Organisation:
Ravenry, the Netherlands Enteprise Agency (RVO), Unknown Group
Resource Link:
My Key Takeaways
New to Singapore’s alternative proteins ecosystem?
Here’s my takeaways from an overview of Singapore’s alternative protein ecosystem by Ravenry, the Netherlands Enterprise Agency (RVO) & Unknown Group.
Asia Pacific is the key market for alternative proteins across plant, micro-organism & animal-cell-based sectors [Pg 2, 3]
Asia Pacific’s (APAC) alternative protein market would grow between 9-22% CAGR from 2020 to 2035, faster than any other region.
By 2035, two thirds of global alternative protein consumption would be in APAC.
Singapore’s preferences?
Plant-based beef dominates today, but interest in plant-based chicken and pork grew seven times from 2020-2021, reflecting East Asians’ general protein preferences.
Despite plant-based proteins being associated generally with higher prices, the Singaporean market’s deep purchasing power enabled frozen alternative protein retail sales to increase 27% from 2019 to 2020, instead of just 7% for traditional proteins (Pg 4).
Localised formats and ingredients matter (Pg 5)
Western markets focus on alternative protein formats like sausages, nuggets, and burger patties. Asian dishes incorporate forms like mince, strips, chunks & pieces which are fast-growing in APAC.
Local ingredients also garner greater popularity in Singapore – e.g. plant-based pork produced from jackfruit (a low maintenance tropical fruit that does not need irrigation, pesticides nor herbicides).
FoodInnovate – an initiative to grow Singapore’s food manufacturing industry through innovation
The multi-agency initiative helps companies to:
– Obtain contacts to food co-innovation partners like corporates, food science experts, industry associations & local SMEs.
– Access shared facilities to test new food ideas and produce them without worrying about the cost of setting up production facilities
Alternative protein companies in Singapore’s ecosystem
A list of local and global alternative protein companies in Singapore and their innovation activities (e.g. EatJust, Sophie’s Bionutrients, Ants Innovate, Next Gen Foods, Shiok Meats, Quorn, Eat Just).
Additional ideas for your company’s business development teams if you are targeting this sector (pgs 8-10).
Nanyang Technological University (NTU) and The Good Food Institute offer APAC’s first university course on alternative protein types, tech & regulations.
Named Future Foods – Introduction to Advanced Meat Alternatives, the course aims to equip NTU students with expertise and knowledge of the food industry focussing on alternative proteins and cultivated meat.
Flexitarians – this is the fastest growing segment in Singapore due to concerns over health, meat production, processed meat & environmental impact.
Only 7% of Singaporeans are vegetarian/vegan.
With 39% of Singaporeans identifying themselves as flexitarian, your alternative protein company cannot disregard this critical consumer cohort.
Government support for agrifood startups
– Enterprise Singapore supports Big Idea Ventures which accelerates startups focused on plant-based food, alternative proteins & related foodtech.
– In 2021, Singapore Food Agency awarded S$23M of grants to 12 projects under the Sustainable Urban Food Production theme. Keep a look out for more grant calls!
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Singapore is the first country globally to approve the sales of lab grown chicken, with other products like cultivated shrimp and meat in the pipeline.
Initiatives in the global agrifood hub will have a ripple effect in accelerating funding and development of other exciting agrifood projects across Asia.
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About Zhilin SIM
Having worked and lived in Singapore, the Nordics, China, Spain, UK, I’m now based in Paris.
I’m fluent in English, French and Mandarin, and I’m learning Arabic because it’s a beautiful and fascinating language.
My team creates and supports one-many initiatives connecting corporate and startup ecosystems in Europe to business and innovation opportunities in Singapore and Southeast Asia.
I’m passionate about horticulture, watercolour, startups/tech as well as French cuisine, Peranakan kueh techniques and other global cuisines.
Feel free to connect with me if you think my network in Europe and Asia could be of benefit to your business and innovation activities.
