Food Frontier CEO Thomas King highlighted the economic opportunities alternative proteins offer Australia today as part of a panel at the 2020 Global Food Forum.
Presented by The Australian, the Forum aims to “set the agenda for the future of agribusiness in Australia” and featured leaders across Australia’s agribusiness sector and from global FMCG companies throughout the two-day event.
In the robust panel discussion with Meat & Livestock Australia MD Jason Strong and Mandeville Meat CEO Tim Clarke on “the future of beef in a low carbon economy world”, Thomas shared insights on alternative proteins, from consumer trends to investment and more.
He emphasised the opportunity for farmers in Australia who produce legumes and protein-rich crops to supply the plant-based meat sector, rather than selling on the global commodity market. Thomas said these crops “could be value-added…as a crucial part of reaching that $100 billion target as an industry,” nodding to day one of the Forum in which Fiona Simpson, President of the National Farmers’ Federation, discussed the importance of farmers adding value “at the farmgate” to reach the industry’s 2030 targets.
Beyond highlighting the economic opportunities at hand, he also discussed the sustainability credentials of plant-based alternatives, while weighing in on the environmental impacts of livestock production. Importantly, he highlighted the need for Australia to diversify its protein production with more sustainable options as the global demand for protein is projected to rise 70% by 2050. Australia can meet this demand and maximise the massive opportunity to compete in a growing and diversified global protein market by conventional and new protein sectors working together, as they are in new initiatives such as the Future of Protein Forum.