According to GlobalData, fintech research and innovation in the food manufacturing sector has declined over the past year.
The latest figures show the number of fintech-related patent applications in the industry rose to nine in the three months to March – up from 18 in the same period in 2021, said GlobalData, the parent company of Just Food.
GlobalData, the parent company of Just Food, tracks patent filings and approvals from offices around the world. Using textual analysis, as well as official patent classifications, these patents are grouped into thematic areas and linked to key companies in various industries.
Fintech is seen by GlobalData as a disruptive force that businesses will face in the coming years and is one of the areas where companies currently investing resources are expected to reap rewards.
PepsiCo Inc was the top fintech innovator in food manufacturing last quarter. The company filed six fintech-related patents in the three months to March. That was down from eight over the same period in 2021.
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