Food Industry Development

Food Industry Development Overview

By adopting technology to build capacity of farmers and other stakeholders, facilitate the distribution of frozen foods and create collaborative research spaces, Tengrains Science Limited is contributes to the development of the food industry. With the global acceptance of the role of food security in sustainable national and global development, the food industry has witnessed transitions through different phases. The food industry deals with all activities related to the production, processing, marketing, distribution, storage, preservation, preparation and certification of food. With the inclusion of these areas, the industry has transitioned beyond production. It has also become more dynamic and complex involving many disciplines and serving several sectors of the global economy. The industry plays an enduring role in manufacturing, medicine, fashion, and hospitability sectors.
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The world’s growing population, increasing demand for food and consistent technological innovations are indications that the food industry has infinite potentials that may end only when the world stops and decides to eat no more. The industry is currently valued at $8.7 Trillion with an estimated CGAR annual growth rate of 4.8%, and China as one of its biggest players. The growth potentials are however slowed down by challenges relating to political and economic instability, civil unrests, environmental degradation, climate change impact, supply chain and logistics related issues etc. All of which beg for collective action.