A new report from The Good Food Institute Israel says Israel is leading the world as “an alternative proteins powerhouse”, driven by support from policymakers, private investment, strong intellectual capital and an export mindset. The nation leads the world in investment in plant based proteins (US$160M), and comes second only to the US (US$320M vs. US$857M, respectively) in money invested in the alternative protein industry as a whole.
Nir Goldstein, managing director of GFI Israel, said the new report “unveils how Israel has become a global leader in alternative protein research, innovation and public investment.”
Israel is already home to more than 100 companies working within the alternative proteins ecosystem. According to the report, 11 new alt-proteins companies were founded across the past year — six cultivated meat and seafood companies, four plant based protein companies, and one precision fermentation company.
The country boasts alt-proteins pioneers like Remilk, Future Meat and Redefine Meat who are leading the world in both investments and R&D alike.
Precision fermentation start-up Remilk is just the second company to attain US FDA Generally Recognised As Safe (GRAS) status for its animal-free dairy proteins, allowing its products to now be sold in the United States. The company raised Israel’s second largest investment in 2022 (US$120M), and has set up production facilities in Israel, Europe and the United States.
Cultivated meat start-up Future Meat raised the largest single investment in an alternative protein company last financial year (US$347M) in a Series B funding round in December. The company is using the funds to build a production facility in the United States, and hopes to hit shelves in the US later in 2022, pending regulatory approval.
Redefine Meat produces 3D-printed plant based meats and has already raised US$135M in 2022 and secured partnerships at high-end restaurants in the UK, Germany and the Netherlands, including Michelin-starred eateries.
Despite strong growth in Australia, with the plant-based meat market tipped to reach $3B in value by 2030, greater investment in R&D, infrastructure and export pathways is required locally to compete with global alt-proteins leaders like Israel.
READ MORE: Israel State of Alternative Protein Innovation Report 2022 – Mid Year Update [GFI Israel] and Israel’s alt-protein market up 450%: report [Australian Jewish News]
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