European startups account for more than 50% of the total finalists in the 2023 FoodTech 500 ranking. As we take a look at the European region's rich AgriFoodTech ecosystem, we shine a light on the top countries and companies that make the list.

European AgroFoodTech in numbers

According to the Food Tech Data Navigator, Europe recorded a total of €5.6 billion in 2023; This represents a decrease of -60% compared to 2021 and a decrease of -44% compared to 2022. Funding for AgriFoodTech in Europe may have decreased, but Europe's total share of global investment has increased; from 23% in 2021 to 36% in 2023.

Europe also managed to escape the general trends of the global AgriFoodTech ecosystem, which recorded a negative CAGR of -2.6%; and registered a CAGR of 4% between 2018 and 2023.