5 Ways IoT is Transforming the Food and Beverage Industry
The food service industry is an highly dynamic and evolving industry, where the Internet of Things can create real value for businesses that distribute, deliver, and sell food and beverage products.
According to a report by ReportLinker, “The Internet of Things (IoT) and traceability for food and beverage (F&B) manufacturing market was valued at $4.08 billion in market revenue in 2017 and is expected to reach $8.43 billion by 2025, growing at a compound annual growth rate (CAGR) of 9.5%”.
There is no doubt that by adopting IoT, the food and beverage industry can run to its highest potential. IoT is helping companies to achieve high levels of food safety, improve traceability, cut down wastage, and reduce costs and risks across the different stages of food processing and packaging.
One of the primary goals of the F&B industry is to deliver high quality food to the end consumer, which directly depends on how the food is stored before it reaches the consumer’s basket. Maintaining adequate temperature and humidity levels is one of the primary concerns in storing perishable food products such as meat or dairy. This can be done by properly monitoring the food service equipment round the clock, regardless of whether the staff is present, or the stores/warehouses are open or closed.
Any compromise in the food storage environment would affect the food quality and result in heavy losses due to spoilt or expired inventory.
The benefits offered by IoT technology in the food and beverage industry are plenty, and the impact of the technology is also extremely impressive over the last few years. Let’s check out some of the key effects of IoT in food Industr