Quotes from Vegconomist, January 4, 2024
Two alternative protein startups, Umami United and IntegriCulture, have received $27.7 million in funding from the Japanese government to boost the economy and improve food security.
Japan’s Ministry of Agriculture, Forestry and Fisheries organized the Small and Medium-sized Enterprises Innovation Promotion Fund Project, which was responsible for selecting the startups. The Ministry of Agriculture has been working on a plan since 2020 to diversify protein sources. As a significant part of this plan, alternative proteins, such as cultivated meat, have been labeled as an important sector.
According to the latest Food Frontier report on alternative proteins in Asia, Japan is ranked as the second-largest market size for meat alternatives, with a value of USD 247.5 million. Despite this, the projected growth rate for the specified period (CAGR 2022-2027) is comparatively low at 9%. Japanese consumers’ lack of enthusiasm in reducing meat consumption is the main driving force behind this slower growth.
Japanese cuisine, known for its traditional meat and fish dishes, has historically relied on imports due to limited domestic meat production and land scarcity. In the meantime, it is important to note that climate change is increasingly being recognized as a global priority, and numerous governments are acknowledging the undeniable connection between diets and greenhouse gas (GHG) emissions.
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