Partnerships, M&A, co-developments and collaborative models best suited to leverage new technologies, finds Frost & Sullivan’s TechVision team
London – August 29, 2017
The dairy industry is intrinsically complex and multifunctional with consumer demand and current market conditions prompting the reshaping of the industry to deliver improved product quality, stability and safety to customers, while reducing energy and costs. Simultaneously, the advent of novel technologies in the fields of life science development, advanced material design, microelectronics and nanotechnology, advanced thermodynamics, food engineering and processing, and Internet of Things (IoT) innovations are converging through food safety testing applications and smart food safety management. This constitutes a unique opportunity for companies to embrace new food safety solutions.
Frost & Sullivan’s research, “Breakthrough Technologies Enabling Food Safety in the Dairy Industry,” profiles emerging technologies that will enable the dairy sector to meet future needs, as well as open up new possibilities for the sector to impact and converge with others. Control measures in the dairy value chain are associated with the environment, crop production and harvesting, feed manufacturing, animal husbandry and milk production, processing and manufacturing, transport and distribution, retail, and consumer.
“Partnerships, mergers and acquisitions, co-development and other collaborative models are best suited to leverage new technology in the design of smart solutions and products for market penetration and adoption,” said Frost & Sullivan TechVision Senior Industry Analyst Cecilia Van Cauwenberghe. “Standardization and compliance are crucial to success. Therefore, food safety best practices must be implemented from the beginning, including the adoption of technology for pathogens, allergens, mycotoxins, genetically modified organisms (GMOs) and yeast detection.”
Players should look to embrace novel products and solutions across the dairy value chain, including:
“The deployment of modern systems may be a challenge for many companies trying to harness technological advancements due to initial costs, complexity management, and difficulty in integrating technologies within different business processes,” noted Van Cauwenberghe. “Although, dairy companies are starting to leverage IoT with a focus on the key enabling technologies to make the concept of connected safety a reality.”
Source: Frost & Sullivan
Illustration Photo: Dairy products (credits: PBS NewsHour / Flickr Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0))