Singapore-based plant-based meat startup Next Gen Foods, which is estimated to be worth nearly R$ 1 billion, was one of the attractions of ABES CONFERENCE 2021, an event organized in partnership with The Shift portal, on September 14, adding a different perspective of innovation. The event has platinum sponsorship from Oracle and master sponsorship from Amazon Web Services (AWS), IBM, Sky.One Solutions, TOTVS and CAESBRA.
The Brazilian André Menezes, co-founder and CEO of foodtech research and development of plant-based products and brands (vegetable meat), was interviewed by journalist Soraia Yoshida.
A Bloomberg Intelligence study predicts a 451% growth of the plant-based food market, which is expected to reach a value of US$ 162 billion in the next decade – a big difference from the US$ 29.4 billion in 2020.
For André, the food industry is going through a rupture, as the production and creation of food based on animals will not be as efficient in the future. “We understand that technology can achieve the same goals of offering delicious food, with very good nutritional values, and healthy without using agriculture”, he pondered.
The executive decided to undertake in the plant based segment after 7 years of experience in the meat industry, following the entire production chain from the field to the final consumer. Agro is, in André's assessment, a completely commoditized segment, in which price fluctuations and crises are always present, making the market more difficult, and the global protein market is becoming increasingly restricted.
“On the other hand, the scenario for plant-based products is absolutely different: really very interested investors, interested consumers and media, restaurant chefs are extremely excited to present the news to consumers. It's an incredible receptivity. It is the technology at the forefront of the food sector”, he explained. He also said that Next Gen Foods invests in research to understand in depth what consumers expect from chicken meat as a food: the characteristics of flavor, texture, preparation methods and seasonings used in different countries.
Singapore is currently considered a global foodtech hub, providing its facilities for starting a business, with numerous food research centers. On the other hand, it is a limited country from the point of view of reduced market size, which implies the need to have a global strategy, focused on exports.
“Because of the pandemic, we face many challenges and, right at the beginning, we already had to rethink our way of acting, we rethink ourselves as professionals, we question ourselves. Today, we are managing to position ourselves in a very accelerated way, receiving inputs from a global supply chain and taking products to other countries. We are talking about a lot of innovation and having a long-term vision, because the plant-based market is still very small and has a lot to grow”, he concluded.
Watch the full presentation at this link: https://www.youtube.com/watch?v=DyTuuqT51Tc&list=PL2X1JJqBpAkO3FnrSADlajyDI-OVS5dBp
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