural lighting pioneering sustainable bio-based solutions for a greener future; Inong Agriculture Co Ltd, a Big Data-powered soil microbe expert offering cash-crop-specific solutions that leverage on customised probiotics to increase crop yield sustainably; and Takamiya, manufacturer of high-performance greenhouses for agriculture, will be showcasing their latest collaborative projects. The showcase includes Sanobio's intelligent plant cultivating system that integrates LED lighting technology. This system is currently deployed in a new-generation automated plant factory in China's Fujian Province, capable of achieving a daily industrial production of 1.5 tonnes of vegetables to supply to nearby cities Fuzhou, Xiamen and Quanzhou.
- Sandbox: Through a variety of engaging formats including solo presentations, fireside chats, and panel discussions, the Sandbox will enable corporates and industry organisations to showcase and discuss the latest agricultural trends and agritech innovations. Attendees will discover practical solutions for improving crop yield, reduce costs, as well as improve their understanding of agritech solutions.
For media enquiries and interview requests, contact the Constellar Communications team at comms@constellar.co.
About Agri-Food Tech Expo Asia
Agri-Food Tech Expo Asia (AFTEA) provides a focused exhibition platform with a "living lab" environment, thematic experiential zones, sandbox and community-based learning for emerging and established industry players in the agrifood industry to launch, showcase and testbed their solutions. Organised by Constellar with international content partner DLG (the German Agricultural Society), AFTEA is a key participating event of the Singapore International Agri-Food Week (SIAW), organised by the Singapore Food Agency (SFA) and Temasek, in partnership with the Singapore Economic Development Board, Enterprise Singapore, Singapore Tourism Board (STB), the Agency for Science, Technology and Research (A*STAR), and event organisers Rethink Events and Constellar. Visit agrifoodtechexpo.com for more information.
2023's edition attracted over 7,500 attendees from 82 countries and regions, with more than 200 global exhibitors. The event also facilitated over 500 business matches and hosted 110 sharing sessions at the Sandbox and Founder's Hub, conducted by over 140 industry experts.
About Constellar
Constellar is Asia's preferred partner for convening businesses, curating ideas and creating opportunities for sustainable business growth and global impact. Based in Singapore with a regional footprint in China and Malaysia, we curate and develop influential trade and consumer events for key industries, connecting global marketplaces in sectors such as fintech, industrial transformation and ESG. We also manage the Singapore EXPO, Singapore's largest purpose-built venue for Meetings, Incentives, Conventions and Exhibitions (MICE). Our vision is to be a global leader made in Asia, activating impactful networks to enable cross-industry collaboration and innovation through our holistic portfolio of intellectual properties (IP) in the MICE industry. Visit Constellar.co for more information.
[1] These limitations include inadequate farmable land, global warming creating unfavourable growing conditions, labour shortages, risk of soil-borne pests and diseases, amongst others.
[2] Key observations include the following:
• Malaysia implementing its National Food Security Policy Action Plan 2021-2025 and the National Agrofood Policy 2021-2030 to bolster food production with the adoption of modern technologies and economies of scale;
• Thailand's 'Future Food' roadmap from 2022-2027 to support innovations such as alternative proteins and 3D food printing;
• Philippines attributing about US$480 million for climate-smart agriculture and food systems from 2022 to 2025;
• Indonesia's agritech industry expected to grow at a CAGR of 31% between 2022-2026 with influx of foreign investors and start-ups and Farming as a Service (FaaS) contributing the most to the growth, and
• Singapore launching its "30 by 30" Initiative to build up its agrifood industry's capability and capacity to sustainably produce 30% of their nutritional needs by 2030, significantly enabling an increase in funding in agrifood-tech investments, from US$5.9 million in 2029 to US$169.8 million in 2022.
[3] AFTEA is the leading event of the Singapore International Agri-Food Week (SIAW), which gathers global industry leaders, policymakers, and innovators to build new partnerships and explore opportunities for agrifood technology development and adoption across the region. SIAW's other constituent events include Asia-Pacific Agri-Food Innovation Summit, the SFA Global Agri-Food Scientific Symposium, and SFA Roundtable on Novel Food Regulations.
[4] The exhibit themes are Alternative Proteins, Aquaculture, Food Safety & Security, Novel Food Technology, Smart Processing & Packaging, Sustainability & Resource Management, Technological Solutions, Urban & Smart Farming.
Source: Constellar
Reporter: PR Wire
Editor: PR Wire
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