The cultivated meat market in southeast Asia could be poised for rapid growth, according to Singapore-based cultivated seafood company Umami Meats.
Co-founder and CEO Mihir Pershad told New Straits Times that growing sustainability concerns and the increased demands being placed on traditional agricultural systems were driving demand for alternatives. The pandemic has also helped to increase awareness of food security issues.
Mihir specifically mentions Malaysia as a potential market for cultivated meat production, due to its expanding biomanufacturing sector, agricultural knowledge, and low production costs. Crucially, the industry could help to make some Asian countries self-sufficient.
Many consumers in the region are currently unaware of cultivated meat and its benefits, but this is likely to change. A significant proportion of the population is looking to cut down on animal protein, and willingness to consume cultivated meat rises by 300% when consumers are informed about these products. Educational campaigns could therefore help the industry to succeed.
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