At the first English-language edition of Cloud Talk, Gen.T’s new webinar series, three experts explain how a handful of startups are changing Asia’s meat-loving ways
The term “alternative protein” only entered the public lexicon a few years ago. Today, the industry is worth about US$2.2 billion globally, with Barclays predicting this will increase to US$140 billion by 2030. By the start of the next decade, the meat alternative market will be worth 14 percent of the current value of the global meat industry.
But what exactly counts as "alternative protein", why is it exciting investors so much, and how can it be a boost to both food security and the environment?
These questions and more were discussed during the latest edition of Cloud Talk, a new webinar series by Gen.T where we bring together industry experts to provide insight on the blue-sky ideas that matter.
For our session on the future of alternative protein, we heard from Sonalie Figueiras, the founder of impact media platform Green Queen; Julian Ting, the vice president of alternative protein-focused fund Lever VC; and Nydia Zhang, who chairs the advisory council at The Good Food Institute Asia-Pacific.
Here are the key takeaways from the session.
See also: Malaysia’s Youngest Hospital CEO On Fighting Coronavirus On The Front Lines
Defining alternative protein
Alternative protein is an umbrella term for different types of meat substitutes. The most well-known is plant-based protein, which describes foods that come primarily from, well, plants. This includes nuts, fruits, vegetables and beans. This is the category which Beyond Meat and Impossible Foods fall under.
Next, there is cultivated meat, which is also known as cell-based or lab-grown meat, and involves the use of animal cells to create alternatives for meat, seafood and dairy. There are currently no commercially available cultivated meat products in Asia yet, due uncertainty caused by a lack of regulation, but startups such as Singapore’s Shiok Meats and Turtle Tree Labs are working to change this in the near future.
The third category is what Green Queen describes in its Asia Alternative Protein Industry Report 2020 as “whole food protein alternatives”, which uses existing plant or fungi to mimic meat-like products in terms of texture, taste and behaviour.
Finally, the least-known category is insect protein, which isn't an option for those who wish to be fully plant-based, due to its non-slaughter-free nature.