Singapore’s alt-proteins push poses possibilities for AU & NZ

With over 17 international plant-based meat manufacturers, 11 local plant-based meat manufacturers and 11 cellular agriculture companies in...
November 8, 2022 AU/NZ news
Singapore’s alt-proteins push poses possibilities for AU & NZ
Singapore is a growing market for alternative proteins (Credit: Unsplash)

With over 17 international plant-based meat manufacturers, 11 local plant-based meat manufacturers and 11 cellular agriculture companies in market, Singapore is host to a quickly developing alternative proteins industry. 

Last week, Food Frontier Head of Industry Engagement Susie O’Neill shared these insights and more with The Guardian in a story focusing on the rapid growth of the alternative proteins industry in Singapore. 

Mirte Gosker, Managing Director of Good Food Institute Asia-Pacific added that Singapore is “without question the leading alternative protein hub in Asia – and arguably the world”. 

As a nation that relies on importing over 90% of its food, Singapore’s government has stressed that establishing food security is a high priority. This is evident in the country’s “30 by 30” strategy, which aims to enable Singapore to locally produce 30% of its nutritional needs by the year 2030. Alternative proteins are a key part of this strategy with SG$114 million invested by the Singapore Government in 2020 alone. 

This focus on alternative proteins reflects the Singaporean Government’s understanding of the predicted increase in global food demand of 59% between 2005 and 2050 when the UN predicts the global population will hit 9.7 billion, according to The Guardian article. 

“To address a looming food gap, we need to have these complementary sources of protein … from plant-based through to cell-based,” explained Prof Michelle Colgrave, leader of the Future Protein Mission at the CSIRO. 

Acknowledging this opportunity, Singapore has become a leader in the alternative proteins sector. Singapore is currently the only country to have approved the commercial sale of all three segments of the sector, including plant-based meat, fermentation-enabled products and cultivated meat. 

Beyond Singapore, the APAC region holds significant opportunities for growing the alternative proteins sector, as home to over half the world’s population, with a growing demand for protein due to increasing urbanisation and affluence. 

“Australia and New Zealand are uniquely positioned at the gateway to Asia and have a strong reputation for premium agrifood products in these markets,” said Susie O’Neill. “The big question for our local alt-proteins companies is how can start-ups and established players alike hone their export strategies to pursue the estimated US $1.7 billion APAC alternative proteins market?”

Being keenly aware of the need to tap into such markets, Food Frontier is working to provide new resources, including an extensive APAC market analysis report to be released in 2023. Delivered in partnership with Mintel, the report will explore five key Asian markets and provide valuable insights on retail and foodservice landscapes, consumer behaviours, regulatory parameters and more to companies seeking to export.

READ MORE: All sizzle, no steak: how Singapore became the centre of the plant-based meat industry [The Guardian]

Subscribe to our newsletter

Each month we bring you the latest news from down under and around the globe, along with updates from Food Frontier, industry job opportunities and more.