Future of Food: Innovations through Biotechnology

Abstract

In recent years, the food industry has changed tremendously in recent times due to present consumer habits and a new generation of scientific breakthroughs. Biotechnology, which arose in the late 20th century as the first systems to allow transfer of genetic material from one organism to another, plays an important role in this evolution. These developments are changing the structure of the food industry, paving the way for genetically engineered foods and new advanced technologies, also helping to create modern agricultural systems that are dynamic in nature. At the same time, companies from this field are looking for innovations with added value, more efficient processes in order to attract the consumer’s attention. This research aims to study the most important development directions of biotechnology, their contribution to changing the modern food industry, as well as economic and social risks and benefits. This study draws on the analysis of cases from companies that are routinely adopting new types of biotechnologies. The research method is based on documentation and direct analysis of studies in this field and relevant data. CZU: 001.895:664; JEL: O31, O33, L66