The alternative meat and healthy carbohydrate industry is on its peak across the world. The trend of being vegan seems to catch up with many countries and innovative startups have made significant contribution to this field. They are coming up with attractive products aimed at the growing meat consumers especially in the Asian market. Even if you are gone visiting online casino at resorts, you would see how the food industry is changing today. It’s just not what it was even a decade ago.
A Look at How Startups are Making the Difference
In 2017, a Singapore national investment agency Temasek made the headlines by investing $75 million in the meat alternative market. The project is called Impossible Foods and one of their unique offering is vegetarian burgers which have patties made to taste like beef.
The startup based in California has raised a total of $400 million in funding from top investors which also include Li Ka-shing and Bill Gates and Singaporean firms. Senior vice president of Impossible Foods, Nick Halla believes that the growth in meat eating population in Asian countries provide them an opportunity to introduce their products.
In an interview to CNBC, Halla told that investments made in the meat alternative market gives them room for business in the Asian markets. He added that plant based food products give them a great opportunity to meet the demands of environmental friendly diet and also achieve growth.
Market is also lucrative in the healthy carbohydrate food products and the Asian countries also have potential for the business. The market value of sugar alternative products is predicted to amount to $16.5 billion by 2020 and the Asia Pacific is going to the fastest growing market.
Many Singaporean firms have come into play that are trying to cash in on the growing demand of this category of food products. Nutrition Innovation and Alchemy Foodtech are two startups who have come up with products that retain the taste, have low sugar content cand are affordable to the common man. Nutrition Innovation provides the technology of producing less processed sugar to manufacturing firms in bid to make healthy products. Alchemy Foodtech collaborates with manufacturing mills to come up with products that decrease the level of sugar when eaten.
Apart from creating plant based meat alternatives and healthier carbohydrates, efforts are also going on to increase the nutritional value of rice and other grains. The fortified rice industry across the world is predicted to achieve a 6.1% CAGR between 2017 and 2026, as revealed by a Transparency Market Research report. The revenue generated from the industry is expected to cross $25 million globally by the end of 2026.
Startups in other parts of Asia have also made their bid in the organic food market. Asbah, a rice manufacturing firm in India has made investments to the tune of millions to develop their fortified product called Power Rice. The growth is expected to bring more competitors in the market promising newer products.