Alternative protein is booming in Asia because it meets a genuine need

DEFYING turbulent global economic headwinds, new data released by the Good Food Institute Asia Pacific (GFI APAC) proves one thing beyond doubt : alternative proteins—including meat, dairy, and eggs made from plants, microbes, and cultivated animal cells—are ascendant in Asia.

Year over year, investments into APAC-based alternative protein companies increased by 43 per cent, reaching US$562 million in 2022. Remarkably, in some categories like cultivated foods—grown directly from animal cells, rather than raising chickens or pigs—regional investments not only surpassed the previous year, but all past years combined.

2022 also marked a significant milestone in the global alternative protein sector’s evolution. For the first time in the industry’s history, investments from outside of North America represented the majority share (58 per cent) of the worldwide total. For many analysts, that fact is indicative that the centre of gravity in “future food” production is slowly but steadily shifting eastward.