The FoodTech market is estimated to reach a valuation of $342.5 billion by 2027, with a CAGR (annual growth rate) of 5.7%. FoodTech ecosystem comprises food and beverages entrepreneurs as well as start-ups, which harness the capability of technology for the manufacturing, processing, packaging, delivery, and marketing of food products. To meet the growing demand, the industry has seen a surge of advanced technologies (e.g. Artificial Intelligence or AI) usage in recent years.