Alexandria Real Estate (ARE) Make Big Investments in Agrifoodtech

 

Original Content- Business Upside

The past five years have been remarkable for the US Agritech sector due to high technology adoption that attracted wide-scale startup activities and huge investments. The exceptional interest shown by investors like the investment arm of Alexandria real estate resulted in an explosive growth of the Agrifoodtech that includes various farm-related industries. Although agriculture is as old as the hills, the U.S. agriculture sector is much more than farm business only. In the U.S., agriculture has a broader connotation and includes food manufacturing and foodservice.

Agriculture is a significant contributor to the U.S. economy. As of 2019, the contribution of agriculture, food, and related industries to the GDP amounted to $1,109, which translates into 5.2% of GDP (Gross Domestic Product). As the average American household spends 13% of their budget on food, the growth of the food sector, namely Agrifoodtech, seems to be quite evident.

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