Losing taste for plant-based meats?

THE growth trajectory of the alternative protein industry seems to have stalled both in Asia and the rest of the world. And yet the reasons for continuing to invest in this sector are more urgent than ever. Singapore’s leadership of the sector regionally and globally should continue to reap rewards. These were some of the key discussion points from the Alternative Protein Asia conference in Singapore in April.

Demand for food is expected to double by 2050 along with the CO2 emissions, according to the Good Food Institute (GFI), a think tank working to accelerate innovation in alternative proteins. As populations grow and countries get richer, meat consumption increases proportionately in most countries except India. Livestock production and the supply chain for animal proteins are destructive to the environment and consume significant resources, costing in terms of land, feed and distribution. Countries with an eye on food security seek to be less reliant on imports, looking to see if local laboratories and factories can replace grazing fields and farms in other parts of the world. Health concerns over animal proteins and challenges with ensuring a refrigerated supply chain are particularly strong in Asia compared to the rest of the world.

As if the demand problem is not troubling enough, the global food supply chain is rife with inefficiencies. One-third of food produced goes to waste. More than 50 per cent of South-east Asia’s waste is food waste. Climate change and extreme weather events regularly cause havoc to regular farming methods, disrupting supplies and causing massive price fluctuations in commodities.