Saturday, June 15, 2024

Major milestone for Aussie food innovation

Food Frontier applauds the announcement in cultivated meat which marks a significant milestone towards addressing our growing protein demands.

Cultivated meat manufacturer Vow Group Pty Ltd has lodged an application with food regulator Food Standards Australia New Zealand, FSANZ, to permit Vow’s quail product as an ingredient in food. Cultivated meat product—also known as cultured meat—is meat produced using cells cultivated in large steel fermentation tanks known as bioreactors. This is the first time a company has applied for approval of a cultivated meat product in Australia and New Zealand.

Vow is demonstrating food systems innovation and technical leadership and, if approval is granted, will propel Australia onto the international stage as a trailblazer in the race to develop complementary solutions to the world’s growing protein needs.

Cultivated meat was approved for sale in Singapore in 2020, and the US is expected to approve cultivated meat this year. According to consultancy firm McKinsey and Company, cultivated meat could be worth up to $25 billion globally by 2030.

Food Frontier founder and CEO of Thomas King says Vow’s success to date is building positive momentum for the alternative protein industry and is another step forward for greater diversification of our protein supply.

“Cultivated meat will offer consumers additional choices as we move towards a safer and more sustainable future food system. I also appreciate how new and novel this food appears.

“How our food is produced today is different from 50 years ago, and the same will be true in another 50 years. Advancements in Australian food production, including the scale-up of new protein industries like those using plants, cell-cultivation and precision fermentation, will ensure we remain at the forefront of global food innovation,” Mr King said.

“Australia should be really proud of our scientists and start-ups. We punch above our weight in science and technology, and we have a world class regulatory system to ensure novel foods are thoroughly assessed for safety.”

In 2019 Vow pitched for seed funding at Food Frontier’s first event, now they are scaling production in preparation for market entry and are quickly becoming an Australian innovation success story.

Mr King said, “Considering the sizable role alternative proteins will play in feeding our growing global population, it’s important that Australian investment, science and regulation remain responsive to changing opportunities. To imagine that an Australian food tech company could be amongst the first to bring this protein option to our plates is very exciting.”

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