Meat and dairiy substitutes
Israel must nourish its food tech industry or risk falling behind, report warns
Without comprehensive strategy and funding, country will have ‘initiated’ field but will not reap benefits, according to Good Food Institute Israel. The country will need a national strategy to support its growing food tech industry if it hopes to maintain a key role in the sector over the coming years, according to a new report that offers details on a proposed plan. (via The Times of Isarel)
Israel is currently a leading player in the global food tech industry, specifically in the cultivated meat sector which drew some 40 percent of investments worldwide in 2021, said the October report, put together by The Good Food Institute (GFI) Israel, a nonprofit organization that seeks to promote research and innovation in the field, and consulting multinational EY. It was presented, in part, last week at a food tech event at Reichman University (formerly IDC) in Herzliya hosted by the students’ Entrepreneurship Club with the Zvi Meitar Institute for Legal Implications and Emerging Technologies.
The document delves into the growing demand for animal-derived food and the environmental harms associated with modern meat production — an industry that is responsible for about 23 percent of all global warming gases — as well as an emerging global race to secure food supplies and develop more sustainable, lasting food sources. A strong local food tech industry can establish food security and become a strategic national asset for Israel, the report said.
According to the Barclays Group’s forecast, by 2030 the global market value of meat substitutes alone is expected to reach $140 billion and make up 10% of the total meat market.
“Essentially, the way humans have been producing meat is unsustainable, and emerging technologies like cultivated meat, plant-based proteins, and fermentation processes are trying to address this,” said Nir Goldstein, managing director of GFI Israel, who spoke at the event.
Israel is currently home to over 400 companies in food tech, a broad field that includes nutrition, packaging, food safety, processing systems, novel ingredients, and alternative proteins. The latter comprises plant-based substitutes for meat, dairy, and egg; cultured dairy, meat and seafood; insect proteins; and fermentation products and processes.