Where can Singapore take the lead in alternative proteins?
24 Mar 2023 一 Singapore is investing heavily in alternative proteins in a bid to become a world leader – but its status as a global hub, especially for manufacturing, may be threatened as other countries catch up.
Alternative proteins do not involve the slaughter of animals; they may be plant-based, fermented using microbes, or cultivated from animal cells.
In Singapore, investments in such proteins multiplied to US$169.8 million by 2022, from just US$5.9 million in 2019, according to think tank Good Food Institute (GFI). This was part of the US$562 million Asia-Pacific total in 2022, up from US$42 million in 2019.
On the regulation front, Singapore planted its flag in 2020 by being the first – and so far, only – country to allow the commercial sale of cultivated meat.
As a result, startups have flocked to Singapore to pilot production and test their products. According to the Economic Development Board (EDB), there are more than 60 alternative protein companies here, employing 790 people. Read More...