Forward Fooding: 2023 SEA AgriFoodTech Ecosystem Report
November 13, 2023
Explore the AgriFoodTech terrain in the Southeast Asia (SEA) region, uncovering key trends and growth prospects through the insightful report presented by Forward Fooding in collaboration with the Singapore Economic Development Board (EDB).
Access the complete report by downloading it from: https://lnkd.in/d7AHEXiD
Here is a little sneak peek into the 2023 SEA AgriFoodTech Ecosystem Report as provided by Forward Fooding:
- €3.3 billion has been funnelled into AgriFoodTech companies throughout SEA across 265 rounds since 2013.
- The CAGR (2019-2022) of Next-Gen Food and Drinks in SEA is a 192% which is largely catalysed by Singapore, a key leader in the alternative protein space, drawing in investors and startups from the whole region.
- Food delivery has the majority of funding in the SEA region, accounting for 48% of the total investments over the last decade. That's about €1.6B invested in this space since 2013.
- Singapore serves as an ideal hub within SEA for regional and international companies seeking fundraising opportunities and lab-pilot scale support.
- Beyond Singapore, SEA offers a favourable environment for scale-up manufacturing with lower capital (CAPEX) and operational (OPEX) expenditures such as the Bio Base Asia Pilot Plant in Thailand, along with sizeable consumer markets.
And Food Innovation & Resource Centre (FIRC) is proud to be listed as one of the production facilities and research centres available in Singapore that offers invaluable technical expertise through food science and technology solutions to food companies, facilitating their journey towards enhanced business growth, innovation, and sustainability.
At FIRC, we are well-prepared to support companies venturing into the alternative proteins sector. Our extensive technical expertise covers crucial aspects such as food formulation, process development, and sensory evaluation.
And we are excited to highlight our pilot-scale Twin-screw Extruder, designed for producing high moisture meat analogues and textured vegetable proteins. This versatile equipment extends beyond protein alternatives; it also facilitates the production of a wide array of snack foods, providing the opportunity to formulate high-protein snack options. These capabilities empower the creation of a diverse range of alternative protein products, addressing the increasing demands of consumers seeking sustainable and nutritious food choices.
